By 2028, GCC Wrist Watch Market Estimated to Maintain 5.14% CAGR | Rolex, Gucci & Invicta Watch Group

This comprehensive GCC Wrist Watch Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

“According to recent market analysis report, the GCC Wrist Watch Market is expected to grow at a CAGR of 5.14% during the forecast period of 2023 to 2028.”

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Driving Force Behind the Growth of the GCC Wrist Watch Market through 2028

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.

Market Segment Highlights:

By Country of Origin

 - Japanese

 - Swiss

 - Others

By Category

 - Analog

 - Digital

 - Analog & Digital

 - Smart

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. The major factor attributed to the demand for the economy type of watches in the region is the presence of a significant number of expatriates in the countries such as the UAE, Saudi Arabia, Kuwait, etc.

GCC Wrist Watch Market Geographical Outlook:

• 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. Dubai in the UAE is the most mature market for wristwatches, with the prominent presence of collectors of the best brands and the rising consumer interest in classy & monochrome timepieces. The notable foothold of international players, the launch of innovative digital & smartwatches, the ever-increased demand for luxury watches, and the growing influx of tourists & migrants are the prime aspects that make the UAE Wrist Watch market the largest across the GCC region.

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GCC Wrist Watch Market Competition Analysis:

Some of the top GCC Wrist Watch companies operating in the market are 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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