A wrist watch is a portable device attached by a watch strap of leather band or any other kind of bracelet, designed to be worn by individual around their wrist. There are two types of wrist watches available in the market. These include digital and analog. A digital watch shows the time in numbers and an analog watch has a dial with needles which displays the time in analog form. Wrist watches cater all the age groups from kid, youth to an adult and old age also for all the genders. Now smart watches have taken over the wrist watch market to the next level and have become the most demanded product in this segment.
COVID-19 Scenario Analysis:
Wrist watch manufacturing and selling companies are facing issues in production. Because of the corona virus factories are shut down, supply chain is fully disrupted and companies are also facing difficulty regarding the availability of the raw material and shortage of staff and resources in the middle of corona virus outbreak, which has slowed down the market at a global level.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The wrist watch market is consistently growing with the increase in population and disposable income of consumers. Wrist watch is a wearable device and also a fashion accessory for youth as companies are continuously investing in research and development and launching new technologies and varieties in wrist watches. Celebrity endorsement is also a major factor for the growth of the market as it is the major reason for public attraction toward wrist watches. People follow their favorite celebrities and get influenced by them to buy the product. Smart watches have taken the market to the next level as it has increased the value of the product in individual’s life. These watches are known to perform many functions, and thus have gained huge popularity with long lasting battery life, attractive design, and affordable prices. This drives the growth of the market.
The global wrist watch market trends are as follows:
Increase in demand for smart watches
The high demand for wearable technologies and devices contributes toward the growth of the smart watch segment. Smart watches are in trend because of the latest technological updates and attractive features that are adored by the youth and the children. Smart watches are not purchased only because of its utility but it has become more than that.
Key Benefits of the Report:
- This study presents the analytical depiction of the global wrist 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 detailed analysis of the global wrist watch market share.
- The current market is quantitatively analyzed to highlight the global wrist watch market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global wrist watch market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Wrist Watch Market Research Report:
- What are the leading market players active in the wrist watch market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Wrist Watch Market Report Highlights
By Distribution Channel
Key Market Players
Omega,, Citizen,, Titan,, Maxima,, Tommy Hilfiger., Rolex,, Timex,, Casio,