United Arab Emirates Traditional And Smart Watch Market Forecast 2024-2032
The United Arab Emirates traditional and smart watch market was valued at $2626.47 million in 2023 and is expected to reach $4462.92 million by 2032, growing at a CAGR of 5.69% during the forecast period, 2024 to 2032.
In terms of volume, the United Arab Emirates traditional and smart watch market was valued at 4.95 million units in 2023 and is expected to reach 7.94 million units by 2032, growing at a CAGR of 5.37% during the forecast period 2024 to 2032.
MARKET INSIGHTS
The United Arab Emirates (UAE) offers a diverse market for both traditional and smart watches. Recent years have seen a growing interest in smart wearables, fueled by the country’s tech-savvy population and affluent consumer base. Furthermore, traditional watches maintain a significant presence, appealing to individuals who value luxury and craftsmanship. The UAE’s high-income society supports the demand for prestigious brands, especially those of Swiss origin, which are prominently showcased in luxury boutiques and upscale malls throughout the country.
A key driver in the UAE’s watch market is the high disposable income and preference for luxury goods among consumers. The UAE, especially Dubai, has become an important market for luxury watches, recognized by the Federation of the Swiss Watch Industry as one of the leading destinations globally. Industry reports indicate that over $2.2 billion worth of Swiss watch products were exported to the Middle East, with nearly half directed to the UAE. This reflects a strong demand for high-quality, premium-priced timepieces among the country’s consumers.
However, the market faces certain challenges, including the impact of economic fluctuations and global events. The onset of the pandemic in 2020 led to a significant decline in sales, with a reported 50% drop. Despite this, the market rebounded in 2021, surpassing pre-pandemic sales figures from 2019. This resilience demonstrates the market’s ability to recover, although the volume of watches exported has decreased. Additionally, a notable trend is the growing integration of smart technology in high-end watches. Consumers in the UAE are increasingly interested in smart watches that offer advanced features while maintaining a luxurious appearance, indicating a shift towards modern technological advancements in the market.
SEGMENTATION ANALYSIS
The report on the United Arab Emirates traditional and smart watch market includes the segmentation analysis based on product type and distribution channel.
Market by Product Type:
• Traditional Watch
Product Type
Mechanical Watch
Quartz Analogue Watch
Quartz Digital Watch
Price Range
Low-Range
Mid-Range
Luxury
• Smart Watch
Smart Wearable
Analogue Activity Watch
Digital Activity Watch
Market by Distribution Channel:
• Offline Distribution Channel
Hypermarket
Jewellery and Watch Specialist
Appliance and Electronic Specialist
Other Offline Distribution Channels
• Online Distribution Channel
Inkwood Research’s report on the United Arab Emirates traditional and smart watch market provides in-depth insights as well as the market’s segmentation analysis. The detailed evaluation of the market includes Competitive Landscape, Key Buying Criteria, Market Maturity Analysis, and Value Chain Analysis.
COMPETITVE ANALYSIS
Some of the prominent players in the United Arab Emirates traditional and smart watch market are Samsung, Google LLC, Swatch Group Ltd, etc.
