Luxury Watch Market size to grow by USD 2.91 billion from 2022 to 2027, Burberry Group Plc, Casio Computer Co. Ltd., CHANEL Ltd., Citizen Watch Co. Ltd., and more among the key companies in the market – Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ — The luxury watch market size is set to grow by USD 2.91 billion between 2022 and 2027 and register a CAGR of 1.61%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the major vendors of the luxury watch market include Burberry Group Plc, Casio Computer Co. Ltd., CHANEL Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., The Swatch Group Ltd., FESTINA LOTUS SA, and Breitling SA. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market.This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that help global businesses achieve bigger growth opportunities. View Sample Report

The report also covers the following areas:
Luxury Watch Market sizeLuxury Watch Market trendsLuxury Watch Market industry analysisLuxury Watch Market 2023-2027: Segmentation
End-user MenWomenDistribution Channel OfflineOnlineGeography EuropeNorth AmericaAPACMiddle East And AfricaSouth AmericaThe market share growth by the men segment will be significant for the growth of the market during the forecast period. The segment growth is driven by the various new product offerings and the ability to personalize and customize products. Vendors are luring customers by offering affordable luxury watches to increase their revenue share, which is anticipated to increase the demand for high-end watches among men. Hence, during the forecast period, such product launches are anticipated to propel the growth of the men’s segment of the global market.
Explore the severe impact of each segment on the market growth, buy now!
Vendor Offerings
Burberry Group Plc – The company offers luxury watches under the brand Burberry.Casio Computer Co. Ltd. – The company offers luxury watches such as G shock, Baby G, Pro Trek, Sheen, and Edifice.CHANEL Ltd. – The company offers luxury watches such as Premiere Edition Originale, Premiere Iconic Chain Watch, and Premiere Ribbon Watch.Market trends such as the growing demand for customized luxury watches are likely to support the growth of the market. However, factors such as the increased availability of counterfeit products may threaten the growth of the market.
Luxury Watch Market 2023-2027: Market Dynamics
Key Drivers
A major driving factor that is expected to fuel market growth is the growing influence of fashion trends.Watches have evolved into fashion accessories as a result of changes in consumer attitudes and consumption patterns.Manufacturers are taking advantage of this trend by offering a variety of products to appeal to all consumer demographics, particularly young people. Most manufacturers also regularly update and grow their product lines.Young and fashion-conscious consumers are the target market for trendy watches, which is likely to increase and will have a positive impact on the global market growth during the forecast period.Major Trends
An emerging trend in the luxury watch market is the growing demand for customized luxury watches.A variety of manufacturers around the world, including Hermes International, offer customized watches, which entails changing the bands, dials, and bezels.Moreover, the broad range of products offered by vendors enables them to attract new clients for customization. For instance, Rolex offers its customers the option to alter the strap, dial, and color of watches. The customization elevates the prices of these watches, which, in turn, is expected to drive the growth of the global market during the forecast period.Key Challenges
A major challenge impeding the luxury market growth is the decline in profit margins of vendors and retailers. The decline is a result of the high cost of raw materials and fierce vendor competition. To gain a competitive advantage, there is high pressure on retailers to stock luxury goods, such as expensive watches. However, this involves high inventory costs.Promotional offers from vendors also incur additional costs to retailers. The sales of watches in several top markets, including Asia and the Middle East, are impacted by the rising Swiss franc value, the drop in oil prices, and the unstable market conditions worldwide.Thus, such factors will pose a major challenge for the global market during the forecast period.Luxury Watch Market 2023-2027: Key Highlights
CAGR of the market during the forecast period 2023-2027Detailed information on factors that will assist luxury watch market growth during the forecast periodEstimation of the luxury watch market size and its contribution to the parent marketPredictions on upcoming trends and changes in consumer behaviorThe growth of the luxury watch marketAnalysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of luxury watch market vendorsGet instant access to 17,000+ market research reports and world-class market intelligencne.Technavio’s SUBSCRIPTION platform
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The luxury handbags market is estimated to grow at a CAGR of 7.68% between 2022 and 2027. The size of the market is forecasted to increase by USD 29,125.59 million. This report extensively covers market segmentation by distribution channel (offline and online), type (handbag, backpack, wallet, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The high influence of celebrity endorsements on purchase decisions is notably driving market growth.The luxury massage chair market size in US is expected to increase by USD 724.28 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.42%. This report extensively covers segmentation by end-user (residential and commercial) and distribution channel (offline and online). The health benefits of massage chairs are notably driving the market growth.Luxury Watch Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 1.61%
