Technavio, a global technology research and advisory company has been monitoring the online jewelry market and has compiled a report. According to the report, the online jewelry market is estimated to grow by $19.88 billion between 2020 and 2024, with CAGR of over 15%.
The report provides an updated analysis on the current market overview, the drivers and the trends.
The major trends in the jewelry market are the growing use of internet and the e-commerce platforms.
The report mentions the major players in the jewelry industry to be CHANEL Ltd., Chopard Group, Chow Tai Fook Jewelry Co. Ltd, Signet Jewelers Ltd., and Graff Diamonds Ltd.
The key market driver is the innovation of jewelry designs, with technology driving the market.
The market is projected to grow at a yearly rate of 24.59% during the period, with the revenue growth of the market increasing by 19.88 billion.