Global Luxury Watch Market: Size, Trends and Forecast (2019-2023)
The report also provides a regional analysis of the luxury watch market for the following regions: Americas, Asia, Europe and ROW.
By: Daedal Research
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall luxury watch market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the luxury watch market are Rolex, LVMH Group, Richemont and The Swatch Group Ltd. The four companies have been profiled in the report providing their business overview, financial overview and business strategies.
The Swatch Group Ltd
Luxury watches are characterized by their high level of price, quality and rarity and are superior to other kinds of watches in terms of comfort and refinement. Luxury watches can be made using a variety of materials such as gold, platinum, steel, titanium and ceramic. On the basis of watch styles, luxury watches can be divided into vintage style watches, diving watches, sports watches, limited edition watches and others.
Luxury watches have been segmented on the basis of product type, made, distribution channel and demography. The two major product types of luxury watches are mechanical and electronic. On the basis of made, luxury watches have been divided into Swiss watches and others. Distribution channels for luxury watches have been segmented into online and offline channels. On the basis of demography, luxury watches have been divided into male luxury watches and female luxury watches.
The global luxury watch market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as increasing air travel, growing demand for luxury watches among millennials, rise in e-commerce channels, etc. However, the market is not free from challenges that are hindering its growth.
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