Market growth 2023-2027
USD 2,910.23 million
Market structure
Fragmented
YoY growth 2022-2023(%)
1.05
Regional analysis
Europe, North America, APAC, Middle East and Africa, and South America
Performing market contribution
Europe at 27%
Key countries
US, China, Germany, France, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Burberry Group Plc, Casio Computer Co. Ltd., CHANEL Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., The Swatch Group Ltd., FESTINA LOTUS SA, and Breitling SA
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Table of Contents 
1 Executive Summary
1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by End-userExhibit 06: Executive Summary – Chart on Market Segmentation by Distribution ChannelExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning2 Market Landscape
2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics3 Market Sizing
3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)4 Historic Market Size
4.1 Global luxury watch market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on Global luxury watch market 2017 – 2021 (USD million)4.2 End user Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – End user Segment 2017 – 2021 (USD million)4.3 Distribution channel Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – Distribution channel Segment 2017 – 2021 (USD million)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)5 Five Forces Analysis
5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 20276 Market Segmentation by End-user
6.1 Market segmentsExhibit 30: Chart on End-user – Market share 2022-2027 (%)Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)6.2 Comparison by End-user Exhibit 32: Chart on Comparison by End-userExhibit 33: Data Table on Comparison by End-user6.3 Men – Market size and forecast 2022-2027 Exhibit 34: Chart on Men – Market size and forecast 2022-2027 (USD million)Exhibit 35: Data Table on Men – Market size and forecast 2022-2027 (USD million)Exhibit 36: Chart on Men – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Men – Year-over-year growth 2022-2027 (%)6.4 Women – Market size and forecast 2022-2027 Exhibit 38: Chart on Women – Market size and forecast 2022-2027 (USD million)Exhibit 39: Data Table on Women – Market size and forecast 2022-2027 (USD million)Exhibit 40: Chart on Women – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Women – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by End-user Exhibit 42: Market opportunity by End-user (USD million)Exhibit 43: Data Table on Market opportunity by End-user (USD million)7 Market Segmentation by Distribution Channel
7.1 Market segmentsExhibit 44: Chart on Distribution Channel – Market share 2022-2027 (%)Exhibit 45: Data Table on Distribution Channel – Market share 2022-2027 (%)7.2 Comparison by Distribution Channel Exhibit 46: Chart on Comparison by Distribution ChannelExhibit 47: Data Table on Comparison by Distribution Channel7.3 Offline – Market size and forecast 2022-2027 Exhibit 48: Chart on Offline – Market size and forecast 2022-2027 (USD million)Exhibit 49: Data Table on Offline – Market size and forecast 2022-2027 (USD million)Exhibit 50: Chart on Offline – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on Offline – Year-over-year growth 2022-2027 (%)7.4 Online – Market size and forecast 2022-2027 Exhibit 52: Chart on Online – Market size and forecast 2022-2027 (USD million)Exhibit 53: Data Table on Online – Market size and forecast 2022-2027 (USD million)Exhibit 54: Chart on Online – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Online – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Distribution Channel Exhibit 56: Market opportunity by Distribution Channel (USD million)Exhibit 57: Data Table on Market opportunity by Distribution Channel (USD million)8 Customer Landscape
8.1 Customer landscape overview Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria9 Geographic Landscape
9.1 Geographic segmentation Exhibit 59: Chart on Market share by geography 2022-2027 (%)Exhibit 60: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 61: Chart on Geographic comparisonExhibit 62: Data Table on Geographic comparison9.3 Europe – Market size and forecast 2022-2027 Exhibit 63: Chart on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 64: Data Table on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 65: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.4 North America – Market size and forecast 2022-2027 Exhibit 67: Chart on North America – Market size and forecast 2022-2027 (USD million)Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 (USD million)Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 75: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 76: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 77: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.7 South America – Market size and forecast 2022-2027 Exhibit 79: Chart on South America – Market size and forecast 2022-2027 (USD million)Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 (USD million)Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 83: Chart on US – Market size and forecast 2022-2027 (USD million)Exhibit 84: Data Table on US – Market size and forecast 2022-2027 (USD