PROSPECTS AND OPPORTUNITIES
Innovation and ongoing product development are expected to boost growth in connected watches
The connected watch market is set to remain a key driver in the watch industry over the forecast period, buoyed by the growth of affordable products with basic functions and the continued upgrading and replacement cycle among consumers with established usage habits. In particular, Taiwanese consumers are increasingly transitioning from smart bands and bracelets to connected watches, drawn by their advanced health and wellness monitoring features, including biometric sensors and comprehensive health tracking capabilities.
Traditional watches will continue to benefit from an alignment with fashion, status and craftsmanship
While the wearable technology trend is expected to drive continued growth in connected watches in Taiwan, traditional watches are anticipated to maintain their appeal among fashion-conscious consumers and those who value the craftsmanship of mechanical timepieces, especially for their ability to retain value over time.
The second-hand watch market is poised for substantial growth as consumer look to avoid long waiting lists
The growth potential of the second-hand watch market is expected to surpass that of new watch sales over the forecast period, marking a new chapter in the high-end traditional watch industry. Some industry experts attribute this shift to the anticipated saturation of demand for high-end watches, given that many top-tier brands produce limited quantities each year.
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Overview:
Understand the latest market trends and future growth opportunities for the Traditional and Connected Watches industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Traditional and Connected Watches industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Traditional and Connected Watches in Taiwan report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Traditional and Connected Watches in Taiwan?
- Which are the leading brands in Traditional and Connected Watches in Taiwan?
- How significant is tourism in determining sales and demand for Traditional and Connected Watches in Taiwan?
- How are COVID-19 and global recession impacting demand for Traditional and Connected Watches in Taiwan?
- In the wake of COVID-19, how soon can Traditional and Connected Watches be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Traditional and Connected Watches in Taiwan - Category analysis
KEY DATA FINDINGS
Connected watches drive growth through targeted features and ongoing innovation
New launches align with the Y2K trend, offering playful and colourful designs
Brands launch sustainable ranges to align with rising consumer demands
Innovation and ongoing product development are expected to boost growth in connected watches
Traditional watches will continue to benefit from an alignment with fashion, status and craftsmanship
The second-hand watch market is poised for substantial growth as consumer look to avoid long waiting lists
Personal Accessories in Taiwan - Industry Overview
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
The following categories and subcategories are included:
Traditional and Connected Watches
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Traditional and Connected Watches research and analysis database.
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