Middle East and Africa wrist watch market is expected to witness growth over the coming years due to the growing penetration rates of urbanization, demand for aesthetically appealing advanced products with the ability to better serve customers’ requirements, like time schedules, multiple features in one device. Moreover, the enormous millennial population in the region has been adopting smart watches due to increased spending of their regular work hours tracking and luxury standards. In Middle East and Africa, especially in GCC countries, 70% of consumers claim to have increased their spending on luxury watches. Furthermore, it is observed a major trend in Middle East market is the growing knowledgeable and inquisitive consumer population. Moreover, the adoption level of wrist wearable technology is increasing in this region, However, this is expected to increase as the technology becomes more widespread and affordable. Also, rising economic conditions coupled with the high purchasing power of the population in the region have resulted in many ventures and openings of new brands in this region.
According to 6Wresearch, Middle East and Africa (MEA) Wrist Watches Market size has substantial growth prospects during 2020-26. The outbreak of the COVID-19 all over the globe has affected several industries around the world. The shutdowns of production plants have affected the electronic industry of Middle East and Africa region. However, sales of wearable have improved in the year when devices such as Apple Watch are updated. Also, Apple launched its Watch series 5, which is Apple’s first smart watch which is power-efficient and with low-temperature polycrystalline silicon reported to great sales. Also, UAE-based Chalhoub Group partnered with Fartech to create a leading platform for luxury watches, in Middle East. The brand ‘HONOR’ broadcasted the launch of a brand-new smart watch, the HONOR MagicWatch 2 in Saudi Arabia coupled with the United Arab Emirates. Also, issued with the HUAWEI TruRelax, HUAWEI TruSleep2.0, and HUAWEI TruSeen 3.5, the HONOR MagicWatch 2 has taken the market.
Based on the product type, Middle East and Africa Wrist Watches Market is categorized into Sports, Luxury, Water-resistant, Diamond, Quartz, Mechanical and Smart watch. Further, based on application, the market is bifurcated into daily use, collection and others. Middle East & Africa watch market is quite competitive. Several international brands keep launching new products with progressive technologies to attain a foothold in the region. Also, Wrist Watch industry in this region is expanding immensely by extending the reach of their brand distribution networks and opening new stores. Further, companies are focusing on the customer's preferences that are increasingly looking out for sleek designs, trendy interfaces, and different types and colors of straps. Also, an increase in consumer spending expected to augment the market’s growth.
Middle East and Africa Wrist Watches Market report thoroughly covers the market by product types, application and countries including the UAE, Saudi Arabia, Qatar, Bahrain, South Africa, Kenya, Nigeria and the rest of Middle East and Africa. Middle East and Africa Wrist Watches market outlook report provides an unbiased and detailed analysis of the on-going Middle East and Africa market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Key Highlights
- Middle East and Africa Wrist Watches Market Outlook
- Middle East and Africa Wrist Watches Market Overview
- Middle East and Africa Wrist Watches Market Forecast
- Historical Data for the period 2016-2019 and Market Forecast of Middle East and Africa Wrist Watches Market Revenues until 2026
- Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Product Type
- Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Application
- Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Countries
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for UAE Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for Saudi Arabia Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for Qatar Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for Bahrain Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for Kenya Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for Nigeria Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for South Africa Wrist Watches Market
- Historical Data for the period 2016-2019 and Market Forecast until 2026 for rest of Middle East and Africa Wrist Watches Market
- Market Drivers and Restraints
- Middle East and Africa Wrist Watches Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Middle East and Africa Wrist Watches Market Share, By Players
- Competitive Benchmarking
Markets Covered
The report provides a detailed analysis of the following market segments:
- By Application:
- Daily Use
- Collection
- Others
- By Product Type:
- Diamond Watches
- Sports Watches
- Smartwatch
- Luxury Watches
- Mechanical Watches
- Quartz Watches
- Water Resistant Watches
- Others
- By Countries:
- UAE
- Saudi Arabia
- Qatar
- Bahrain
- South Africa
- Kenya
- Nigeria
- Rest of Middle East and Africa