million)Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 Germany – Market size and forecast 2022-2027 Exhibit 87: Chart on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 88: Data Table on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 89: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.10 China – Market size and forecast 2022-2027 Exhibit 91: Chart on China – Market size and forecast 2022-2027 (USD million)Exhibit 92: Data Table on China – Market size and forecast 2022-2027 (USD million)Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)9.11 France – Market size and forecast 2022-2027 Exhibit 95: Chart on France – Market size and forecast 2022-2027 (USD million)Exhibit 96: Data Table on France – Market size and forecast 2022-2027 (USD million)Exhibit 97: Chart on France – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on France – Year-over-year growth 2022-2027 (%)9.12 UK – Market size and forecast 2022-2027 Exhibit 99: Chart on UK – Market size and forecast 2022-2027 (USD million)Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 (USD million)Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 103: Market opportunity by geography (USD million)Exhibit 104: Data Tables on Market opportunity by geography (USD million)10 Drivers, Challenges, and Trends
10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 105: Impact of drivers and challenges in 2022 and 202710.4 Market trends11 Vendor Landscape
11.1 Overview11.2 Vendor landscapeExhibit 106: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 107: Overview on factors of disruption11.4 Industry risksExhibit 108: Impact of key risks on business12 Vendor Analysis
12.1 Vendors coveredExhibit 109: Vendors covered12.2 Market positioning of vendors Exhibit 110: Matrix on vendor position and classification12.3 Burberry Group PlcExhibit 111: Burberry Group Plc – OverviewExhibit 112: Burberry Group Plc – Business segmentsExhibit 113: Burberry Group Plc – Key offeringsExhibit 114: Burberry Group Plc – Segment focus12.4 Casio Computer Co. Ltd. Exhibit 115: Casio Computer Co. Ltd. – OverviewExhibit 116: Casio Computer Co. Ltd. – Business segmentsExhibit 117: Casio Computer Co. Ltd. – Key newsExhibit 118: Casio Computer Co. Ltd. – Key offeringsExhibit 119: Casio Computer Co. Ltd. – Segment focus12.5 CHANEL Ltd.Exhibit 120: CHANEL Ltd. – OverviewExhibit 121: CHANEL Ltd. – Business segmentsExhibit 122: CHANEL Ltd. – Key offeringsExhibit 123: CHANEL Ltd. – Segment focus12.6 Citizen Watch Co. Ltd. Exhibit 124: Citizen Watch Co. Ltd. – OverviewExhibit 125: Citizen Watch Co. Ltd. – Business segmentsExhibit 126: Citizen Watch Co. Ltd. – Key offeringsExhibit 127: Citizen Watch Co. Ltd. – Segment focus12.7 Compagnie Financiere Richemont SA Exhibit 128: Compagnie Financiere Richemont SA – OverviewExhibit 129: Compagnie Financiere Richemont SA – Business segmentsExhibit 130: Compagnie Financiere Richemont SA – Key offeringsExhibit 131: Compagnie Financiere Richemont SA – Segment focus12.8 Daniel Wellington ABExhibit 132: Daniel Wellington AB – OverviewExhibit 133: Daniel Wellington AB – Product / ServiceExhibit 134: Daniel Wellington AB – Key offerings12.9 Fossil Group Inc.Exhibit 135: Fossil Group Inc. – OverviewExhibit 136: Fossil Group Inc. – Business segmentsExhibit 137: Fossil Group Inc. – Key offeringsExhibit 138: Fossil Group Inc. – Segment focus12.10 Le petit fils de L.U. Chopard and Cie SA Exhibit 139: Le petit fils de L.U. Chopard and Cie SA – OverviewExhibit 140: Le petit fils de L.U. Chopard and Cie SA – Product / ServiceExhibit 141: Le petit fils de L.U. Chopard and Cie SA – Key offerings12.11 LVMH Moet Hennessy Louis Vuitton SE Exhibit 142: LVMH Moet Hennessy Louis Vuitton SE – OverviewExhibit 143: LVMH Moet Hennessy Louis Vuitton SE – Business segmentsExhibit 144: LVMH Moet Hennessy Louis Vuitton SE – Key newsExhibit 145: LVMH Moet Hennessy Louis Vuitton SE – Key offeringsExhibit 146: LVMH Moet Hennessy Louis Vuitton SE – Segment focus12.12 Movado Group Inc.Exhibit 147: Movado Group Inc. – OverviewExhibit 148: Movado Group Inc. – Business segmentsExhibit 149: Movado Group Inc. – Key offeringsExhibit 150: Movado Group Inc. – Segment focus12.13 Breitling SAExhibit 151: Breitling SA – OverviewExhibit 152: Breitling SA – Product / ServiceExhibit 153: Breitling SA – Key offerings12.14 Ralph Lauren Corp.Exhibit 154: Ralph Lauren Corp. – OverviewExhibit 155: Ralph Lauren Corp. – Business segmentsExhibit 156: Ralph Lauren Corp. – Key offeringsExhibit 157: Ralph Lauren Corp. – Segment focus12.15 Rolex SAExhibit 158: Rolex SA – OverviewExhibit 159: Rolex SA – Product / ServiceExhibit 160: Rolex SA – Key offerings12.16 Seiko Holdings Corp.Exhibit 161: Seiko Holdings Corp. – OverviewExhibit 162: Seiko Holdings Corp. – Business segmentsExhibit 163: Seiko Holdings Corp. – Key offeringsExhibit 164: Seiko Holdings Corp. – Segment focus12.17 The Swatch Group Ltd. Exhibit 165: The Swatch Group Ltd. – OverviewExhibit 166: The Swatch Group Ltd. – Business segmentsExhibit 167: The Swatch Group Ltd. – Key offeringsExhibit 168: The Swatch Group Ltd. – Segment focus13 Appendix
13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 169: Inclusions checklistExhibit 170: Exclusions checklist13.3 Currency conversion rates for USUSD Exhibit 171: Currency conversion rates for USUSD13.4 Research methodologyExhibit 172: Research methodologyExhibit 173: Validation techniques employed for market sizingExhibit 174: Information sources13.5 List of abbreviations Exhibit 175: List of abbreviationsAbout US
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SOURCE Technavio 

