DUBLIN – (BUSINESS WIRE) – October 8, 2021–
The “watch market in the United States, by product type (digital watch, analog watch and fitness watch), by end user (man, woman, unisex), by distribution channel (offline and online), by region, competition forecast and opportunity, 2027 “has been added to ResearchAndMarkets.com’s offering.
The watch market in the United States was worth $ 13.62 billion in 2020 and is expected to exceed $ 17.80 billion by 2026, due to favorable economic conditions, increased female workforce, the continuing evolution of fashion trends and the changing tastes and preferences of consumers.
Wearing a watch is a form of self-expression that reflects style and personality. Today, most of the people who wear watches wear them as an accessory, that is, a piece of jewelry that enhances style and appearance. In addition, the increase in disposable income and the affordability of many brands make them a popular fashion choice.
This is the other key factor, which is expected to boost US watch sales during the forecast period. On top of that, a beautiful watch dramatically improves the appearance and suits the clothes that individuals wear, and this is perhaps the most common reason why individuals prefer to wear a watch.
However, the changing fashion industry increasingly focused on health and fitness across the country are the major driving factors for the watch market in the United States during the forecast period. The demand for watches is increasing at a steady rate due to the growing consumer awareness of healthy and fit lifestyles. Most smartwatches include attributes that have been useful for sports enthusiasts.
The US watch market is divided into the following segments such as by product type, end user, distribution channel, region and company. In terms of product type, the US watch market is divided into digital watch, analog watch, and fitness watch.
Of these, the digital watch segment dominated the US watch market with a market share of around 42%, in 2020. Fitness watches were the fastest growing segment among all of them. types of products due to increasing consumer health awareness.
Based on the end user segment, the US watch market is segmented into men, women and unisex. Among these, the female segment accounted for the majority of the watch market share in the United States due to the increase in female labor force and changing lifestyle.
Some of the major players operating in the US watch market are Apple Inc., Fitbit, Inc., Fossil Group, Inc., Garmin Ltd., The Swatch Group (US) Inc., Movado Group, Inc, Citizen Watch Company of America, Inc., Huawei Technologies Co. Ltd, Casio America Inc., Seiko Corporation of America.
To stay competitive in the market, companies are constantly launching new products, adopting different marketing strategies and getting involved in other strategic alliances. Today, the majority of brands are at the forefront of innovation, ensuring that all of their watches offer a distinctive blend of tradition, elegance and performance.
Big brands such as Fossil, which bought Misfit in 2015, a wearable technology company, have helped Fossil develop a scalable cloud and application platform. This has helped the company to offer both traditional watches and fashion related accessories.
In 2020, Apple released the Apple Watch Series 6, which offers features such as blood oxygen monitoring for general fitness and well-being, ECG, elevated heart rate notifications, and low and irregular heartbeat notifications.
Scope of the report:
Years considered for this report:
- Historical years: 2016-2019
- Baseline year: 2020
- Estimated year: 2021E
- Forecast period: 2022F-2026F
Watch Market in United States, by Product Type:
- Digital watch
- Analogue watch
- Fitness watch
Watch Market in USA, By End User:
Watch market in the United States, by distribution channel:
United States Watch Market, Market, By Region:
- Where is
Company Profiles: Detailed analysis of the major companies operating in the United States Watch market.
- Apple Inc.
- Fitbit Inc.
- Fossil Group, Inc.
- Garmin Ltd.
- The Swatch Group (United States) Inc.
- Movado Group, Inc
- Citizen Watch Company of America, Inc.
- Huawei Technologies Co. Ltd
- Casio America Inc.
- Seiko Corporation of America
For more information on this report, visit https://www.researchandmarkets.com/r/w2p53
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211008005316/en/
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KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ELECTRONIC TECHNOLOGY RETAIL FASHION RETAIL SPECIALTY
SOURCE: Research and markets
Copyright Business Wire 2021.
PUB: 08/10/2021 10:10 a.m. / DISC: 08/10/2021 10:11 a.m.