Swiss Wrist Watch Market - Industry Analysis & Outlook 2016-2020 - MarketReportsOnline
The report “Swiss Watch Market- Industry Analysis & Outlook (2016-2020)” provides an overview of the entire Swiss watch market through in-depth analysis of its segments along with their market value and forecast. Recent developments in certain main markets like Asia, Europe and the United States have been analyzed in the report along with certain trends, growth drivers as well as issues being faced by the market.
A Swiss watch, is a watch that is Swiss made and has a Swiss movement. The ‘Swiss made’ label in watches and movements implies that whole or a major portion of the watch is manufactured, encased and checked for quality in Switzerland. Over time Swiss watches have come to be associated with status and grandeur, gaining prominence as the ultimate stamp for quality, precision and craftsmanship. They can broadly be classified into two types, Mechanical and Electronic or Quartz. A mechanical Swiss watch is powered by manual winding by hand whereas an electronic or quartz watch uses a battery powered by the quartz crystal. Mechanical Swiss watches can further be classified as manual, automatic or chronograph, while electronic watches can be analog or digital.
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The Swiss watch market can be segmented in to the market for mechanical Swiss watches and the market for electronic Swiss watches along with the market for Swiss movements, a significant amount of which are exported to be assembled in overseas locations. Growth in the Swiss watch market witnessed persistent incline over the years, driven by increase in high net-worth individuals (HNWI) wealth, growing youth population, rising ageing population, increase in the number of millionaires and increasing tourist arrivals across the globe. Also, the economic boom in China and the resulting rise in luxury consumption has been one of the most important factors for growth in the Swiss watch market. However due to certain challenges like a strong Swiss Franc, weak foreign demand, weak domestic demand, shortage of qualified labor and competition from smartwatches the market for Swiss watches has witnessed a slump in recent years.
Key Topics Covered in Swiss Watch Market Report:
1. Market Overview
2. Swiss Watch Market
3. Swiss Watch Market Segments
4. Swiss Watch Market by Regions
5. Market Dynamics
6. Competitive Landscape
7. Company Profiles
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