Watch, Clock, Measuring Device Global Market Sees Growth Rate Of 29% Through 2022

The global watch, clock, measuring device market size is expected to grow from $88.83 billion in 2021 to $114.66 billion in 2022 at a compound annual growth rate (CAGR) of 29.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The watch, clock, measuring devices market is expected to reach $287.85 billion in 2026 at a CAGR of 25.9%.

What is the Global Watch, Clock, Measuring Device Market?

The watch, clock, measuring device market consists of sales of the watch, clock, measuring device, and related services for measuring time and physical quantity. Watch is a portable timepiece worn by individuals around the wrist, attached by a strap. A clock is a device used for measuring and indicating time, using pointers moving over a dial. A measuring device is an instrument used to measure various parameters in the physical used to measure various parameters.

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What drives the Global Watch, Clock, Measuring Device Market?

The rise in disposable incomes was a major driver of the watch, clock, measuring device market. The rise in disposable incomes was mainly driven by economic growth and middle-class population growth in developing countries such as China, India, and Brazil. According to the World Bank, the world’s middle-class population – defined as that earning between $10 and $100 per day – increased from approximately 1.5 to 2 billion. Moreover, China’s economy grew at 6.9% and India’s GDP grew at 7.1%. Increased earnings greatly increased disposable incomes in the emerging markets, contributing to the watch, clock, measuring device market’s growth.

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Global Watch, Clock, Measuring Device Market Segments
The global watch, clock, measuring device market is segmented:
By Type: Watches and Clocks, Measuring Devices
By Price Range: Low Range, Mid-Range, Luxury
By Distribution Channel: Offline Retail Stores, Online Retail Stores
By End-User Sex: Women, Men, Unisex
By Geography: The regions covered in the watch, clock, measuring device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Watch, Clock, Measuring Device Global Market Report 2022 provides market size and growth forecasts for the global watch, clock, measuring device market, global watch, clock, measuring device market share, watch, clock, measuring device market segments and geographies, watch, clock, measuring device market competitive landscape including leading competitors’ revenues, profiles and market shares. The watch, clock, measuring device market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Watch, Clock, Measuring Device Industry Players include Apple Inc., Fitbit Inc., Samsung Electronics Co. Ltd., Garmin ltd., Huawei Investment & Holding Co., Ltd., Lvmh Moet Hennessy Louis Vuitton SE, and Rolex SA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.