Waterproof Watch Market

A waterproof watch is a type of artifact or movable timepiece whose movement is enclosed in a gasket that seals the winding and entryways to the core of the watch, preventing the entry of water into it. The water can cause huge damage to the complex mechanism and functioning of the watch therefore, the waterproof watches were launched whichcan withstand a certain level of water pressure and can be worn without bothering about the water contact. The waterproof watches have been launched and used since an era and much evolution has occurred in them until recent times. The first waterproof and dustproof wristwatch was invented by Rolex in 1926 and was known as Rolex Oyster. Also, a waterproof wristlet watch was introduced in Switzerland in 1945 and was issued to the British military forces. Since then the advancement in technology and automation has brought enhancement in the designing of waterproof watch and launch of watches with advanced water resistance, moisture, and dirt-repellent features. The waterproof watches are manufactured according to certain ISO standards and labeled as water-resistant based on different parameters like depth, bars, atmosphere, meters, and others.

COVID-19 Scenario Analysis

• The COVID-19 pandemic has caused a reduction in sales and revenue of the waterproof watch market due to the shutdown of specialty stores in various countries.
• The sales of waterproof watches have faced a downturn due to the changing consumer buying behavior and more inclination towards essential items rather than luxury products.
• The e-commerce channels have not proven beneficial to the waterproof watch market due to the customer’s preference for purchasing watches through offline stores. The repairing of watches is one of the main aspects of offline distribution channels, which has been affected due to the shutdown of stores in various countries.   
• The key players like Rolex, Omega, and others had to initially shut down their manufacturing units and faced a shortage of manpower due to the lockdown scenario.
• The export and import ban in several countries has led to difficulty in the global supply chain of the waterproof watch market.
• The major watch trade- fairs like Baselworld and Watches & Wonders were canceled due to the pandemic, therefore, causing a huge decline in sales and revenue of the luxury watch market.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Watchhas been used for a long time for navigation and keeping track of the time but the advanced technology has created a pathway to present additional features in a waterproof wristwatch. Several variants of waterproof wristbands are available, which are resistant to a splash of water and some of them even can be worn while performing water activities such as diving, swimming, and others. The increasing awareness about luxury products, investment in technology and automation, increasing tech-savvy generation, availability of a limited edition of the luxury waterproof watch, inclination of millennial towards the advanced products, evolution in designs and features of watches, organization of international watch trade fairs, incorporation of cutting edge technology, the feasibility of watch to be worn while water activities, protection from high water pressure, increased product life, social media marketing, celebrity endorsements, multi-functioning watches, and increased disposable income are the key drivers which lead the growth of global waterproof watchmarket. However,government regulations, expensive waterproof watches, increased competition,availability of alternative low priced watches, and more inclination towards mainstream target hinder the market growth.

The Global Waterproof Watch market Trends

Incorporation of Advanced Technology in the Waterproof Watch Market

The key manufacturers are inclined toward investing in automation and launching the waterproof wristwatches with detailed complex mechanisms, which can also be used as a fashion accessory. Rolex, a leading brand of wristwatches has launched waterproof watches since earlier times such as oyster and submariner which was the first divers watch and have improved the product with evolving technology.

Key Benefits of the Report

• This study presents the analytical depiction of the global waterproof watch industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global waterproof watch market share.
• The current market is quantitatively analyzed to highlight the global waterproof watch market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailed global waterproof watch market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Waterproof Watch Market Research Report

• Which are the leading players active in the waterproof watch market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What future projections would help in taking further strategic steps?

 Waterproof Watch Market Report Highlights