GCC Luxury Watch Market Expected to Rise at a CAGR of 17.6% during 2024-2032

Luxury Watch Market - GCC

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 17.6% (2024-2032)

The GCC luxury watch market is expanding due to rising disposable income, a growing affluent population, and increasing demand for premium timepieces. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 17.6% from 2024 to 2032.

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GCC Luxury Watch Market Trends and Drivers:

• High disposable income and a strong culture of luxury and status symbols drive market growth.

• Consumers in Saudi Arabia and the UAE have a deep affinity for luxury watches.

• Growing population of wealthy individuals and expatriates seeking status through luxury timepieces.

• Increasing trend of gifting luxury watches for special occasions boosts demand.

• Rising interest in exclusive, limited-edition, and custom-designed watches reflects the preference for uniqueness.

• Notable trend towards smart luxury watches combining traditional craftsmanship with advanced technology.

• Consumers favor timepieces offering both luxury and functionality, including health tracking and connectivity.

• Growing focus on sustainable and ethical sourcing; brands with transparency gain favor.

• Thriving tourism industry and popular luxury shopping destinations contribute to GCC luxury watch market growth.

GCC Luxury Watch Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Analog Watch

• Digital Watch 

End User Insights:

• Women

• Men

• Unisex

Distribution Channel Insights:

• Online Stores

• Offline Stores

Country Insights:

• Saudi Arabia

• UAE

• Qatar

• Oman

• Kuwait

• Bahrain

Request for customization: https://www.imarcgroup.com/request?type=report&id=9878&flag=C

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• COVID-19 Impact on the Market

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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