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Watches and Clocks Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Watches and Clocks Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 9, 2024 /EINPresswire / -- The watches and clocks market has experienced robust growth in recent years, expanding from $53.11 billion in 2023 to $56.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to luxury brand recognition, status symbol and gift culture, craftsmanship and artistry, globalization and market access.
Strong Future Growth Anticipated
The watches and clocks market is projected to continue its strong growth, reaching $67.87 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to customization and personalization trends, sustainability and ethical practices, e-commerce and digital retail expansion, smartwatch integration, cultural and regional influences.
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Growth Driver Of The Watches and Clocks Market
The growing spending for personal accessories is expected to propel the growth of the watches and clocks market going forward. Personal accessories are items that are worn or carried by a person to enhance their appearance or to express their personality. Consumers seek individuality and ways to express themselves through their belongings. This translates to a growing demand for personalized accessories like custom-engraved clocks, limited-edition watch faces or bespoke watch cases.
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Major Players And Market Trends
Key players in the watches and clocks market include Apple Inc., Audemars Piguet Holding SA, Breitling SA, Casio Computer Co. Ltd., Chelsea Clock Company, Citychamp Watch & Jewelry Group Limited.
Major companies operating in the watches and clocks market are focused on developing technological innovations, such as meca-fluidic technology, to gain a competitive edge in the market. Meca-fluidic technology combines traditional mechanical watchmaking with the precise movement of fluid to tell time.
Segments:
1) By Type: Sport Watches, Luxury Watches, Diamond Watches, Alarm Clock, Wall Clock
2) By Distribution Channel: Offline, Online
3) By Application: Display Time, Adornment, Collection, Other Applications
Geographical Insights: Asia-pacific Leading The Market
Asia-pacific was the largest region in the watches and clocks market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the watches and clocks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Watches and Clocks Market Definition
Watches and clocks refer to timepieces that can be hung on a chain, carried in a pocket, or worn on the wrist using a band that shows time Watches and clocks are used to keep a measure of time and for other applications such as alarm clocks.
Watches and Clocks Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Watches and Clocks Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on watches and clocks market size , watches and clocks market drivers and trends, watches and clocks market major players, watches and clocks competitors' revenues, watches and clocks market positioning, and watches and clocks market growth across geographies. The watches and clocks market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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