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Clocks/timepiece

Overview of the timepiece industry

The watch/clocks/timepiece industry is a time-honoured and productive sector focused on timepieces. It includes the production and manufacturing of wares, such as wristwatches. It also features services related to such products. Examples include marketing, research, distribution, repair, and sales. It is a sector that features diverse connections. It is due to the applications of timepieces and the many elements used for creating such wares. For instance, the sector has links to the chemical, metalworking, and electronics industries. Also, it is connected to the banking, IT, sports, and retail sectors.

Is the sector of high value?

As a result, the segment is among the most revenue-generating. For instance, it has recently reached a market value of $112.1 billion. The industry is also the most time-honoured. It is due to its existence for several centuries.

How does the sector maintain its position?

Among the sector’s means of maintaining its position is its prime focus on innovation. It is because it helps to remain up-to-date on the latest trends and challenges. Such include introducing new technologies in timepieces. Often, presenting novel solutions related to such topics occurs during trade expositions. Countries with time-honoured industry traditions generally host these events. Such include the Italian Republic, the Kingdom of Spain and the Swiss Confederation. They also feature the Federative Republic of Germany. They also include the United States of America. The events often occur every year. It ensures that industry members remain up-to-date on the latest information. The events generally attract tens of thousands of participants.