The Watch, Clock, Measuring Device Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Watch, Clock, Measuring Device Global Market Report 2024, The watch, clock, measuring device market size has grown strongly in recent years. It will grow from $103.65 billion in 2023 to $113.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. 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 $160.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. 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.
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.
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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 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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26. South America Watch, Clock, Measuring Device Market
27. Brazil Watch, Clock, Measuring Device Market
28. Middle East Watch, Clock, Measuring Device Market
29. Africa Watch, Clock, Measuring Device Market
30. Watch, Clock, Measuring Device Market Competitive Landscape And Company Profiles
Top Major Players:
- Apple Inc
- Fitbit Inc
- Samsung Electronics Co. Ltd
- Garmin ltd
- Huawei Investment & Holding Co. Ltd
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