Description
A watch made checked and encased in Switzerland is commonly called Swiss made. The watches are built with utmost care and detailing. This adds to an emotional traction for the brand lovers and aesthetics loving people. Each of the switch watches has label “Swiss watch” on it which is no other reason for people to look for it. From time earliest it is considered to be symbol of craftsmanship, precision and emotional stamp. The Swiss watch market, keeping sensitivity in mind, maintains its quality and takes the watches to regular process of experimentation.
The report meticulously mentions the intricate demands of the people for the watch, which in turn help the market to reach colossal heights. People’s craving for sophistication and aesthetic beauty have never gone out of style. This impulses them to add theses watches in their collection, as an epitome of adept craftsmanship. Moreover, rise in disposable income is expected to trigger the demand for such expensive brands. The young generation is taking these watches as trendy and are increasing the intake of the watch. Many do collect these watches as souvenir, which can also assist in expansion plans for Swiss watch market.
Market Players
The prominent market players are Apple, Inc., Audemars Piguet, Breitling SA, Casio Computer Co., Ltd., Chelsea Clock Company, and Chopard.
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Segmentation
The report largely depends upon the analysis of the segmentation of the Swiss watch market based on types and end-users. This analysis would provide better insights on factors that can assist in better decision-making process.
Based on the type, the segmentation of the Swiss watch market includes the primitive or mechanical watch and the electronic watch. In the mechanical watch there is spring needed to wound up starting the watch.
Based on the end-user, the segmentation of the Swiss watch market includes primarily industrial people, tourists, young generation, and aged people. The ageing population with high individual net worth generally prefers to keep the mechanical watches in collection.
Regional Market
The regional Swiss Watch market can be segmented on a geographical scale into North America, South America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). This region-specific analysis targets various demographic changes to understand the flow of the market.
In Europe, the regions considered to be the prominent end-user is Western Europe including Germany, France, Italy, and Spain. North America has a substantial market due to high investment capacity. People there prefer trendy objects, which would make them own Swiss watches. In Asia Pacific the primary countries are China, Japan, India, Republic of Korea, and Australia. Rise in per capita income and growing exposure to such products due to e-commerce sites and retail stores are expected to provide traction to the regional market. In the MEA region, the Middle Eastern countries like Saudi Arabia, Dubai, Qatar, and the UAE are expected to show considerable hike in the intake of such products. However, Africa may show sluggish growth due to the presence of poor economies.
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