Global automatic watch market
is segmented on the basis of product type, distribution channel and geography. An
automatic or self-winding watch is a mechanical watch in which the mainspring
is wound automatically as a result of the natural motion of the wearer to
provide energy to run the watch, making manual winding unnecessary. A
mechanical watch which is neither self-winding nor electrically driven is
called a manual watch. Most mechanical watches manufactured today are
self-winding.
The automatic watch market has
been undergoing rapid technological changes with vendors coming up with several
new features. The high demand for Swiss made luxury watches known for its
quality and design is driving the growth of the automatic watch industry. The
rise in online retailing has also contributed to the growth in the market of
automatic watch. The increased access to smartphones and consumer banking
systems has led to the rise in demand for watches through the e-commerce
medium.
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Rising demand for sport
watches is the latest trend gaining potential in the automatic watch industry.
Inclination towards a healthy lifestyle and participation in sporting
activities propels the demand for sports watches. Such watches are worth to use
while running, biking, hiking and other outdoor activities. The built-in GPS
enables the person to track distance, pace, time and amount of calories
consumed. In addition to sports performance, these sports watches keep a track
of altitude, barometric pressure and ambient temperature. The leading brands in
sports watches are Casio, Garmin, Nike, Polar, Seiko and Suunto.
On the basis of product type,
the automatic watch market is segmented into mechanical, quartz and so on.
“Quartz” watches are the largest segment of the automatic watch market. These
watches have low maintenance cost are preferred for daily usage. The “quartz”
segment is further classified into analog and digital. Analog quartz watches
are considered as a better fashion accessory while digital watches are gaining
popularity in emerging countries.While the segment “mechanical watches” can be
further classified into automatic and hand wound. It has huge market potential
due to increasing technological design innovations. Moreover, the current
positioning of this product enables users to make a style statement.
On the basis of distribution
channel, the automatic watch market is segmented into specialist retailers,
departmental stores, internet retailing and so on.On the basis of geography,
the automatic watch market is segmented into Europe, Asia Pacific, Latin
America, Middle East & Africa and North America.Asia Pacific to dominate
the automatic watch market with a market share of around 49% during the
forecast period. The growing number of high net worth individuals (HNWI) and
the extensive portfolio of products being offered are expected to fuel the
growth of the market in this region.
The global key players in
automatic watch market are Invicta Watch, Seiko Watches, Fossil, Kairos
Watches, Gevril Group, Stuhrling Original, American Coin Treasures, Charles
Hubert, Akribos XXIV, Adee Kaye Beverly Hills, Bulova Oris, Hamilton, Rougois,
Tissot, Zeon America, IWC, Luch, Pobeda, Poljot, Raketa, Vostok, Rolex, Tag
Heuer, Movado, Audemars Piguet, Baume & Mercier, Blancpain and Breguet.
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