Outdoor Watch Market Size, Share, Growth, and Industry Growth by Type (Quartz watches, Mechanical watches, and Digital watch) By Application (Amateur outdoor enthusiasts, Professional outdoor enthusiasts, and Pilot watches) Regional Forecast From 2023 To 2030

Updated On: 08 April 2024

OUTDOOR WATCH MARKET REPORT OVERVIEW 

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The global outdoor watch market size was USD 36.039 billion in 2021 and the market is projected to touch USD 49.884 billion by 2027, with a growing compound annual growth rate (CAGR)of 5.57% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with outdoor watch experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

An outdoor watch is a wristwatch. It is worn in several sports and features more than one to meet the requirements of professional sports. The watch is not just a simple watch; it is more like hi-tech equipment.

The huge need to enjoy outdoor fun and increased awareness about fitness among the growing population is estimated to drive market growth. The watch offers to track heart rate and even measure changes in the atmosphere is predicted to drive market progress. The rapid development of smartwatches and increased spending capacity. A rise in spending capacity and a huge need for the watch among consumers is predicted to fuel market progress. Huge investment by market players and a high need for the watch among the millennial population is anticipated to accelerate market growth in the forecasted years. Increased R&D activities and several features of the watch, such as shockproof, waterproof, anti-shock, and anti-friction; in addition, it can measure blood pressure, heart rate, height, and direction. Moreover, it doubtless has additional value-added functions such as, computer operation, Tide Graph Display, GPS, and other emerging capabilities. These functions of the watch are anticipated to accelerate market growth. However, the high cost of the watch is project to limit market growth in the coming years.

COVID-19 Impact: Lockdown Restrictions and Social Distance Protocols to Harm Market Growth

Lockdown restriction and closure of outdoor places to harm market growth. Lower demand for watches among consumers and shutdown of manufacturing units to restrict market growth. Further, a halt in production activities to minimize market growth.

LATEST TRENDS

"Increased Awareness of Fitness to Surge Market Growth"

An increasing awareness about fitness in the growing population and an increased need to enjoy outdoor activities such as trekking, jogging, running, camping, and other outdoor fun is estimated to drive market growth. The current popular outdoor sport watches are made of excellent titanium, stainless steel, aluminum, rubber, carbon fiber, or ceramic alloys. The watches add a different personality to the person. The watches enhance the look and add attractive personality is anticipated to drive market growth in the upcoming years. The watch fulfills more than one function to meet the requirements of professional sports, which is anticipated to drive market growth.

OUTDOOR WATCH MARKET SEGMENTATION 

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• By Type

Based on type, the market is divided into quartz watches, mechanical watches, and digital watch.

Quartz watches are expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into amateur outdoor enthusiasts, professional outdoor enthusiasts, and pilot watches.

Amateur outdoor enthusiasts are expected to be the top part of application segmentation.

DRIVING FACTORS

"Multiple Functions of the Watch to Boost Product Adoption"

The watches have several functions such as such as shockproof, waterproof, anti-shock and anti-friction; in addition, they can measure blood pressure, heart rate, height, and direction. Moreover, it doubtless has additional value-added functions such as computer operation, Tide Graph Display, GPS and other emerging capabilities. These functions of the watch are anticipated to accelerate market growth. The watch offers to track heart rate and even measure changes in the atmosphere is predicted to drive market progress. The rapid development of smartwatches and increased spending capacity. Rise in spending capacity and huge need for the watch among consumer is predicted to fuel market progress. Enormous investment by market players and a high need for the watch among millennial population is anticipated to accelerate outdoor watch market growth in the forecasted years.

"Ongoing R&D Activities to Fuel Market Progress"

Increased research and development activities and growing investment by market players are anticipated to drive market growth. The watches offer detailed data about environment during exercise. Further, it offers guidance for outdoor enthusiasts, which is predicted to foster market progress. Rapid adoption of technology and huge development of smartwatches is estimated to fuel market growth in the forthcoming years.

RESTRAINING FACTORS

"Higher Cost of Watch to Obstruct Market Growth"

The high cost of the watch is projected to limit market growth in the coming years.

OUTDOOR WATCH MARKET REGIONAL INSIGHTS 

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"Rise in Spending Capacity in North America to Drive Market Share "

North America is anticipated to account for the biggest outdoor watch market share owing to a rise in spending capacity and a huge need for the watch among consumers is predicted to fuel market progress. Massive investment by market players and a high need for the watch among the millennial population is anticipated to accelerate market growth in the forecasted years. The huge need to enjoy outdoor fun and increased awareness about fitness among the growing population is estimated to drive market growth. The watch offers to track heart rate and even measure changes in the atmosphere is predicted to drive market progress. Rapid development of smartwatches and increased spending capacity is projected to fuel market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Garmin (U.S.)
• Swatch Group (Switzerland)
• EZON (U.S.)
• Polar (Finland)
• LUMINOX (U.S.)
• TIMEX (U.S.)
• Fossil (U.S.)
• Bryton Inc. (U.S.)
• Richemont (Switzerland)
• NOMOS Glashütte (Germany)
• Casio (Japan)
• Rolex (Switzerland)
• SPORTSTAR (India)
• Citizen (Japan)
• MIO (U.S.)
• Suunto (Finland)
• Seiko (Japan)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.