Saudi Arabia Car Clock Market (2022-2028) | Industry, Outlook, Forecast, Revenue, Size, Share, Growth, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Saudi Arabia Car Clock Market Synopsis

Saudi Arabia Car Clock Market is witnessing significant growth due to various factors such as increase in car usage and rising disposable income. The rising number of vehicles on Saudi roads is anticipated to drive the demand for car clocks over the forecast period. The automotive industry in Saudi Arabia is one of the most diversified and largest industries in the country. The kingdom’s democratic and stable political environment, burgeoning economy, and attractive investment policies have resulted in an influx of multinational companies (MNCs) and Original Equipment Manufacturers (OEMs) into the automotive sector.

According to 6Wresearch, the Saudi Arabia Car Clock Market size is expected to grow during 2022-2028. A car clock is a timepiece mounted on the dashboard or windscreen of a vehicle. It is used to provide the driver with an accurate display of time while driving. The Saudi Arabia Car Clock Market is driven by factors such as the increasing number of vehicle registrations, rising disposable incomes, and the growing automotive industry. However, the high cost of car clocks and the availability of alternatives are expected to restraint the growth of this market.

Saudi Arabia is a Persian Gulf country which is one of the most oil producing countries in the world. It has been declared as one of the emerging economies by International Monetary Fund (IMF). The country has a huge population and a significant proportion of that population travels by cars.

More cars in Saudi Arabia have clocks on their dashboards than anywhere else in the globe. Saudis believe that having a clock in your car improves its resale value. As such, they're willing to pay a premium for cars that come equipped with one. Interestingly, this belief isn't shared by residents of other countries in the Middle East. In fact, clocks are actually quite rare in cars across the region.

Factors Affecting the Saudi Arabia Car Clock Market

There are various factors that are contributing to the Saudi Arabia Car Clock Market growth. The market is expected to be driven by the growing demand for timekeeping devices in cars and the increasing need for safety and security features in vehicles. The market growth is also attributed to the rising disposable incomes and changing lifestyles of consumers in Saudi Arabia.

One more factor is the increasing demand for GPS navigation systems in luxury cars. These systems offer features such as real-time tracking of routes, alerts when a traffic jam is encountered, and estimates of travel time. Another factor is the growing trend of women driving cars in Saudi Arabia. As women gain more autonomy and access to finances, they are increasingly buying cars and installing car clocks. This increase in demand is also attributable to the fact that car clocks provide drivers with useful information such as elapsed time, current speed, and distance traveled.

Some limitations that are affecting the Saudi Arabia Car Clock Market revenue include lack of standardization among vendors and products, fragmentation among buyers across geographies due to language barriers, and low penetration rates among motorists. Despite these limitations, some key players in the Saudi Arabia Car Clock Market are focusing on developing innovative products that can conquer these challenges.

Furthermore, there is also a scarcity of quality brands in the market, which makes it difficult for consumers to find an appropriate product. This has led to increased prices for car clocks, making them less affordable for many buyers.

Impact of COVID-19 on the Saudi Arabia Car Clock Market

The Pandemic has resulted in a severe decline in the Global Car Clock Market. This can be attributed to multiple factors such as the strict lockdown imposed across Saudi Arabia, which resulted in the isolation of people in their homes which resulted in less car driving and interaction among individuals creating a decline in the Saudi Arabia Car Clock Market revenue.

Market Analysis Based on Type

On the basis of type, the Saudi Arabia Car Clock Market share has been bifurcated into analog and digital. The analog segment dominates the Saudi Arabia Car Clock Market due to its low cost and wide availability. Analog clocks are currently preferred by many drivers because they are familiar with them. However, the digital segment is projected to grow at a higher CAGR during the forecast period owing to its features such as date & day display, stopwatch function, and others.

The digital car clock trend began in the early 2000s when a limited number of luxury vehicles came equipped with digital clocks. Since then, the trend has gradually spread to all types of cars and trucks. Today, almost every new car comes equipped with a digital car clock. This is due to several reasons:

• The increasing popularity of electronic gadgets such as smartphones and tablets among consumers.
• Rising demand for enhanced safety and convenience features in vehicles
• Increased awareness about road safety issues among consumers

Digital clocks present many advantages over traditional car clocks including being more accurate, having more features, and being more user-friendly. They also have the advantage of displaying time in multiple languages. In addition, they can be fitted with weather forecast capabilities, so drivers know what conditions to expect on their route. Digital car clocks can also be used as hands-free devices for making calls or listening to music while driving.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Saudi Arabia Car Clock Market Outlook
• Market Size of Saudi Arabia Car Clock Market, 2021
• Forecast of Saudi Arabia Car Clock Market, 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Revenues & Volume for the Period 2018 - 2028
• Saudi Arabia Car Clock Market Trend Evolution
• Saudi Arabia Car Clock Market Drivers and Challenges
• Saudi Arabia Car Clock Price Trends
• Saudi Arabia Car Clock Porter's Five Forces
• Saudi Arabia Car Clock Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Analog Type for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Digital Type for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Passenger Cars for the Period 2018 - 2028
• Historical Data and Forecast of Saudi Arabia Car Clock Market Revenues & Volume By Commercial Vehicles for the Period 2018 - 2028
• Saudi Arabia Car Clock Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Saudi Arabia Car Clock Top Companies Market Share
• Saudi Arabia Car Clock Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Car Clock Company Profiles
• Saudi Arabia Car Clock Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Analog Type
• Digital Type

By Application

• Passenger Cars
• Commercial Vehicles