NEW YORK, Oct. 26, 2023 /PRNewswire/ — The luxury watch market size is set to grow by USD 2.91 billion between 2022 and 2027 and register a CAGR of 1.61%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the major vendors of the luxury watch market include Burberry Group Plc, Casio Computer Co. Ltd., CHANEL Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., The Swatch Group Ltd., FESTINA LOTUS SA, and Breitling SA. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market.This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that help global businesses achieve bigger growth opportunities. View Sample Report

The report also covers the following areas:

Luxury Watch Market sizeLuxury Watch Market trendsLuxury Watch Market industry analysis

Luxury Watch Market 2023-2027: Segmentation

End-user MenWomenDistribution Channel OfflineOnlineGeography EuropeNorth AmericaAPACMiddle East And AfricaSouth America

The market share growth by the men segment will be significant for the growth of the market during the forecast period. The segment growth is driven by the various new product offerings and the ability to personalize and customize products. Vendors are luring customers by offering affordable luxury watches to increase their revenue share, which is anticipated to increase the demand for high-end watches among men. Hence, during the forecast period, such product launches are anticipated to propel the growth of the men’s segment of the global market.

Explore the severe impact of each segment on the market growth, buy now!

Vendor Offerings

Burberry Group Plc – The company offers luxury watches under the brand Burberry.Casio Computer Co. Ltd. – The company offers luxury watches such as G shock, Baby G, Pro Trek, Sheen, and Edifice.CHANEL Ltd. – The company offers luxury watches such as Premiere Edition Originale, Premiere Iconic Chain Watch, and Premiere Ribbon Watch.

Market trends such as the growing demand for customized luxury watches are likely to support the growth of the market. However, factors such as the increased availability of counterfeit products may threaten the growth of the market.

Luxury Watch Market 2023-2027: Market Dynamics

Key Drivers

A major driving factor that is expected to fuel market growth is the growing influence of fashion trends.Watches have evolved into fashion accessories as a result of changes in consumer attitudes and consumption patterns.Manufacturers are taking advantage of this trend by offering a variety of products to appeal to all consumer demographics, particularly young people. Most manufacturers also regularly update and grow their product lines.Young and fashion-conscious consumers are the target market for trendy watches, which is likely to increase and will have a positive impact on the global market growth during the forecast period.

