Forecast The Global Luxury Watches Market To Grow At a CAGR Of 2.98% During The Period 2017-2021
Luxury goods are defined as products that are not required but highly desirable. The meaning of luxury is very subjective in nature. Based on an individual's perception of such goods, luxury can be defined in various ways. Luxury goods are products associated with affluence.
A luxury watch is a high-quality, expensive timepiece used by upper-class individuals. It is more of a style statement than a necessity.
Technavios analysts forecast the global luxury watch market to grow at a CAGR of 2.98% during the period 20172021.
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Covered in this report
The report covers the present scenario and the growth prospects of the global luxury watch market for 20172021. To calculate the market size, the report considers the revenue generated from retail sales of personal luxury goods to individual customers.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Luxury Watch Market 20172021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
LVMH
Richemont
Rolex
Swatch Group
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Other prominent vendors
BREITLING
Burberry
Chopard International
CITIZEN WATCH COMPANY OF AMERICA
Festina
Fossil Group
Movado Group
PATEK PHILIPPE
Seiko Watch
Market driver
Premiumization through product design and innovation
For a full, detailed list, view our report
Market challenge
Decline in profit margins of vendors and retailers
For a full, detailed list, view our report
Market trend
Customization of luxury watches
For a full, detailed list, view our report
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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