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Waterproof Watch Market Report
Waterproof Watch Market Trends, Dynamics & Market Insights
The Waterproof Watch market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around xx% during the forecast period.
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A waterproof watch may be a wristwatch whose movement is enclosed in an exceedingly case within which the openings for the winding and canopy are sealed with gaskets and ready to withstand pressures adequate to several fathoms of submersion. supported type, the waterproof watch will be categorized as ordinary water-proof and professional waterproof.
Key players operating in the Waterproof Watch market are-
The growth of the waterproof watch market is primarily driven by the growing demand for waterproof watches by consumers across geographies. Increasing spending on advanced watches in developing countries coupled with rising per capita disposable income is likely to drive the growth of the global waterproof watch market at a significant rate during the review period. In addition to this, rising demand for watches with innovative features is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the waterproof watch market has been bifurcated into women and men. Under these, the men segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The women segment is projected to register healthy CAGR in the coming years on account of increasing spending on watches by women.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the increasing demand for waterproof watches particularly in developing countries such as India and China. The market growth in the North American region is expected to be driven by the presence of key market players such as Armitron (US) and Fossil Group, Inc. (US).
The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the waterproof watch market negatively as the imposition of complete lockdown and restrictions on trade affected the supply of the product for a short period.
Here is the list of the group of customers that the waterproof watch market hopes to have the greatest opportunity to convert-
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Armitron (US), Casio (Japan), Chopard & Cie S.A. (Switzerland), Citizen Watch Co., Ltd. (Japan), Fossil Group, Inc. (US), Michael Kors (US), MICHELE (US), Movado (Switzerland), Nixon (US) and Seiko Holdings Corporation (Japan) are among the key players in the waterproof watch market.
The men segment is expected to witness significant growth rate in the waterproof watch market in the coming years.
Asia-pacific is expected to grow at a significant CAGR in the waterproof watch market during the next five years.
The growing demand for waterproof watches by consumers across geographies, increasing spending on advanced watches in developing countries are the factors driving the growth of waterproof watch market.
Waterproof watch distributors, Waterproof watch suppliers, Waterproof watch manufacturers, Logistics organizations, Government bodies are the target audience in the waterproof watch market.
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