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Luxury Watch Market Expansion
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Overview
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The global watch market, including luxury watches, is experiencing significant growth driven by smartwatch innovation and consumer trends, with projections to reach USD 148.50 billion by 2031. Major industry players like Rolex and Apple dominate the market, with Asia-Pacific leading in market share. The luxury watch segment is a substantial part of the overall luxury goods revenue, showcasing a shift in consumer preferences and market dynamics.
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How are luxury watch manufacturers adapting to the challenge posed by smartphones in the market?
How might the growth of online channels impact the traditional offline retail landscape for luxury watches?
What role does Asia-Pacific play in shaping the future of the luxury watch industry, particularly with China's market dominance?
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