January 27, 2021
According to the research report titled ‘GCC Wrist Watch Market Analysis, 2020’, available with Market Study Report, GCC wrist watch market is predicted to record considerable growth during 2020-2025.
Introduction of several innovative products by top vendors and soaring demand of smartwatches owing to the rising cognizance regarding health among customers are the key factors stimulating GCC wrist watch market size growth.
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In addition, rising disposable income with increasing working population, along with shifting preference of the adult population towards luxury watches, as a symbol of status, is further adding to the overall market outlook.
The latest GCC wrist watch market research report presents a complete assessment of the key trends and factors influencing the dynamics of this industry vertical. It helpsbusinesses to take well-informed decisions and make them future ready.
Also, it offers valuable insights in terms of the future growth trajectory of this domain by meticulously probing the past and present business scenario. Furthermore, the document envelops in-depth information regarding size and shares of the market and its segments, while unveiling the lucrative growth prospects that can translate into profits in the succeeding years.
Based on type, the industry is segmented into low, economy, mid luxury, and luxury.
With respect to country of origin, the market is split into Swiss, Japanese, and others. The swiss watches held a major portion of GCC wrist watch market in 2019, attributable to growing imports in economies such as Saudi Arabia and UAE. As per Federation of Swiss Watch industry, Saudi Arabia ranked 13th and UAE stood at the 10th positions in 2019. The report states that swiss watches import in UAE has went up from USD 900.37 million to USD 938.6 million in 2019.
Elaborating on style, GCC wrist watch industry is divided into smart, analog & digital, digital, and analog. Citing the regional landscape, the country-level bifurcation consists of Oman, Bahrain, Kuwait, Qatar, UAE, and Saudi Arabia among others.
Major firms impacting GCC wrist watch market trends are Fitbit Inc., Garmin Ltd., Samsung Electronics Co. Ltd., Amazfit, Seiko Holdings Corporation, LVMH Moët Hennessy Louis Vuitton, Rolex, Huawei Technologies Co. Ltd., Apple Inc., Casio Computer Co. Ltd., and Titan Company Limited among others.