Luxury Watch Market Is Likely To Up Demand At A USD 62.25 Billion By 2030
San Francisco, 24 Jan 2023: The Report Luxury Watch Market Size, Share & Trends Analysis Report By Product (Mechanical, Electronic), By Distribution Channel (Offline, Online), By Region (Asia Pacific, Europe, North America), And Segment Forecasts, 2022 - 2030 The global luxury watch market size is expected to reach USD 62.25 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 5.2% over the forecast period. The major factors that drive the growth are increasing awareness about brands that have influenced westernization and the inherent need for exclusivity. The rapidly increased demand for luxury watches from women also drives the industry. Rising penetration of the e-commerce sector will create ample opportunity for industry growth over the forecast period. The high cost of luxury watches, as well as the rapid rise in the price of the production process, hampers the growth. The COVID-19 pandemic had a negative impact on the market. Th