Global Watch, Clock, Measuring Device Market Size, Drivers, Trends, Opportunities And Strategies – Includes Watch, Clock, Measuring Device Market Strategy
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rise in disposable incomes are expected to drive innovation in watch, clock, measuring device manufacturing, thus driving the market during the forecast period.
The global watch, clock, measuring device market is expected to grow from $93.38 billion in 2022 to $104.21 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. The global watch, clock, measuring device market size is expected to grow to $156.4 billion in 2027 at a CAGR of 10.7%.
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Global Watch, Clock, Measuring Device Market Segments Include:
- By Type:Watches and Clocks, Measuring Devices
- By Price Range:Low Range, Mid-Range, Luxury
- By Distribution Channel:Offline Retail Stores, Online Retail Stores
- By End User Sex:Women, Men, Unisex
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global watch, clock, measuring device market in 2021.
Major Market Players in the watch, clock, measuring device market include Apple Inc., Fitbit Inc., Samsung Electronics Co., Ltd., Garmin Ltd., Huawei Investment & Holding Co., Ltd.
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. G For instance, in February 2021, according to Eurostat, the Luxembourg-based statistical office of the European Union, responsible for publishing high-quality statistics, the use of smartwatches, fitness bands, internet-linked goggles or headsets, and other internet-connected accessories was reported by nearly one-fifth (19%) of EU citizens ages 16 to 74. Moreover, younger individuals (aged 16–24) utilized these smart wearables more frequently (28%) than older individuals (aged 25–54) (23%), who were followed by older individuals (aged 55–64) with 11%.
The Watch, Clock, Measuring Device Global Market Report 2023 provides a watch, clock, measuring device market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The watch, clock, measuring device market forecast analyzes watch, clock, measuring device market size, watch, clock, measuring device market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A watch is a portable timepiece worn by individuals around the wrist and 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 physical parameters. Watches, clocks, and measuring devices are used for measuring time and physical quantity.
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