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 as a marketing channel. Vendors are increasingly utilizing platforms such as Facebook, Twitter, LinkedIn, Google+, WhatsApp, and YouTube for product promotion. Traditional marketing campaigns are being complemented with social media campaigns, where brands directly engage with their audience and leverage the reach of popular celebrities and vloggers. Social media analytics tools, like Simplify 360, are being employed by leading vendors, such as Titan, to assess brand performance, audience demographics, and competitive positioning on various social media channels. This data-driven approach allows vendors to optimize their marketing strategies and enhance customer engagement. 

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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
  • 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 watch market, wearable payment systems and smartwatch personalization are key trends. Wear OS enables custom watch faces, fitness app integration, and accessorizing with smartwatch bands, cases, charging docks, and straps. Water resistance ratings and durability testing ensure longevity. Display technologies, like OLED and AMOLED, offer superior visuals, while battery optimization, wireless charging, and fast charging enhance convenience. Software updates, security protocols, data encryption, biometric authentication, wearable data analytics, health data management, and personalized recommendations cater to consumer needs. Smartwatch adoption rates and consumer attitudes vary, influenced by use cases in the evolving wearable industry landscape.

Market Research Overview

The global apparel, accessories, and luxury goods market encompasses businesses involved in the production and distribution of textiles, apparel, accessories, and luxury goods. This market span includes manufacturers, marketers, and rental service providers, excluding footwear manufacturers. Factors propelling market expansion include the expanding working female population, leading to increased disposable income and consumer spending on fashion and luxury items. Advanced wearable technology, such as fitness trackers and activity monitors, integrating features like health monitoring, GPS navigation, heart rate monitoring, sleep tracking, mobile payments, and NFC technology, are revolutionizing the market landscape. These innovations are expected to significantly boost demand for apparel and accessories incorporating such advanced functionalities.. 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/