Technavio, a leading provider of market research reports, has released its latest study on Wristwatch Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.
Key Highlights:
The market size is estimated to grow by USD 22880.9 million, at a CAGR of 5.94% during the forecast period. The global wristwatch market is experiencing a significant surge due to the increasing fashion consciousness among the youth demographic. This group, known for their keen sense of style and image, considers fashion an essential expression of their identity. A key driving factor behind this trend is the emergence of smartwatches. These innovative timepieces offer advanced features such as fitness and health tracking, phone connectivity, and the ability to receive calls, messages, and notifications, making them a must-have accessory for the fashion-forward youth.
For insights on company offerings- Request a sample report!
The North American wristwatch market is projected to experience consistent expansion throughout the forecast period, with the United States serving as the primary market driver. Factors fueling this growth include the introduction of designer timepieces, the increasing popularity of online marketplaces for purchasing fashion accessories, and the rising preference for customized watches. Despite the US economy approaching saturation, the region's wristwatch market is witnessing a surge in demand, driven by the aforementioned trends. These factors are expected to bolster the growth of the North American wristwatch market during the forecast period.
About Technavio
Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies.
Contacts
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/
Safe and Secure SSL Encrypted