Luxury Watch Market

Luxury Watch Market Highlights

The global luxury watch market is expected to cross a value of USD 65.4 billion by the end of 2032. The market was valued at USD 43.2 billion in 2023 and is expected to expand at a CAGR of 5.5% between 2024-2032.

• Over the mid-term, the increasing inclination of consumers for using luxury watches as a social status sign is the primary factor anticipated to drive the global luxury watch market.
• The growing concern for the availability of counterfeit products is a major factor to challenge the market growth.
• The Asia Pacific luxury watch market is projected to dominate the global market.

Luxury Watch Market Outlook

A luxury watch is a high-quality timepiece that is typically crafted with exquisite materials, advanced craftsmanship, and precision engineering. Luxury watches are known for their exceptional design, attention to detail, and superior performance, often incorporating precious metals, gemstones, and complex mechanical movements.

According to our researchers at KD Market Insights, the increasing inclination of consumers for using luxury watches as a social status sign is one of the primary factors associated with the growth of the global luxury watches market. Luxury watch brands come with strong heritage, craftsmanship, and brand recognition. Hence, consumers seeking status symbol and luxury experiences are increasingly attracted to these brands. Our researchers have also found that millennials and Gen Z population are increasingly interested in luxury watches as fashion statements and lifestyle accessories. With the increasing millennial and Gen Z population, which according to the World Economic Forum recorded 1.8 billion millennials on earth, the demand for luxury watches is expected to increase, and in turn, drive the market growth. Apple Inc., The Swatch Group Ltd, and Audemars Piguet Holding S.A. are some of the significant parties in the global market for luxury watch.

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Luxury Watch Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global luxury watch market are:

• Increasing Disposable Income of Affluent Consumers: According to the statistics by the Organisation for Economic Co-operation and Development (OECD), the household disposable income in the European Union alone touched USD 41,482/capita in the year 2022, up from USD 34,186/capita in 2019. With the rising disposable income among affluent consumers, and individuals becoming more financially secure, the willingness to invest in luxury items as status symbol would increase, which in turn, is expected to fuel the demand for luxury watches.
• Growing Innovation and Technological Advancements of Luxury Watches: The manufacturers of luxury watch are continuously working on innovating so as to deliver cutting-edge technology, materials, and design features. Watch manufacturers nowadays are increasingly using advanced materials, such as ceramic, titanium, and carbon fiber to provide a greater experience to the consumers of luxury watches. Besides this, the manufacturers of watches are also innovating complicated functionalities that appeal to discerning consumers who are looking for exclusivity and performance in their luxury watches.

Which Probable Factors Could Hamper the Growing Luxury Watch Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of luxury watch are:

• Concern for the Availability of Counterfeit Products: One of the primary concerns associated with luxury watch market is the availability of counterfeit products. Counterfeit watches, often sold at significantly lower prices, undermine brand value, erode consumer trust, and impact sales of authentic luxury watches. Additionally, the grey market, where watches are sold through unauthorized channels outside of official distribution networks, dilutes the brand’s exclusivity and undermine pricing strategies, thereby affecting brand reputation and profitability.
• Increasing Competition from Alternative Investment Options: It has been observed that the investors who seek tangible assets are increasingly allocating their funds to alternative investment categories, such as fine jewelry, art, collectibles, and even cryptocurrencies. This, as a result, has lowered the demand for luxury watches as investment vehicles, and is expected to hamper the market growth more in the coming years.

How is the Global Luxury Watch Market Segmented?

Our experts at KD Market Insights have segmented the global luxury watch market as:

What are the Probable Factors Influencing the Asia Pacific Luxury Watch Market Forecast?

The Asia Pacific luxury watch market is majorly driven by the rapid economic growth among the countries in the region, along with the rising urbanization and westernization trends. The Asia Pacific region is witnessing rapid economic growth, leading to a significant increase in the affluent population. This has resulted in an increase in disposable income of the individuals, especially in countries, such as China, India, and few other Southeast Asian nations, driving significant opportunities for market growth of luxury watch. Additionally, several cities in the region are becoming cosmopolitan, backed by the rapid exposure to Western lifestyles and luxury brands, which is also expected to fuel the demand for luxury watches among the urban population. On the other hand, the expanding tourism sector in the region, which is attracting millions of visitors from around the world, is leading to an opportunity for luxury watch brands to take the benefits of luxury shopping of the tourists by establishing their products through flagship stores, boutiques, and duty-free outlets in key tourist hubs. Such a factor is also poised to drive the demand for luxury watches in the region in the years to come.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific luxury watch market growth:

• Seiko Holdings Corporation
• Citizen Watch Co., Ltd.
• Orient Watch Co., Ltd.
• Casio Computer Co., Ltd.
• Patek Philippe Asia-Pacific Pte Ltd.