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- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Methodology
- 1.3. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Forecast
- 2.2. Country Snapshot
- 2.3. Country Analysis
- 2.4. Scope Of Study
- 2.5. Major Market Findings
- 2.5.1. Hybrid Watches That Mix Traditional And Smart Functions Are Becoming More Popular
- 2.5.2. Growth Of Subscription-based Models For Smart Watch Services And Apps
- 2.5.3. Expanding Luxury Watch Retail Market
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Growing Health And Fitness Consciousness
- 3.1.2. Expansion Of Customization And Personalization Options
- 3.1.3. Technological Advancements In Smart Watches
- 3.2. Key Restraints
- 3.2.1. Compatibility Issues With Different Devices And Platforms
- 3.2.2. Limited Battery Life Of Smart Watches
- 3.2.3. Privacy And Security Concerns Over Data Collection
- 4. Key Analytics
- 4.1. Key Market Trends
- 4.1.1. Incorporation Of Voice Assistants And Ai
- 4.1.2. Development Of Sustainable And Eco-friendly Watch Materials
- 4.1.3. Adoption Of Contactless Payment Systems
- 4.2. Porter’s Five Forces Analysis
- 4.2.1. Buyers Power
- 4.2.2. Suppliers Power
- 4.2.3. Substitution
- 4.2.4. New Entrants
- 4.2.5. Industry Rivalry
- 4.3. Pest Analysis
- 4.4. Growth Prospect Mapping
- 4.5. Market Maturity Analysis
- 4.6. Market Concentration Analysis
- 4.7. Value Chain Analysis
- 4.7.1. Product Design And Development
- 4.7.2. Manufacturing And Supply Chain Management
- 4.7.3. Marketing And Distribution
- 4.7.4. After-sales Services And Customer Support
- 4.8. Key Buying Criteria
- 4.8.1. Design And Aesthetics
- 4.8.2. Functionality And Features
- 4.8.3. Brand Reputation And Heritage
- 4.8.4. Price And Value For Money
- 5. Market By Product Type (In Terms Of Revenue: $ Million & In Terms Of Volume: Million Units)
- 5.1. Traditional Watch
- 5.1.1. By Product Type
- 5.1.1.1. Mechanical Watch
- 5.1.1.2. Quartz Analogue Watch
- 5.1.1.3. Quartz Digital Watch
- 5.1.2. By Price Range
- 5.1.2.1. Low-range
- 5.1.2.2. Mid-range
- 5.1.2.3. Luxury
- 5.2. Smart Watch
- 5.2.1. Smart Wearable
- 5.2.2. Analogue Activity Watch
- 5.2.3. Digital Activity Watch
- 6. Market By Distribution Channel (In Terms Of Revenue: $ Million & In Terms Of Volume: Million Units)
- 6.1. Offline Distribution Channel
- 6.1.1. Hypermarket
- 6.1.2. Jewellery And Watch Specialist
- 6.1.3. Appliance And Electronic Specialist
- 6.1.4. Other Offline Distribution Channels
- 6.2. Online Distribution Channel
- 7. Competitive Landscape
- 7.1. Key Strategic Developments
- 7.1.1. Mergers & Acquisitions
- 7.1.2. Product Launches & Developments
- 7.1.3. Partnerships & Agreements
- 7.1.4. Business Expansions & Divestitures
- 7.2. Market Share Analysis
- 7.2.1. By Traditional Watch
- 7.2.2. By Smart Watch
- 7.3. Brand Share Analysis
- 7.3.1. By Traditional Watch
- 7.3.2. By Smart Watch
- 7.4. Company Profiles
- 7.4.1. Apple Inc
- 7.4.1.1. Company Overview
- 7.4.1.2. Product Portfolio
- 7.4.1.3. Strengths & Challenges
- 7.4.2. Google Llc
- 7.4.2.1. Company Overview
- 7.4.2.2. Product Portfolio
- 7.4.2.3. Strengths & Challenges
- 7.4.3. Samsung
- 7.4.3.1. Company Overview
- 7.4.3.2. Product Portfolio
- 7.4.3.3. Strengths & Challenges
- 7.4.4. Casio
- 7.4.4.1. Company Overview
- 7.4.4.2. Product Portfolio
- 7.4.4.3. Strengths & Challenges
- 7.4.5. Garmin
- 7.4.5.1. Company Overview
- 7.4.5.2. Product Portfolio
- 7.4.5.3. Strengths & Challenges
- 7.4.6. Rolex Sa
- 7.4.6.1. Company Overview
- 7.4.6.2. Product Portfolio
- 7.4.6.3. Strengths & Challenges
- 7.4.7. Swatch Group Ltd
- 7.4.7.1. Company Overview
- 7.4.7.2. Product Portfolio
- 7.4.7.3. Strengths & Challenges
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