Overview and Scope
A watch is a portable timepiece worn by individuals around the wrist and attached by a strap. A clock is a device used for measuring and indicating time, using pointers moving over a dial. A measuring device is an instrument used to measure various physical parameters. Watches, clocks, and measuring devices are used for measuring time and physical quantity.
Sizing and Forecast
The watch, clock, measuring device market size has grown strongly in recent years. It will grow from <b>$103.65 billion in 2023 to $113.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. </b> The growth in the historic period can be attributed to industrialization, navigation and exploration, scientific advancements, economic trade and commerce.
The watch, clock, measuring device market size is expected to see strong growth in the next few years. It will grow to <b>$160.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. </b> The growth in the forecast period can be attributed to integration of sensors and digital interfaces, health and fitness, iot and connectivity, environmental monitoring, customization and personalization. Major trends in the forecast period include smartwatches and wearables, precision and accuracy, vintage and retro designs, sustainable materials, collaborations and limited editions.
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Segmentation & Regional Insights
The watch, clock, measuring device market covered in this report is segmented –
1) By Type: Watches and Clocks, Measuring Devices
2) By Price Range: Low Range, Mid Range, Luxury
3) By Distribution Channel: Offline Retail Stores, Online Retail Stores
4) By End User Sex: Women, Men, Unisex
The <b>Asia-Pacific</b> was the largest region in the watch, clock, measuring device market in 2023. <b>North America</b> is the second-largest region in the watch, clock, measuring device market. The regions covered in the watch, clock, measuring device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in disposable incomes was a major driver of the watch, clock, and measuring device market. The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India, and Brazil. According to the World Bank, the world’s middle-class population – defined as earning between $10 and $100 per day – increased from approximately 1.5 to 2 billion. Moreover, China’s economy grew by 6.9% and India’s GDP grew by 7.1%. Increased earnings greatly increased disposable incomes in emerging markets, contributing to the watch, clock, and measuring device market growth.
Key Industry Players
Major companies operating in the watch, clock, measuring device market include <b>Apple Inc., Fitbit Inc., Samsung Electronics Co. Ltd., Garmin ltd., Huawei Investment & Holding Co. Ltd., Lvmh Moet Hennessy Louis Vuitton SE, Rolex SA, Citizen Watch Co. Ltd., Seiko Holdings Corporation, Casio Computer Co. Ltd., Fossil Group Inc., Timex Group B.V., Swatch Group AG, Patek Philippe SA, The Timken Company, The L.S. Starrett Company, The G-SHOCK Company Ltd., The Bulova Corporation, The Movado Group Inc., The Tissot Company, The Invicta Watch Group, The Shinola Company, Breitling SA, Omega SA, Longines Watch Co. Francillon Ltd., TAG Heuer SA, Audemars Piguet Holding SA, Vacheron Constantin SA, Jaeger-LeCoultre SA, IWC Schaffhausen, Panerai, Cartier SA, Piaget SA, Montblanc International GmbH, Girard-Perregaux SA, Ulysse Nardin SA, Zenith SA, Breguet SA, Blancpain SA, Chopard SA, Hublot SA</b>
The watch, clock, measuring device market report table of contents includes:
1. Executive Summary
2. Watch, Clock, Measuring Device Market Characteristics
3. Watch, Clock, Measuring Device Market Trends And Strategies
4. Watch, Clock, Measuring Device Market – Macro Economic Scenario
5. Global Watch, Clock, Measuring Device Market Size and Growth
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31. Global Watch, Clock, Measuring Device Market Competitive Benchmarking
32. Global Watch, Clock, Measuring Device Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Watch, Clock, Measuring Device Market
34. Watch, Clock, Measuring Device Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Apple Inc
Fitbit Inc.
Garmin ltd.
Huawei Investment & Holding Co. Ltd
Lvmh Moet Hennessy Louis Vuitton SE
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