Which Key Players Top the Global Luxury Watch Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global luxury watch market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with luxury watch market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global luxury watch market share:

• Apple Inc.
• The Swatch Group Ltd
• Audemars Piguet Holding S.A.
• Fossil Group, Inc.
• Citizen Watch Company of America, Inc.
• Seiko Watch Corporation
• Compagnie Financiere Richemont SA
• LVMH Moet Hennessy -Louis Vuitton
• Movado Group Inc.
• Ralph Lauren Corp.

What are the Recent Developments Observed in the Luxury Watch Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global luxury watch market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, TAG Heuer recently announced that it has launched its latest connected watch model that combines traditional Swiss watchmaking craftsmanship with advanced wearable technology. This watch is tailored to meet the expectations among luxury consumers for smartwatches.

Further, Rolex shared that it has unveiled a new limited-edition watch collection. This new collection is inspired by the historical themes and iconic designs and carries the legacy of Rolex’s heritage.

1. Preface
 1.1. Research Methodology
 1.2. Geographic Scope
 1.3. Years Considered
 2. Executive Summary

3. Market Overview
 3.1. Luxury Watch Overview
 3.2. Market Definition & Key Market Segments
 3.3. Industry Development
 3.4. Global Market Maturity
 3.4.1. North America
 3.4.2. Europe
 3.4.3. Asia Pacific
 3.4.4. Latin America
 3.4.5. Middle East & Africa
 3.5. Porter’s Five Force Analysis
 3.6. Industry Value Chain Analysis
 3.7. Macro-Economic Trends

4. Growth Drivers & Barriers in Global Luxury Watch Market
 5. Trends in Global Luxury Watch Market
 6. Global Luxury Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

7. Global Luxury Watch Market Segmentation Analysis, By Type
 7.1. Introduction
 7.2. Market Attractiveness, By Type
 7.3. BPS Analysis, By Type
 7.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 7.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 7.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 7.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 7.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

8. Global Luxury Watch Market Segmentation Analysis, By Demography
 8.1. Introduction
 8.2. Market Attractiveness, By Demography
 8.3. BPS Analysis, By Demography
 8.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 8.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

9. Global Luxury Watch Market Segmentation Analysis, By Distribution Channel
 9.1. Introduction
 9.2. Market Attractiveness, By Distribution Channel
 9.3. BPS Analysis, By Distribution Channel
 9.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 9.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 9.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 9.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 9.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

10. Geographical Analysis
 10.1. Introduction
 10.2. North America Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.1. By Type
 10.2.1.1. Introduction
 10.2.1.2. Market Attractiveness, By Type
 10.2.1.3. BPS Analysis, By Type
 10.2.1.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.1.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.1.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.1.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.1.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.2. By Demography
 10.2.2.1. Introduction
 10.2.2.2. Market Attractiveness, By Demography
 10.2.2.3. BPS Analysis, By Demography
 10.2.2.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.2.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.3. By Distribution Channel
 10.2.3.1. Introduction
 10.2.3.2. Market Attractiveness, By Distribution Channel
 10.2.3.3. BPS Analysis, By Distribution Channel
 10.2.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.3.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.3.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.3.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.4. By Country
 10.2.4.1. Introduction
 10.2.4.2. Market Attractiveness, By Country
 10.2.4.3. BPS Analysis, By Country
 10.2.4.4. U.S. Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.2.4.5. Canada Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

10.3. Europe Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.1. By Type
 10.3.1.1. Introduction
 10.3.1.2. Market Attractiveness, By Type
 10.3.1.3. BPS Analysis, By Type
 10.3.1.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.1.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.1.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.1.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.1.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.2. By Demography
 10.3.2.1. Introduction
 10.3.2.2. Market Attractiveness, By Demography
 10.3.2.3. BPS Analysis, By Demography
 10.3.2.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.2.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.3. By Distribution Channel
 10.3.3.1. Introduction
 10.3.3.2. Market Attractiveness, By Distribution Channel
 10.3.3.3. BPS Analysis, By Distribution Channel
 10.3.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.3.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.3.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.3.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4. By Country
 10.3.4.1. Introduction
 10.3.4.2. Market Attractiveness, By Country
 10.3.4.3. BPS Analysis, By Country
 10.3.4.4. Germany Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.5. United Kingdom Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.6. France Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.7. Italy Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.8. Spain Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.9. Russia Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.3.4.10. Rest of Europe Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