Major Trends

An emerging trend in the luxury watch market is the growing demand for customized luxury watches.A variety of manufacturers around the world, including Hermes International, offer customized watches, which entails changing the bands, dials, and bezels.Moreover, the broad range of products offered by vendors enables them to attract new clients for customization. For instance, Rolex offers its customers the option to alter the strap, dial, and color of watches. The customization elevates the prices of these watches, which, in turn, is expected to drive the growth of the global market during the forecast period.

Key Challenges

A major challenge impeding the luxury market growth is the decline in profit margins of vendors and retailers. The decline is a result of the high cost of raw materials and fierce vendor competition. To gain a competitive advantage, there is high pressure on retailers to stock luxury goods, such as expensive watches. However, this involves high inventory costs.Promotional offers from vendors also incur additional costs to retailers. The sales of watches in several top markets, including Asia and the Middle East, are impacted by the rising Swiss franc value, the drop in oil prices, and the unstable market conditions worldwide.Thus, such factors will pose a major challenge for the global market during the forecast period.

Luxury Watch Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027Detailed information on factors that will assist luxury watch market growth during the forecast periodEstimation of the luxury watch market size and its contribution to the parent marketPredictions on upcoming trends and changes in consumer behaviorThe growth of the luxury watch marketAnalysis of the market’s competitive landscape and detailed information on vendorsComprehensive details of factors that will challenge the growth of luxury watch market vendors

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Related Reports:

The luxury handbags market is estimated to grow at a CAGR of 7.68% between 2022 and 2027. The size of the market is forecasted to increase by USD 29,125.59 million. This report extensively covers market segmentation by distribution channel (offline and online), type (handbag, backpack, wallet, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The high influence of celebrity endorsements on purchase decisions is notably driving market growth.The luxury massage chair market size in US is expected to increase by USD 724.28 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.42%. This report extensively covers segmentation by end-user (residential and commercial) and distribution channel (offline and online). The health benefits of massage chairs are notably driving the market growth.

Luxury Watch Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 1.61%

Market growth 2023-2027

USD 2,910.23 million

Market structure

Fragmented

YoY growth 2022-2023(%)

1.05

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 27%

Key countries

US, China, Germany, France, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Burberry Group Plc, Casio Computer Co. Ltd., CHANEL Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, Dolce and Gabbana S.r.l, Fossil Group Inc., Hermes International SA, Kering SA, Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., The Swatch Group Ltd., FESTINA LOTUS SA, and Breitling SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio’s Consumer Discretionary Reports

Table of Contents 

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by End-userExhibit 06: Executive Summary – Chart on Market Segmentation by Distribution ChannelExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global luxury watch market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on Global luxury watch market 2017 – 2021 (USD million)4.2 End user Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – End user Segment 2017 – 2021 (USD million)4.3 Distribution channel Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – Distribution channel Segment 2017 – 2021 (USD million)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

6.1 Market segmentsExhibit 30: Chart on End-user – Market share 2022-2027 (%)Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)6.2 Comparison by End-user Exhibit 32: Chart on Comparison by End-userExhibit 33: Data Table on Comparison by End-user6.3 Men – Market size and forecast 2022-2027 Exhibit 34: Chart on Men – Market size and forecast 2022-2027 (USD million)Exhibit 35: Data Table on Men – Market size and forecast 2022-2027 (USD million)Exhibit 36: Chart on Men – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Men – Year-over-year growth 2022-2027 (%)6.4 Women – Market size and forecast 2022-2027 Exhibit 38: Chart on Women – Market size and forecast 2022-2027 (USD million)Exhibit 39: Data Table on Women – Market size and forecast 2022-2027 (USD million)Exhibit 40: Chart on Women – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Women – Year-over-year growth 2022-2027 (%)6.5 Market opportunity by End-user Exhibit 42: Market opportunity by End-user (USD million)Exhibit 43: Data Table on Market opportunity by End-user (USD million)

