Latest News- Watch Market: Quartz is expected to lead the Product segment during 2025-2029

The Watch Market is being driven by Rising demand for premium watches

The Watch Market is expected to grow at a CAGR of 2.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8.01 billion. The global watch market is witnessing a significant shift towards social media marketing as a complement to traditional campaigns. Vendors are increasingly utilizing platforms such as Facebook, Twitter, LinkedIn, Google+, WhatsApp, and YouTube for product promotion. This trend is driven by the vast user base and engagement levels on these channels. In addition to direct promotion, vendors are leveraging influencers and vloggers to reach wider audiences. Social media analytics tools, like Simplify 360, are being employed by companies such as Titan to assess brand performance, audience reach, and competitive positioning on various social media channels. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Quartz
  • Mechanical
• Distribution Channel
  • Offline
  • Online
• Price Range
  • Low Range
  • Mid-range
  • Luxury
• End-User
  • Women
  • Men
  • Unisex
• Type
  • Analog Watches
  • Digital Watches
  • Smartwatches
  • Hybrid Watches
• Material
  • Stainless Steel
  • Leather
  • Rubber/Silicone
  • Precious Metals (Gold, Platinum)
• Application
  • Fashion
  • Sports/Fitness
  • Everyday Use
  • Collectible/Investment
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for premium watches
• Celebrity endorsement
• Rising demand for premium watches

However, the market also witnesses some limitations, which are as follows:

• Presence of counterfeit products
• Long product life cycle
• Limited product awareness in developing regions

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Market Scope in Watch Market Research Report

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Research Analysis Overview

In the dynamic world of watches, innovations abound with wrist-worn devices leading the charge. These devices incorporate wearable sensors, enabling health tracking and mobile payments. Voice assistant integration adds convenience, while customization caters to personal preferences. Luxury and sports watch brands merge tradition with technology, offering digital designs and analog styles. Hybrid tech, watchmaking craftsmanship, and complications coexist. Wearable design and health trends shape mobile app development, data privacy, and security concerns. The future brings connected devices, smart home integration, VR, AR, and wearable health solutions for personalized wellness. Emerging technologies promise next-generation wearables, expanding the smartwatch ecosystem.

Market Research Overview

The wearable technology segment, a significant sub-category within the expansive global apparel, accessories, and luxury goods market, encompasses companies specializing in fitness trackers, health monitoring devices, activity and sleep tracking gadgets, heart rate monitors, GPS navigation systems, and mobile payment solutions. This sector is poised for robust growth, driven by the increasing trend towards health and wellness, as well as the integration of advanced technologies into everyday life. The parent market, which covers manufacturers and marketers of textiles, apparel, footwear, accessories, and luxury goods, is projected to experience substantial expansion. Key growth factors include the expanding working population, particularly women, whose increased disposable income fuels demand for these products. The market size is calculated based on the combined revenues of these sectors. Technavio, a leading technology research firm, predicts that this market will be propelled forward by the growing number of working women worldwide, who possess increased purchasing power and are allocating a larger portion of their income towards apparel, accessories, and luxury goods. The wearable technology sector, with its offerings of health monitoring, activity tracking, and mobile payment capabilities, is expected to capitalize on this trend and contribute significantly to the market's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/