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Watch market revenue is expected to grow by USD 7.74 billion from 2024 to 2028, driven by rising demand for premium watches and AI’s impact

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NEW YORK, Oct. 14, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global watch market  size is estimated to grow by USD 7.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  2.1%  during the forecast period.  Rising demand for premium watches is driving market growth, with a trend towards enhanced vendor engagement through social media and other entertainment channels. However, presence of counterfeit products  poses a challenge. Key market players include ASOROCK Watches LLC, Breitling SA, CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, DIFFUSIONE ITALIANA PREZIOSI S.P.A, Fossil Group Inc., Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Magnus Brand, Movado Group Inc, Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., SUED Watches, Talley and Twine Watches LLC, The Swatch Group Ltd., and Titan Co. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Quartz and Mechanical), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

ASOROCK Watches LLC, Breitling SA, CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, DIFFUSIONE ITALIANA PREZIOSI S.P.A, Fossil Group Inc., Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Magnus Brand, Movado Group Inc, Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., SUED Watches, Talley and Twine Watches LLC, The Swatch Group Ltd., and Titan Co. Ltd.

Key Market Trends Fueling Growth

The global watch market is witnessing a significant shift towards social media and digital platforms for marketing campaigns. Vendors, such as Titan, are utilizing social media channels like Facebook, Twitter, LinkedIn, Google+, WhatsApp, and YouTube for product promotion. They engage with their audience through these platforms directly and also collaborate with celebrities and vloggers for increased reach. Social media analytics tools, such as Simplify 360, are used to assess brand performance and audience engagement. This trend is expected to continue driving growth in the watch market. Additionally, partnerships with entertainment media are also becoming common for product marketing. 

The Swiss watch industry is witnessing a shift in trends with NATO straps and ECONYL yarn gaining popularity among luxury watch buyers. Rolex, a key player in the luxury market, reported an increase in sales of vintage-inspired design watches. Affluent millennials are driving the demand for exclusivity and innovative designs, pushing prices up. Heathrow Airport reported a growth in watch sales, indicating strong brand awareness in Western trends. Smartwatches are making inroads into the market, appealing to health-oriented consumers. However, their limited functionality, screen size, and battery life hinder mass adoption. The middle-class income group is exploring both offline retail stores and online retailers for their watch purchases. Brands are focusing on sensory experiences, personalization, and craftsmanship to add value. The smartwatch market is growing, with fitness tracking, notifications, and smartphone integration being key features. High-quality raw materials and production technologies are essential for maintaining brand value. Physical retail stores, specialty stores, and brand boutiques are adapting to e-commerce, offering visibility and convenience. Shipping charges remain a concern for online buyers. The assortment of watches and price range continue to be crucial factors in consumer decision-making. 

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Market Challenges

The global watch market faces a significant challenge from the proliferation of counterfeit products. These imitations infringe on the intellectual property rights of established brands by using similar trademarks, logos, and brand names. Counterfeiters capitalize on the popularity and high consumer demand for authentic watches, offering lower-priced alternatives. The expanding watch market increases opportunities for counterfeit sales. Vendors struggle to compete and take legal action against counterfeiters, resulting in lost revenue and damage to brand reputation. Luxury brands, in particular, are affected by the availability of counterfeit limited-edition and special-edition watches. The market for counterfeit watches is thriving due to low production costs and high-profit margins. APAC is the major market for counterfeit watches due to weak regulations and a lack of standards in the region. The sales of counterfeit watches could hinder the growth of the global watch market during the forecast period.In the watch market, personalization and craftsmanship remain key drivers for consumers. Brands face challenges in delivering unique designs and high-quality products that resonate with health-oriented buyers. Smartwatches, with features like fitness tracking, notifications, and smartphone integration, have gained popularity among working population and recreational consumers. Leading companies like Garmin and Titanium exterior brands offer advanced monitoring functionalities, music control, and even bone density and body fat percentage tracking. E-commerce and online retailers compete with physical retail stores and brand boutiques, while sustainability and eco-friendly materials become increasingly important. Vintage designs and collaborations with fashion brands also attract consumers. Watchmakers and celebrities continue to influence consumer spending on new products, with innovations in health monitoring gadgets, GPS, ECG support, and more.

