Assessment of the World's Watch Industry 2020-2025: Featuring Seiko Holdings, Casio Computer, Citizen Watch, Fossil Group, Timex Group, The Swatch Group, Fitbit and Samsung Group
DUBLIN, June 25, 2020 /PRNewswire/ -- The "Global Watch Market: Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global watch market is projected to grow at a CAGR of 9.92% during the forecast period.
North Amrica and Europe Dominating the Watch Market
United States watch market is offering a wide range of choices for its consumers, which includes cheaper watches from Hong Kong that are priced below USD 500. Depending on the number of apps and features available, the entry-level smartwatches are priced at USD 120-200, while middle-range watches are priced at USD 300-500. Brands like Apple have launched smartwatches at an entry price of USD 350.
This has made the product accessible to a larger segment of consumers. Moreover, the British watchmaking industry is growing rapidly, with more players providing attractive watches with a stainless-steel case, scratch-resistant sapphire glass, quick-change strap system, and water resistance property.
Global watch market is highly fragmented and comprises regional and international competitors. The market is dominated by players, like Citizen Watch, Seiko Holdings Corporation, Fossil Group Inc., Casio Computer Co. Ltd, Timex Group BV, and The Swatch Group. These players are now focussing on social media platforms and online distribution channels. for the online marketing and branding of their products, to attract more customers.
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