Global Watches and Jewelry Market was valued at USD 20 Billion in 2022 and is projected to reach USD 35 Billion by 2030, growing at a CAGR of 7% from 2024 to 2030.
The Watches and Jewelry Market has experienced a significant transformation in recent years, driven by evolving consumer preferences, technological advancements, and a growing demand for personalized luxury items. From classic wristwatches to intricate diamond-studded pieces, the market has become a blend of tradition and innovation. In 2024, the global market was valued at over $300 billion and is expected to continue growing, fueled by emerging trends like wearable technology and the increasing popularity of sustainable, eco-friendly materials.
Technological advancements, particularly in smartwatch features and smart jewelry, have contributed to the market's evolution. Smartwatches have gone beyond telling time, offering fitness tracking, health monitoring, and customizable interfaces, attracting younger generations to the traditionally conservative sector. Luxury brands, such as Rolex and Omega, have incorporated digital features into their traditional designs to appeal to tech-savvy consumers without compromising on the craftsmanship and prestige that they are known for.
The jewelry sector, too, is undergoing significant changes. Fine jewelry made with ethically sourced materials, such as lab-grown diamonds and recycled gold, is on the rise, as more consumers seek sustainable alternatives to traditional luxury goods. Additionally, personalized jewelry is becoming increasingly popular, with consumers opting for custom designs to commemorate special moments and milestones. This demand for individuality is fueling the growth of online jewelry platforms, which provide easy access to bespoke services.
Regional trends also play a crucial role in shaping the Watches and Jewelry Market. In Asia, particularly China and India, the demand for luxury watches and jewelry is surging, driven by rising disposable incomes and a growing middle class. In the United States and Europe, vintage and heritage pieces continue to capture the attention of collectors, while fashion-forward brands are taking over the global stage with unique designs and creative marketing strategies.
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De Beers
PJSC ALROSA
Cartier
Jacob&Co.
Burberry Group
LVMH
KERING
Richemont Group
Signet Jewelers
Harry Winston
Inc.
Hstern
Pandora Inc
Graff
MIKIMOTO
Swatch Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Watches and Jewelry Market
E-Commerce
Offline
Based on Types the Market is categorized into Below types that held the largest Watches and Jewelry market share In 2023.
Watches
Jewelry
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Watches and Jewelry Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Watches and Jewelry Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Watches and Jewelry Market, By Type
6. Global Watches and Jewelry Market, By Application
7. Global Watches and Jewelry Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Watches and Jewelry Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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