The global market for the women’s watch market is estimated to be worth USD 20,890.6 million in 2021 and is anticipated to reach a value of USD 37,411.9 million by 2031. Sales are projected to rise at a CAGR of 6.0% over the forecast period between 2021 and 2031. The revenue generated by the women’s watch market in 2020 was USD 20,262.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 3.1% in 2021.
Global Women’s Watch Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 20,262.5 million |
| Estimated Size, 2021 (E) | ~USD 20,890.6 million |
| Projected Size, 2031 (F) | ~USD 37,411.9 million |
| Value-based CAGR (2021 to 2031) | ~6.0% |
The target market is segmented under product type, price, and distribution channel. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The women’s watch market is also growing at an improving trend due to increased consciousness of elegant & quality accessories that are useful. Since women want versatile and suit different occasions accessories, watch manufacturing companies are now coming up with more diverse designs, materials, and incorporated functions.
Smartwatches are also a growing market, catering primarily to tech-savvy individuals who are interested in functionality that monitors their health and allows them to connect with others.
Furthermore, sustainability trends are influencing consumers and manufacturers to adopt environmentally friendly materials and production methods that are socially responsible. Another emerging trend is the niche and bespoke products, which provide consumers with the feeling of individuality.
The competitive landscape of the women’s watch market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include The Swatch Group Ltd, Daniel Wellington, Apple Inc., and Helios, among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 16,521.3 million and is predicted to rise approximately 1.8 times the current market value through 2031.
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The rise in the number of working women has accelerated the sales of women’s watches across the globe. Also, the increase in innovative and customized designs is anticipated to drive the market in the next few years.
Usage of women watch is no longer limited to offices and functions. Women wear these watches as a fashion statement. Moreover, watches are gifted on various occasions or events like birthdays and anniversaries. This consumption behaviour is expected to positively impact market growth.
Furthermore, the trend of smartwatches among women nowadays drives the women’s watch market. Many prominent key players in the women’s watch industry include Withings Steel, Fitbit Versa Smart Watch, are investing in the research and development sector for introducing smartwatches with a more efficient battery, excellent performance and advance features like connect with GPS, receive calls and texts.
Many players are principally engaged in introducing varieties of attractive designs at affordable prices. This innovation and new launch gives the opportunity to the customers to choose the watch according to their budget and also encourage other players to invest in this sector which drives the market during the forecast period.
Growing awareness regarding health among women all around the globe has resulted in the raised women’s spending on health care gadgets, which has further lead the market of smartwatches. This smartwatch has multiple features like walk tracking, analyze heartbeat rate, connect with smartphones and other advanced applications which has raised the sales of women’s smartwatches.
For instance, Fossile launched Gen 4 Venture, an impressive watch for women. Apart from good looks, this watch offers extra features to the customers like recording the activity done by the women as well as the Calories burned while doing physical activity. These watches can be used as a sleep monitoring device. All these advanced features offered by manufacturers are anticipated to drive the demand for jewellery over the forecast period.
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The ladies of the United States and Canada are technologically outstanding and have a higher mission for strong advancements with a vision to make life simpler. Young ladies in the region are more aware of smart technology which has increased the demand for smartwatches in the region.
Moreover, for expanding the product portfolio of smartwatches in the region, many prominent players like Zelos, Shreve & Co., VANNA and Fossil continuously launching smartwatches at different price ranges.
For instance, Fossil launched a smartwatch that keeps the record of the user physical activity and also monitors the heartbeat and the blood pressure of the person. This helps the player to strengthen their presence in the regional market.
According to the report of BMI in 2019, 37% to 58% women in Italy and Croatia suffer from obesity, which is increasing the demand for health gadgets like fitness band/watch in the European market.
The growing popularity of fitness watches among women, which also helps in recording body activity like cycling, swimming laps, daily steps, sleeping pattern, pulse rate and blood pressure. These advanced features encourage women to buy a smartwatch to accessing their regular activates including calories intake. Furthermore, the rising income of people enabling them to buy such smart products which also meet their requirements and desires.
Moreover, with an aim of business expansion and growing business portfolio, players are creating a partnership with the regional distributors to get feedback from the customers and fulfil the demands of the customers. This helps the players to generate more revenue.
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Some of the leading manufacturers and suppliers of ladies watches include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Women’s Watch Market
