High brand value of luxury watches, along with the increasing per-capita income in developed economies is estimated to boost the market growth.
The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021-2029.
High price of luxury watches, along with increasing circulation of cheap replicas in the market are estimated to hamper the market growth.
The North America region is estimated to provide most growth opportunities over the forecast period on the back of high disposable income of the consumers.
The major players in the market are Burberry Group plc, CASIO COMPUTER CO., LTD., CHANEL, Dolce&Gabbana S.r.l., Seiko Watch Corporation, Giorgio Armani S.p.A., PATEK PHILIPPE SA GENEVE, and Titan Company Limited.