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DUBLIN--(BUSINESS WIRE)--Nov 11, 2022--
The "Global Luxury Watch Market Size, Trends And Growth Opportunity, By Type, By End User, By Distribution Channel, By Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Luxury Watch Market was valued at US$45,661.6 million in 2021 and it is expected to reach at US$51,315.5 million in 2027 at a CAGR of 1.84 % during forecast period 2022-2027.
Companies Mentioned
High-end, high-quality accessories made by master artisans include luxury timepieces in their price range. They are fashioned of valuable metals like platinum, gold, and silver, and are embellished with gems like diamonds and rubies. In order to enhance a person's personality and sense of style, they are worn on the wrist. These luxury watches may easily be distinguished from their more affordable counterparts due to the fact that they are more expensive, exclusive, and handcrafted rather than mass-produced.
Market Drivers
The development in brand awareness has influenced Westernization, the innate craving for exclusivity, and rising fashion consciousness among people. Additional key elements that are anticipated to contribute to the luxury watch market's estimated growth rate are product enhancement, the use of social media platforms to increase consumer involvement and knowledge of product launches, and the adoption of appropriate distribution channels.
Market Restraints
The main factor limiting the growth of the luxury watch market is the high price of the luxury watch and the quick rise in the price of the production process. Moreover, the prevalence of these items' counterfeits during the anticipated time may pose a threat to the market's growth rate for luxury watches.
Market Segmentation
By Type
By End User
By Distribution Channel
Key Question Addressed by the Report
For more information about this report visit https://www.researchandmarkets.com/r/dbvx7d
View source version on businesswire.com:https://www.businesswire.com/news/home/20221111005191/en/
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KEYWORD:
INDUSTRY KEYWORD: FASHION RETAIL JEWELRY DIGITAL MARKETING COMMUNICATIONS LUXURY SOCIAL MEDIA
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/11/2022 05:44 AM/DISC: 11/11/2022 05:44 AM
http://www.businesswire.com/news/home/20221111005191/en