In 2023, the value per capita for clocks or watch parts in India was USD 0.087. From 2024 to 2028, the market is forecasted to grow steadily. The year-on-year percentage increases are as follows: 3.45% from 2024 to 2025, 2.15% from 2025 to 2026, 2.11% from 2026 to 2027, and 3.09% from 2027 to 2028. Over the last five years, the Compound Annual Growth Rate (CAGR) would be approximately 2.54%, indicating a consistent upward trend.
Future trends to watch for include technological advancements in smartwatches and IoT integration, increased demand for luxury watch components, and potential impacts of global supply chain shifts. Consumer preferences towards premium and personalized products may also drive higher market values.
