According to a new report, published by KBV research, The Global Sports Watches Market size is expected to reach $40.9 billion by 2028, rising at a market growth of 7.5% CAGR during the forecast period.
The Economic segment is showcasing a CAGR of 8.3% during (2022 - 2028). It is because economical watches are affordable for everyone and require fewer maintenance costs. Most economical watches provide more function than the other watches in the low-price segment. Some people believe that high-quality goods are simply inexpensive items with a name brand and a premium price.
The Specialty Stores segment acquired maximum revenue share in the Global Sports Watches Market by Distribution Channel in 2021 thereby, achieving a market value of $13.8 billion by 2028. A specialty store is a business that sells a wide variety of brands, designs, or products from a small range of product categories. Specialty stores include furniture shops, flower shops, sporting goods shops, and bookshops.
The Women segment has shown the growth rate of 9.1% during (2022 - 2028). Women's sports watches are mostly used for exercise and training. Water-resistant, GPS-enabled, full-featured smartwatches, etc., which offer several features including exercise monitoring (calories burnt), heart rate monitor (MVP), and sleep tracker, are the most popular types of sports watches on the market today with a specific focus on female customers (Alert).
The Mechanical segment is generating highest revenue share the Global Sports Watches Market by Product Type in 2021 thereby, achieving a market value of $25.6 billion by 2028. It is because these watches have a mainspring, gears, and other parts that work together to correctly keep track of time by transforming the mainspring's power into rotary energy with the aid of gears.
The Europe market dominated the Global Sports Watches Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15.4 billion by 2028.The North America market is exhibiting a CAGR of 6.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 8.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/sports-watches-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Google LLC (Fitbit, Inc.), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Garmin Ltd., Fossil Group, Inc., COROS Wearables, Inc., Polar Electro Oy, Suunto Oy (Amer Sports Corporation), and Rolex SA
By Price Point
By Distribution Channel
By End User
By Product Type
By Geography
Companies Profiled
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