Summary

Japan might be considered a microcosm of the watch industry as a whole. They feature some of the biggest watch groups in the world in addition to luxury, small independents, microbrands, and inexpensive watches. To assemble a watch collection that combines inexpensive, microbrand, and luxury items, you will need to shop across many brand names, in numerous countries, and in a range of price points for other parts of the world. Japan has not only produced amazing watches in every price range, but its brands have also solidified their place in watch history by being the first to introduce the quartz movement, spring drive technology, specific polishing and lacquer techniques, and perhaps even the first automatic chronograph. Japanese timepieces have their own design language and tradition in addition to their advancements and inventions in horology. Japan has a long history of producing watches, and several well-known Japanese watch brands are now well-known throughout the world. Businesses like Seiko and Citizen, with their inventive designs and high caliber of workmanship, have been instrumental in forming the watch business. Japanese watchmakers are renowned for their inventive watch designs and technological breakthroughs. For instance, Seiko invented the kinetic and spring drive movements, two important technological innovations, and led the way in the creation of quartz timepieces. Japanese watch companies provide a wide variety of goods to suit different market niches. This comprises high-end luxury timepieces, mid-range mechanical watches, and inexpensive quartz watches.

According to the research report "Japan Watch Market Overview, 2029," published by Bonafide Research, the Japan Watch Market is expected to add more than USD 3 Billion from 2024 to 2029. Japan's middle class has consistent income growth despite the country's economic ups and downs, which gives them more purchasing power for luxury items like watches. In addition to being used as timepieces, watches are now regarded as investment pieces and fashion accessories, drawing in a larger market of people who value preservation and unique expression. Japanese companies are well known for their devotion to using traditional methods and their painstaking attention to detail. Customers that value authenticity and quality in their purchases will find resonance in this. When it comes to introducing cutting-edge features like health tracking, GPS synchronization, and solar charging into their watches, Japanese watchmakers are leading the way. Tech-savvy buyers looking for capabilities beyond simple timekeeping will find this appealing. Cutting-edge materials like ceramic and titanium provide lightweight, long-lasting construction, while striking, simple designs satisfy a wide range of aesthetic tastes. The attraction of the market is further increased by limited-edition models and characteristics that are unique to Japan, which create excitement and draw collectors from all over the world. In the Japanese market, domestic brands like Casio, Citizen, and Seiko are well-known. These companies are well-known not just in Japan but also abroad thanks to their creativity and high caliber. Luxury watch demand is rising in Japan as people learn to value fine craftsmanship and distinctive designs. A number of Japanese brands and foreign luxury brands serve the market's luxury niche. Japanese watch brands are highly valued in foreign markets and have a global impact. The popularity of Japanese watches around the world can be attributed to their reputation for dependability, accuracy, and innovation.

Based on movement market is divided into smart watch, Quartz, mechanical, solor & other. Mechanical segment is one of the popular choices. Japan has a rich and distinguished tradition of producing mechanical watches, and well-known companies like Grand Seiko and Credor are constantly pushing the limits of accuracy and artistry. This legacy has cultural value and encourages a profound respect for the complex mechanics found in antique watches. Many people view mechanical timepieces as family heirlooms and assets that are passed down through the years. Their perceived value and appeal are generally influenced by their intricate nature, longevity, and limited manufacturing. Japanese watchmakers are masters at coming up with inventive and elegant designs for their mechanical timepieces. Sophisticated watch aficionados and discriminating collectors find a common aesthetic in the sophisticated intricacies of Credor Spring Drive and the understated grace of Grand Seiko.

Based on the product range of the market is divided into low- range, Mid-range, luxury. Mid-range is the preferred segment by customers. A wide spectrum of Japanese consumers may purchase mid-range watches, which combine brand recognition, good construction quality, and dependable timekeeping at a price point that's in between. This meets the needs of customers looking for good prices without sacrificing necessary functionality. They serve a variety of markets, such as young individuals, working professionals, and people looking to replace their basic wristwatches. The high market share of the sector is attributed to its diverse audience. A wide variety of styles are available from mid-range companies, including stylish sports timepieces, traditional designs, and fashion-forward items. This accommodates a wide range of tastes and makes it possible for customers to select timepieces that complement their personalities and lifestyles.

Based on the Enduser the market can be categorized by male, female, unisex. Male segment is dominating. Although historical circumstances may still contribute to a higher percentage of male watch purchasers, it would be oversimplified to declare "male" to be the only demographic that leads. Watches are widely considered as necessary accessories with cultural and social value in many cultures, including Japan. Men's timepieces have always been connected to status, competence, and punctuality. Japan boasts a robust corporate culture that places great importance on professionalism and meticulousness. Professionals are said to need a wristwatch, and men's watches, with their simple and classic styles, could go better with more formal business wear. Men's timepieces frequently have a number of technological features including chronographs, numerous time zones, and other complications, especially those in the upper price categories. Customers who are curious about the technical aspects of watchmaking could find this appealing.

Based on type of Distribution Channel the market can be categorized by retail store, specialty store, and online retail. Specialty store is leading one. Specialty shops frequently carry a wide variety of brands, from well-known luxury labels to specialized independent watchmakers. Compared to single-brand retailers, this variety attracts a wider consumer base by meeting a range of budgets and preferences. By providing watch repair, servicing, and authentication services, a lot of specialist shops foster long-lasting customer connections and foster trust. They are different from other channels because of their all-inclusive experience. Establishments that specialize in watches create a sophisticated setting that highlights the timepieces' status and artistry. Customers looking for an exclusive experience are drawn to this atmosphere while purchasing luxury watches.

Considered in this report:
• Geography: Japan
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• Japan Watch market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Movement:
• Smart watch
• Quartz
• Mechanical
• Solar & other

By Product Range:
• Low- range
• Mid-range
• Luxury

By End user:
• Male
• Female
• Unisex

By Distribution channel:
• Retail store
• Speciality store
• Online retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Watch industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

ページTOPに戻る

Table of Contents