GCC Wrist Watch Market Overview:

According to MarkNtel Advisors study the GCC Wrist Watch Market is projected to grow at a CAGR of around 5.14% during the forecast period, i.e., 2023-28. Most of the market expansion would be propelled by the ever-increasing demand for fitness bands & smartwatches, especially among the young generation, due to growing health awareness among consumers, especially after the advent of the COVID-19 pandemic. Smartwatches are in high demand across gulf countries and are undergoing remarkable innovations & updates. The growing interest of millennials in aesthetically appealing & technologically advanced smartwatches with multiple features is a crucial aspect expected to boost the market through 2028.

Key Findings of the Study: GCC Wrist Watch market

Key Driver: 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.

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Scope of the GCC Wrist Watch Market Report Segmentation

-By Type

  • Luxury (Above USD1,500)
  • Mid-Luxury (USD301-USD1,500)
  • Economy (USD101-USD300)
  • Low (Up to USD100)

-By Country of Origin

  • Japanese
  • Swiss
  • Others

-By Category

  • Analog
  • Digital
  • Analog & Digital
  • Smart

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Geographical analysis:

-By Country

  • 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.

Current Landscape of GCC Wrist Watch Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the GCC Wrist Watch market. The research report profiles major players, including

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  • 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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