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Global Luxury Watch Market to reach USD XX billion by the end of 2030

Global Luxury Watch Market Size study & Forecast, by Type (Analog Watch, Luxury Watch), by End User (Women, Men, Unisex), by Distribution Channel (Offline Retail Stores, Online Retail Stores) and Regional Analysis, 2023-2030

Product Code: OIRCGS-20408593
Publish Date: 10-08-2023
Page: 200

Global Luxury Watch Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.25% over the forecast period 2023-2030. A luxury watch is a meticulously crafted timepiece that embodies exceptional craftsmanship, precision engineering, and exquisite design. It is typically made with the finest materials, including precious metals, diamonds, and high-quality leathers. Luxury watches often showcase intricate complications, such as tourbillons, perpetual calendars, and chronographs, demonstrating the brand’s technical prowess and innovation. Beyond their functional purpose of telling time, luxury watches are regarded as symbols of status, refinement, and a timeless sense of style, appealing to discerning individuals who appreciate the artistry, exclusivity, and enduring value that these timepieces represent. The factors driving the growth of luxury watch market are rising demand for luxury goods and growing consumer preference for high-quality, premium watches.

According to Europa Star, an international watch magazine, the global market value of Rolex in 2021 was USD 8.81 billion thus leading the luxury watch market. Another factor driving the market is growing consumer preference for high-quality, premium watches. Worldwide, people are interested in using high-quality products that are made using advanced technology and materials. Owning such products is seen as a way to show off one’s social status. Moreover, the innovation of luxury smartwatches with advanced features, such as monitoring heart rate, blood and oxygen levels, sleep patterns, and tracking physical activity along with the customization and personalized options is expected to create abundant opportunities in the market. However, the high cost of Luxury Watch and intense competition with numerous established brands and new entrants vying for market share stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Luxury Watch Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to its strong economy, large middle class with considerable disposable income, and strong influence on global fashion and trends. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as rising disposable income, growing consumer base, and increasing preference for luxury goods, particularly in countries like China, Japan, and South Korea. According to the Federation of the Swiss Watch Industry, Swiss watch exports to Mainland markets, primarily China, reached a total of CHF 212 million (USD 2.39 billion) in 2022, accounting for 8.8% of the market share.

Major market player included in this report are:
Rolex SA
Hermes International SA
Chanel SA
Moët Hennessy Louis Vuitton SE (LVMH)
Kering Group
Compagnie Financiere Richemont SA
The Swatch Group Ltd
Audemars Piguet
Patek Philippe SA
The Swatch Group Ltd

Recent Developments in the Market:
Ø In December 2022, Bucherer, a prominent luxury goods company, acquired Klarlund, a renowned Danish watch and jewelry retailer. This strategic acquisition is expected to support Klarlund in solidifying its position as a leading destination for watch enthusiasts in Denmark.
Ø In October 2022, Ethos Limited, a luxury watch retailer, revealed its intentions to launch 30-35 new stores across India within the next three years. The company’s expansion plans are driven by the growing demand for luxury watches in the Indian market.

Global Luxury Watch Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, End User, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Analog Watch
Digital Watch
By End User:
By Distribution Channel:
Offline Retail Stores
Online Retail Stores

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Luxury Watch Market, by Region, 2020-2030 (USD Billion)
1.2.2. Luxury Watch Market, by Type, 2020-2030 (USD Billion)
1.2.3. Luxury Watch Market, by End User, 2020-2030 (USD Billion)
1.2.4. Luxury Watch Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Luxury Watch Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Luxury Watch Market Dynamics
3.1. Luxury Watch Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising demand for luxury goods Growing consumer preference for high-quality, premium watches
3.1.2. Market Challenges High Cost of Luxury Watch Intense competition with numerous established brands and new entrants vying for market share
3.1.3. Market Opportunities Innovation with advanced features such as health tracker and physical activity tracking Customization and personalized options
Chapter 4. Global Luxury Watch Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Luxury Watch Market, by Type
5.1. Market Snapshot
5.2. Global Luxury Watch Market by Type, Performance – Potential Analysis
5.3. Global Luxury Watch Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Luxury Watch Market, Sub Segment Analysis
5.4.1. Analog Watch
5.4.2. Digital Watch
Chapter 6. Global Luxury Watch Market, by End User
6.1. Market Snapshot
6.2. Global Luxury Watch Market by End User, Performance – Potential Analysis
6.3. Global Luxury Watch Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
6.4. Luxury Watch Market, Sub Segment Analysis
6.4.1. Women
6.4.2. Men
6.4.3. Unisex
Chapter 7. Global Luxury Watch Market, by Distribution Channel
7.1. Market Snapshot
7.2. Global Luxury Watch Market by Distribution Channel, Performance – Potential Analysis
7.3. Global Luxury Watch Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
7.4. Luxury Watch Market, Sub Segment Analysis
7.4.1. Offline Retail Stores
7.4.2. Online Retail Stores
Chapter 8. Global Luxury Watch Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Luxury Watch Market, Regional Market Snapshot
8.4. North America Luxury Watch Market
8.4.1. U.S. Luxury Watch Market Type breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Luxury Watch Market
8.5. Europe Luxury Watch Market Snapshot
8.5.1. U.K. Luxury Watch Market
8.5.2. Germany Luxury Watch Market
8.5.3. France Luxury Watch Market
8.5.4. Spain Luxury Watch Market
8.5.5. Italy Luxury Watch Market
8.5.6. Rest of Europe Luxury Watch Market
8.6. Asia-Pacific Luxury Watch Market Snapshot
8.6.1. China Luxury Watch Market
8.6.2. India Luxury Watch Market
8.6.3. Japan Luxury Watch Market
8.6.4. Australia Luxury Watch Market
8.6.5. South Korea Luxury Watch Market
8.6.6. Rest of Asia Pacific Luxury Watch Market
8.7. Latin America Luxury Watch Market Snapshot
8.7.1. Brazil Luxury Watch Market
8.7.2. Mexico Luxury Watch Market
8.8. Middle East & Africa Luxury Watch Market
8.8.1. Saudi Arabia Luxury Watch Market
8.8.2. South Africa Luxury Watch Market
8.8.3. Rest of Middle East & Africa Luxury Watch Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Rolex SA Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Hermes International SA
9.3.3. Chanel SA
9.3.4. Moët Hennessy Louis Vuitton SE (LVMH)
9.3.5. Kering Group
9.3.6. Compagnie Financiere Richemont SA
9.3.7. The Swatch Group Ltd
9.3.8. Audemars Piguet
9.3.9. Patek Philippe SA
9.3.10. The Swatch Group Ltd
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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