GCC Wrist Watch Market Demand, Drivers and Opportunities 2023-2028

Markntel Advisors’ report, GCC Wrist Watch Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the GCC Wrist Watch presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Table of Contents

GCC Wrist Watch Market Research Report & Market Summary:

The GCC Wrist Watch Market is projected to grow at a CAGR of around 5.14% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the ever-increasing demand for fitness bands & smartwatches, especially among the young generation, due to growing health awareness among consumers, especially after the advent of the COVID-19 pandemic. Smartwatches are in high demand across gulf countries and are undergoing remarkable innovations & updates. The growing interest of millennials in aesthetically appealing & technologically advanced smartwatches with multiple features is a crucial aspect expected to boost the market through 2028.

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GCC Wrist Watch Market Dynamics:

Key Driver-

Rising inclination of the Female Customers Towards Watches with Diamonds and Blin

The GCC region has always been known for its affluent lifestyle, where the customers mostly prefer to wear luxurious accessories like royal wrist watches, etc. Due to this, the market of wrist watch has been constantly growing in the countries such as the UAE, Saudi Arabia, Oman, etc. The female customers have been looking for a luxurious timepiece, which has led to improved sales of luxury watches subsequently improving the demand for wrist watches in the region in the historical years. Furthermore, the sales of female wrist watches made with gold, diamond, etc., are expected to increase in the forecast years, due to the growing inclination of female customers to enhance their wardrobe with these premium accessories.

GCC Wrist Watch Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Type

Luxury (Above USD1,500)
Mid-Luxury (USD301-USD1,500)
Economy (USD101-USD300)
Low (Up to USD100)

Of them all, the economy type of watches grabbed a sizeable share in the GCC Wrist Watch Market over the past period.

By Country of Origin

Japanese
Swiss
Others

By Category

Analog
Digital
Analog & Digital
Smart

With increasing technological advancements in the wrist watches such as the involvement of display technology, integrated feature of calling & mobile payments, fitness features, etc., would likely gain a noticeable number of smart wrist watch users in the forthcoming years.

By Country

Saudi Arabia
The UAE
Qatar
Kuwait
Bahrain
Oman.

Of all GCC countries, the UAE dominated the Wrist Watch Market in previous years, and the same trend is likely during 2023-28. In 2019, the UAE imported USD938 million worth of Swiss watches, cited the Federation of the Swiss Watch Industry.

As indicated in the latest market research report published by Markntel Advisors, “GCC Wrist Watch Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the GCC Wrist Watch industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/gcc-wrist-watch-market.html

Top Companies Operating in the GCC Wrist Watch Market:

Audemars Piguet
Patek Philippe
Rolex
Seiko Watch Corporation
Piaget
TAG Heuer
Breguet
CASIO COMPUTER CO., LTD.
Invicta Watch Group.
Gucci
CARTIER
Others (Armani, etc.).

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Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Frequently Asked Questions (FAQs)-

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Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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