10.4. Asia Pacific Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.1. By Type
 10.4.1.1. Introduction
 10.4.1.2. Market Attractiveness, By Type
 10.4.1.3. BPS Analysis, By Type
 10.4.1.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.1.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.1.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.1.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.1.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.2. By Demography
 10.4.2.1. Introduction
 10.4.2.2. Market Attractiveness, By Demography
 10.4.2.3. BPS Analysis, By Demography
 10.4.2.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.2.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.3. By Distribution Channel
 10.4.3.1. Introduction
 10.4.3.2. Market Attractiveness, By Distribution Channel
 10.4.3.3. BPS Analysis, By Distribution Channel
 10.4.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.3.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.3.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.3.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4. By Country
 10.4.4.1. Introduction
 10.4.4.2. Market Attractiveness, By Country
 10.4.4.3. BPS Analysis, By Country
 10.4.4.4. China Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.5. India Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.6. Japan Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.7. South Korea Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.8. Indonesia Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.9. Taiwan Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.10. Australia Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.11. New Zealand Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.4.4.12. Rest of Asia Pacific Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

10.5. Latin America Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.1. By Type
 10.5.1.1. Introduction
 10.5.1.2. Market Attractiveness, By Type
 10.5.1.3. BPS Analysis, By Type
 10.5.1.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.1.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.1.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.1.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.1.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.2. By Demography
 10.5.2.1. Introduction
 10.5.2.2. Market Attractiveness, By Demography
 10.5.2.3. BPS Analysis, By Demography
 10.5.2.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.2.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.3. By Distribution Channel
 10.5.3.1. Introduction
 10.5.3.2. Market Attractiveness, By Distribution Channel
 10.5.3.3. BPS Analysis, By Distribution Channel
 10.5.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.3.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.3.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.3.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.4. By Country
 10.5.4.1. Introduction
 10.5.4.2. Market Attractiveness, By Country
 10.5.4.3. BPS Analysis, By Country
 10.5.4.4. Brazil Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.4.5. Mexico Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.5.4.6. Rest of Latin America Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

10.6. Middle East & Africa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.1. By Type
 10.6.1.1. Introduction
 10.6.1.2. Market Attractiveness, By Type
 10.6.1.3. BPS Analysis, By Type
 10.6.1.4. Mechanical Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.1.4.1. Manual Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.1.4.2. Automatic Movement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.1.5. Quartz Watch Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.1.6. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.2. By Demography
 10.6.2.1. Introduction
 10.6.2.2. Market Attractiveness, By Demography
 10.6.2.3. BPS Analysis, By Demography
 10.6.2.4. Men Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.2.5. Women Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.3. By Distribution Channel
 10.6.3.1. Introduction
 10.6.3.2. Market Attractiveness, By Distribution Channel
 10.6.3.3. BPS Analysis, By Distribution Channel
 10.6.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.3.5.1. Single Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.3.5.2. Multi Brand Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.3.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.4. By Geography
 10.6.4.1. Introduction
 10.6.4.2. Market Attractiveness, By Geography
 10.6.4.3. BPS Analysis, By Geography
 10.6.4.4. GCC Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.4.5. North Africa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.4.6. South Africa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027
 10.6.4.7. Rest of Middle East & Africa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2021-2027

11. Competitive Landscape
 11.1. Market Share of Key Players
 11.2. Market Positioning of Major Players in Global Luxury Watch Market
 11.3. Company Profiles
 11.3.1. LVMH Moet Hennessy Louis Vuitton SE
 11.3.1.1. Company Overview
 11.3.1.2. Product Offered
 11.3.1.3. Business Strategy
 11.3.1.4. Financials
 11.3.1.5. SWOT Analysis
 11.3.1.6. Key Achievements & Developments
 11.3.2. Rolex SA
 11.3.3. Compagnie Financiere Richemont SA
 11.3.4. The Swatch Group
 11.3.5. Patek Philippe SA
 11.3.6. Audemars Piguet Holding SA
 11.3.7. Chopard
 11.3.8. Girard- Perregaux
 11.3.9. Ulysse Nardin
 11.3.10. Breitling SA
 11.3.11. Other Major & Niche Players
 12. Disclaimer