Dublin, Oct. 08, 2021 (GLOBE NEWSWIRE) -- The "United States Watch Market, By Product Type (Digital Watch, Analog Watch and Fitness Watch), By End User (Male, Female, Unisex), By Distribution Channel (Offline and Online), By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The United States Watch Market stood at USD13.62 billion in 2020 and is projected to cross USD17.80 billion by 2026, on account of strong economic conditions, increasing female workforce, continuous changing fashion trends, and changing consumer taste & preferences.
Wearing a watch is a form of self-expression that reflects style and personality. Today, most people who are wearing watches wear them as an accessory, i.e., a piece of jewelry that enhances style & appearances. Moreover, increasing disposable income and the affordable price of many brands make it a popular fashion choice.
This is the other key factor, which is expected to boost sales of the watches in the United States during the forecast period. In addition to it, a good-looking watch considerably improves the appearance and is suited to the clothes that individuals carry, and this is perhaps the most common reason individuals prefer to carry a watch.
However, evolution in the fashion industry increasing focus towards health and fitness across the country are the major driving factors for watch market in the United States during the forecast period. The demand for watches is growing at a robust rate due to rising consumer awareness towards a fit and healthy lifestyle. Many of the smartwatches include attributes that have been useful for sports enthusiasts.
The United States Watch Market is divided into the following segments such as by product type, by end-user, by distribution channel, by region, and by company. In terms of product type, the United States Watch Market is divided into digital watch, analog watch & fitness watch.
Among these, the digital watch segment dominated the United States Watch Market with a market share of around 42%, in 2020. Fitness watches have accounted to be the fastest-growing segment among all the product types due to rising health awareness among the consumers.
Based on the end-user segment, the United States Watch Market is segmented into male, female & unisex. Among these, the female segment has accounted for the majority of share in the United States Watch Market due to increasing female working populations and changing lifestyle.
Some of the major players operating in the United States Watch Market are Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., The Swatch Group (U.S.) Inc., Movado Group, Inc, Citizen Watch Company of America, Inc., Huawei Technologies Co. Ltd, Casio America Inc., Seiko Corporation of America.
To remain competitive in the market, companies are constantly launching new products, adopting different marketing strategies, and involving in other strategic alliances. Today, majority of the brands are at the forefront of innovation, ensuring that all their watches offer a distinctive blend of tradition, elegance, and performance.
Major brands such as Fossil, which purchased Misfit in 2015, a wearable technology company, aided Fossil in developing a scalable cloud and application platform. This has aided the company's ability to offer both traditional timepieces and trendy linked accessories.
In 2020, Apple launched the Apple Watch Series 6, which has features such as blood oxygen monitoring for general fitness and wellness, ECG, high and low heart rate notifications, and irregular heart rhythm notifications.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
United States Watch Market, By Product Type:
United States Watch Market, By End-User:
United States Watch Market, By Distribution Channel:
United States Watch Market, Market, By Region:
Company Profiles: Detailed analysis of the major companies operating in the United States Watch Market.
Fossil Group, Inc.
The Swatch Group (U.S.) Inc.
Movado Group, Inc
Citizen Watch Company of America, Inc.
Huawei Technologies Co. Ltd
Casio America Inc.
Seiko Corporation of America
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