7 Market Segmentation by Distribution Channel

7.1 Market segmentsExhibit 44: Chart on Distribution Channel – Market share 2022-2027 (%)Exhibit 45: Data Table on Distribution Channel – Market share 2022-2027 (%)7.2 Comparison by Distribution Channel Exhibit 46: Chart on Comparison by Distribution ChannelExhibit 47: Data Table on Comparison by Distribution Channel7.3 Offline – Market size and forecast 2022-2027 Exhibit 48: Chart on Offline – Market size and forecast 2022-2027 (USD million)Exhibit 49: Data Table on Offline – Market size and forecast 2022-2027 (USD million)Exhibit 50: Chart on Offline – Year-over-year growth 2022-2027 (%)Exhibit 51: Data Table on Offline – Year-over-year growth 2022-2027 (%)7.4 Online – Market size and forecast 2022-2027 Exhibit 52: Chart on Online – Market size and forecast 2022-2027 (USD million)Exhibit 53: Data Table on Online – Market size and forecast 2022-2027 (USD million)Exhibit 54: Chart on Online – Year-over-year growth 2022-2027 (%)Exhibit 55: Data Table on Online – Year-over-year growth 2022-2027 (%)7.5 Market opportunity by Distribution Channel Exhibit 56: Market opportunity by Distribution Channel (USD million)Exhibit 57: Data Table on Market opportunity by Distribution Channel (USD million)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 59: Chart on Market share by geography 2022-2027 (%)Exhibit 60: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 61: Chart on Geographic comparisonExhibit 62: Data Table on Geographic comparison9.3 Europe – Market size and forecast 2022-2027 Exhibit 63: Chart on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 64: Data Table on Europe – Market size and forecast 2022-2027 (USD million)Exhibit 65: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.4 North America – Market size and forecast 2022-2027 Exhibit 67: Chart on North America – Market size and forecast 2022-2027 (USD million)Exhibit 68: Data Table on North America – Market size and forecast 2022-2027 (USD million)Exhibit 69: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on North America – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 (USD million)Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 75: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 76: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD million)Exhibit 77: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 78: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.7 South America – Market size and forecast 2022-2027 Exhibit 79: Chart on South America – Market size and forecast 2022-2027 (USD million)Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 (USD million)Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 83: Chart on US – Market size and forecast 2022-2027 (USD million)Exhibit 84: Data Table on US – Market size and forecast 2022-2027 (USD million)Exhibit 85: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 86: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 Germany – Market size and forecast 2022-2027 Exhibit 87: Chart on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 88: Data Table on Germany – Market size and forecast 2022-2027 (USD million)Exhibit 89: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 90: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.10 China – Market size and forecast 2022-2027 Exhibit 91: Chart on China – Market size and forecast 2022-2027 (USD million)Exhibit 92: Data Table on China – Market size and forecast 2022-2027 (USD million)Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)9.11 France – Market size and forecast 2022-2027 Exhibit 95: Chart on France – Market size and forecast 2022-2027 (USD million)Exhibit 96: Data Table on France – Market size and forecast 2022-2027 (USD million)Exhibit 97: Chart on France – Year-over-year growth 2022-2027 (%)Exhibit 98: Data Table on France – Year-over-year growth 2022-2027 (%)9.12 UK – Market size and forecast 2022-2027 Exhibit 99: Chart on UK – Market size and forecast 2022-2027 (USD million)Exhibit 100: Data Table on UK – Market size and forecast 2022-2027 (USD million)Exhibit 101: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 102: Data Table on UK – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 103: Market opportunity by geography (USD million)Exhibit 