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Watch, Clock, Measuring Device Global Market Report 2022

Watch, Clock, Measuring Device Global Market Report 2022

  • March 2022
  • 175 pages
  • ID: 6247469
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the watch, clock, measuring device market are Apple Inc., Fitbit Inc., Samsung Electronics Co. Ltd., Garmin ltd., Huawei Investment & Holding Co., Ltd., Lvmh Moet Hennessy Louis Vuitton SE, and Rolex SA.

The global watch, clock, measuring device market is expected to grow from $88.83 billion in 2021 to $114.66 billion in 2022 at a compound annual growth rate (CAGR) of 29.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $287.85 billion in 2026 at a CAGR of 25.9%.

The watch, clock, measuring device market consists of sales of the watch, clock, measuring device, and related services for measuring time and physical quantity.Watch is a portable timepiece worn by individuals around the wrist, attached by a strap.

A clock is a device used for measuring and indicating time, using pointers moving over a dial. A measuring device is an instrument used to measure various parameters in the physical used to measure various parameters.

The main types in the watch, clock, and measuring device are watches and clocks, measuring devices.A measuring instrument is a device that is used to estimate the quantity of a parameter.

Measurement is the process of collecting and analyzing physical quantities of real-world objects and events in the physical sciences, quality assurance, and engineering.The various price ranges are low range, mid-range, and luxury.

The various distribution channels are offline retail stores, online retail stores. The various end-user are women, men, and unisex.

The Asia Pacific is the largest region in the watch, clock, measuring device market in 2021.North America is the second-largest region in the watch, clock, measuring device market.

The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The rise in disposable incomes was a major driver of the watch, clock, 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 that earning between $10 and $100 per day – increased from approximately 1.5 to 2 billion. Moreover, China’s economy grew at 6.9% and India’s GDP grew at 7.1%. Increased earnings greatly increased disposable incomes in the emerging markets, contributing to the watch, clock, measuring device market’s growth.

Rising trade protectionism acts as a major challenge in the watch, clock, measuring device market.Trade protectionism is characterized as a country, or a group of countries working related as an exchange alliance, making exchange boundaries with the particular objective of protecting its economy from the potential dangers of worldwide trading.

The target of trade protectionism is to ensure a country’s fundamental monetary interests, for example, its key ventures, wares, and work of laborers.A wide number of trade barriers have been introduced since mid-2018, the major one has been higher tariffs on bilateral trade between the US and China.

This increase in protectionism has contributed to a slowdown in global growth through direct effects on trade flows, supply chains, and import costs, and indirect effects on business sentiment, uncertainty, and investment around the world. Therefore, rising trade protectionism will negatively impact the watch, clock, measuring device market’s growth.

Internet of things (IoT) driven smartwatches are the highly preferred choice of watches.Smartwatches connected to the internet offer a wide range of features such as time, health monitoring, fitness tracking, receiving calls and messages, entertainment, cardless payments, and connectivity to other IoT devices to improve the quality of the user’s life.

With increasing consumers’ interests in health and fitness, convenience in day-to-day activities, and smart homes, wearable IoT devices such as smartwatches offer various features. The global smartwatch shipments increased to 14.2 million units in 2019.

In November 2019, Alphabet Inc., the parent company of Google, acquired smart watch maker, Fitbit, Inc. for a deal amount of US$ 2.1 billion. Alphabet said that the acquisition helps them in the advancement of its smartwatch software, Wear OS. Fitbit, Inc. is an American company that makes fitness bands, smartwatches, and accessories that helps in tracking footsteps, exercises, heart rate, and weight.

The countries covered in the watch, clock, measuring device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

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