According to a new report, published by KBV research, The Global Luxury Watch Market size is expected to reach $53.5 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period.
The Electronic market is leading the Global Luxury Watch Market by Product in 2021; thereby, achieving a market value of $36.6 Billion by 2028. The market segment is anticipated to continue growing and maintain its leadership during the forecast period. Leading firms are extending their product lines for luxurious smartwatches with high-tech features including GPS, heart rate monitors, and multisport tracking. Customers that use these watches can monitor their speed and distance.
The Online market is poised to grow a CAGR of 5.8% during (2022 - 2028). Due to advantageous value-added services like cash-on-delivery, an easy return option, secure transactions, and consolidated and centralized customer services, consumers prefer to buy luxury products through online channels. Important players are deploying online retail boosting strategies to lower operational expenses and hence increase profitability.
The Asia Pacific market dominated the Global Luxury Watch Market by Region in 2021; thereby, achieving a market value of $23.5 Billion by 2028. The Europe market is anticipated a CAGR of 5% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 4.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/luxury-watch-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Fossil Group, Inc., LVMH SE, Ralph Lauren Corporation, Rolex SA, Citizen Watch Co., Ltd., Seiko Watch Corporation, Compagnie Financiere Richemont SA, Movado Group, Inc. and The Swatch Group Ltd.
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Companies Profiled
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