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Report
United Arab Emirates Traditional And Smart Watch Market Forecast 2024-2032
Market Report I 2024-08-02 I 136 Pages I Inkwood Research
KEY FINDINGS
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
o Product Type
- Mechanical Watch
- Quartz Analogue Watch
- Quartz Digital Watch
o Price Range
- Low-Range
- Mid-Range
- Luxury
- Smart Watch
o Smart Wearable
o Analogue Activity Watch
o Digital Activity Watch
Market by Distribution Channel:
- Offline Distribution Channel
o Hypermarket
o Jewellery and Watch Specialist
o Appliance and Electronic Specialist
o 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.
TABLE OF CONTENTS
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
TABLE 1: COUNTRY SNAPSHOT - UNITED ARAB EMIRATES
TABLE 2: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, HISTORICAL YEARS, 2018-2022 (IN $ MILLION & UNITS)
TABLE 3: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, FORECAST YEARS, 2024-2032 (IN $ MILLION & UNITS)
TABLE 4: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
TABLE 7: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
TABLE 8: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 9: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 10: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
TABLE 11: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRODUCT TYPE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
TABLE 12: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 13: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 14: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
TABLE 15: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH - PRICE RANGE, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
TABLE 16: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 17: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 18: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, HISTORICAL YEARS, 2018-2022 (IN MILLION UNITS)
TABLE 19: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, FORECAST YEARS, 2024-2032 (IN MILLION UNITS)
TABLE 20: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 21: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 22: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 23: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 24: LIST OF MERGERS & ACQUISITIONS
TABLE 25: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 26: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 27: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
TABLE 28: UNITED ARAB EMIRATES TRADITIONAL WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
TABLE 29: UNITED ARAB EMIRATES SMART WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
TABLE 30: UNITED ARAB EMIRATES TRADITIONAL WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
TABLE 31: UNITED ARAB EMIRATES SMART WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED ARAB EMIRATES
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2023
FIGURE 9: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY TRADITIONAL WATCH, 2024-2032 (IN $ MILLION)
FIGURE 10: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY TRADITIONAL WATCH - PRODUCT TYPE, IN 2023
FIGURE 11: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY MECHANICAL WATCH, 2024-2032 (IN $ MILLION)
FIGURE 12: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY QUARTZ ANALOGUE WATCH, 2024-2032 (IN $ MILLION)
FIGURE 13: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY QUARTZ DIGITAL WATCH, 2024-2032 (IN $ MILLION)
FIGURE 14: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY TRADITIONAL WATCH- PRICE RANGE, IN 2023
FIGURE 15: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY LOW-RANGE, 2024-2032 (IN $ MILLION)
FIGURE 16: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY MID-RANGE, 2024-2032 (IN $ MILLION)
FIGURE 17: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY LUXURY, 2024-2032 (IN $ MILLION)
FIGURE 18: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WATCH, 2024-2032 (IN $ MILLION)
FIGURE 19: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY SMART WATCH, IN 2023
FIGURE 20: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY SMART WEARABLE, 2024-2032 (IN $ MILLION)
FIGURE 21: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY ANALOGUE ACTIVITY WATCH, 2024-2032 (IN $ MILLION)
FIGURE 22: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY DIGITAL ACTIVITY WATCH, 2024-2032 (IN $ MILLION)
FIGURE 23: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2023
FIGURE 24: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY OFFLINE DISTRIBUTION CHANNEL, 2024-2032 (IN $ MILLION)
FIGURE 25: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, GROWTH POTENTIAL, BY OFFLINE DISTRIBUTION CHANNEL, IN 2023
FIGURE 26: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY HYPERMARKET, 2024-2032 (IN $ MILLION)
FIGURE 27: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY JEWELLERY AND WATCH SPECIALIST, 2024-2032 (IN $ MILLION)
FIGURE 28: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY APPLIANCE AND ELECTRONIC SPECIALIST, 2024-2032 (IN $ MILLION)
FIGURE 29: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY OTHER OFFLINE DISTRIBUTION CHANNELS, 2024-2032 (IN $ MILLION)
FIGURE 30: UNITED ARAB EMIRATES TRADITIONAL AND SMART WATCH MARKET, BY ONLINE DISTRIBUTION CHANNELS, 2024-2032 (IN $ MILLION)
FIGURE 31: UNITED ARAB EMIRATES TRADITIONAL WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
FIGURE 32: UNITED ARAB EMIRATES SMART WATCH MARKET SHARE ANALYSIS, 2022 & 2023 (IN %)
FIGURE 33: UNITED ARAB EMIRATES TRADITIONAL WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
FIGURE 34: UNITED ARAB EMIRATES SMART WATCH MARKET, BRAND SHARE ANALYSIS, 2022 & 2023 (IN %)
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