104: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 105: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 106: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 107: Overview on factors of disruption11.4 Industry risksExhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 109: Vendors covered12.2 Market positioning of vendors Exhibit 110: Matrix on vendor position and classification12.3 Burberry Group PlcExhibit 111: Burberry Group Plc – OverviewExhibit 112: Burberry Group Plc – Business segmentsExhibit 113: Burberry Group Plc – Key offeringsExhibit 114: Burberry Group Plc – Segment focus12.4 Casio Computer Co. Ltd. Exhibit 115: Casio Computer Co. Ltd. – OverviewExhibit 116: Casio Computer Co. Ltd. – Business segmentsExhibit 117: Casio Computer Co. Ltd. – Key newsExhibit 118: Casio Computer Co. Ltd. – Key offeringsExhibit 119: Casio Computer Co. Ltd. – Segment focus12.5 CHANEL Ltd.Exhibit 120: CHANEL Ltd. – OverviewExhibit 121: CHANEL Ltd. – Business segmentsExhibit 122: CHANEL Ltd. – Key offeringsExhibit 123: CHANEL Ltd. – Segment focus12.6 Citizen Watch Co. Ltd. Exhibit 124: Citizen Watch Co. Ltd. – OverviewExhibit 125: Citizen Watch Co. Ltd. – Business segmentsExhibit 126: Citizen Watch Co. Ltd. – Key offeringsExhibit 127: Citizen Watch Co. Ltd. – Segment focus12.7 Compagnie Financiere Richemont SA Exhibit 128: Compagnie Financiere Richemont SA – OverviewExhibit 129: Compagnie Financiere Richemont SA – Business segmentsExhibit 130: Compagnie Financiere Richemont SA – Key offeringsExhibit 131: Compagnie Financiere Richemont SA – Segment focus12.8 Daniel Wellington ABExhibit 132: Daniel Wellington AB – OverviewExhibit 133: Daniel Wellington AB – Product / ServiceExhibit 134: Daniel Wellington AB – Key offerings12.9 Fossil Group Inc.Exhibit 135: Fossil Group Inc. – OverviewExhibit 136: Fossil Group Inc. – Business segmentsExhibit 137: Fossil Group Inc. – Key offeringsExhibit 138: Fossil Group Inc. – Segment focus12.10 Le petit fils de L.U. Chopard and Cie SA Exhibit 139: Le petit fils de L.U. Chopard and Cie SA – OverviewExhibit 140: Le petit fils de L.U. Chopard and Cie SA – Product / ServiceExhibit 141: Le petit fils de L.U. Chopard and Cie SA – Key offerings12.11 LVMH Moet Hennessy Louis Vuitton SE Exhibit 142: LVMH Moet Hennessy Louis Vuitton SE – OverviewExhibit 143: LVMH Moet Hennessy Louis Vuitton SE – Business segmentsExhibit 144: LVMH Moet Hennessy Louis Vuitton SE – Key newsExhibit 145: LVMH Moet Hennessy Louis Vuitton SE – Key offeringsExhibit 146: LVMH Moet Hennessy Louis Vuitton SE – Segment focus12.12 Movado Group Inc.Exhibit 147: Movado Group Inc. – OverviewExhibit 148: Movado Group Inc. – Business segmentsExhibit 149: Movado Group Inc. – Key offeringsExhibit 150: Movado Group Inc. – Segment focus12.13 Breitling SAExhibit 151: Breitling SA – OverviewExhibit 152: Breitling SA – Product / ServiceExhibit 153: Breitling SA – Key offerings12.14 Ralph Lauren Corp.Exhibit 154: Ralph Lauren Corp. – OverviewExhibit 155: Ralph Lauren Corp. – Business segmentsExhibit 156: Ralph Lauren Corp. – Key offeringsExhibit 157: Ralph Lauren Corp. – Segment focus12.15 Rolex SAExhibit 158: Rolex SA – OverviewExhibit 159: Rolex SA – Product / ServiceExhibit 160: Rolex SA – Key offerings12.16 Seiko Holdings Corp.Exhibit 161: Seiko Holdings Corp. – OverviewExhibit 162: Seiko Holdings Corp. – Business segmentsExhibit 163: Seiko Holdings Corp. – Key offeringsExhibit 164: Seiko Holdings Corp. – Segment focus12.17 The Swatch Group Ltd. Exhibit 165: The Swatch Group Ltd. – OverviewExhibit 166: The Swatch Group Ltd. – Business segmentsExhibit 167: The Swatch Group Ltd. – Key offeringsExhibit 168: The Swatch Group Ltd. – Segment focus

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 169: Inclusions checklistExhibit 170: Exclusions checklist13.3 Currency conversion rates for USUSD Exhibit 171: Currency conversion rates for USUSD13.4 Research methodologyExhibit 172: Research methodologyExhibit 173: Validation techniques employed for market sizingExhibit 174: Information sources13.5 List of abbreviations Exhibit 175: List of abbreviations

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Jesse Maida
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Email: media@technavio.com
Website: www.technavio.com/

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