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Segment Overview 

This watch market report extensively covers market segmentation by

Product 1.1 Quartz1.2 MechanicalDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Quartz-  The quartz watch segment is expected to experience consistent growth during the forecast period. The significant market share and high adoption rate of quartz watches can be attributed to their affordability compared to mechanical watches. Quartz watches are offered in both digital and analog modes, catering to diverse consumer preferences. Major players in the market include Casio, Citizen, and Fossil. Analog quartz watches dominate the market, available in various styles, price ranges, and designs. New product launches and technological advancements are driving the growth of the quartz watch market. For instance, Citizen’s Promaster Skyhawk A-T Blue Angels and Casio’s MRG-B2000SH Shougeki-Maru showcase innovative features like long battery life, water resistance, and limited edition designs. Quartz watches offer several advantages, such as precise timekeeping, low maintenance, affordability, durability, and manufacturing cost efficiency. These factors, coupled with new product launches and technological advancements, are expected to fuel the growth of the quartz watch market during the forecast period.

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Research Analysis

The watch market is thriving, with a focus on personalization and craftsmanship that resonates with consumers. Smartwatches are leading the charge, offering not only timekeeping but also fitness tracking, notifications, and smartphone integration. Health-oriented consumers are drawn to monitoring functionalities such as heartbeat rates, body composition, and walk tracks. High-quality raw materials and advanced production technologies are essential for creating durable and aesthetically pleasing timepieces. Watches come in various forms, from vintage designs to high-tech smartwatches. Physical retail stores, online retailers, brand boutiques, e-commerce, and shopping websites cater to diverse consumer preferences. Sustainable materials and eco-friendly production methods are increasingly important. Watchmakers and fashion brands collaborate to create new products, while celebrities lend their influence to the industry. Garmin, with its titanium exterior and advanced monitoring capabilities, is a key player. Smartwatches now offer music control, making them versatile companions for an active lifestyle. The future of the watch market lies in continuous innovation and catering to the evolving needs of consumers.

Market Research Overview

The watch market is thriving, with a focus on personalization, craftsmanship, and brand value. Smartwatches are popular, offering fitness tracking, notifications, and smartphone integration for health-oriented consumers. High-quality raw materials and production technologies are essential for producing watches that cater to both the working population and recreational activity seekers. Physical retail stores, online retailers, brand boutiques, e-commerce websites, and shopping platforms all play a role in the market. Vintage designs and sustainable materials, such as titanium exteriors and eco-friendly strap materials, are in demand. Watchmakers and fashion brands collaborate to release new products, with Garmin leading the way in monitoring functionalities, music control, and walk tracks. Health awareness and consumer spending on health monitoring gadgets continue to grow, with innovations in GPS, ECG support, and body composition monitoring. The luxury market, including brands like Breitling and Rolex, remains exclusive, with consumers willing to pay a premium for sensory experiences and visibility. The middle-class income group seeks affordable options, with limited functionality, screen size, and battery life considerations. Innovative designs, strap colors, and digital watches cater to affluent millennials, while vintage-inspired designs appeal to a wider audience. The watch industry continues to evolve, with eco-friendly materials and specialty stores driving visibility and assortment of watches.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductQuartzMechanicalDistribution ChannelOfflineOnlineGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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VOLTME Wins 2024-2025 Global Emerging Brand Shines at CES 2025

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LAS VEGAS, Jan. 14, 2025 /PRNewswire/ — VOLTME, the flagship brand of Voltnex Innovations and a global leader in power solutions, has been honored with the 2024-2025 Global Emerging Brand Award for its revolutionary products – the VOLTME Revo 240 PD3.1 GaN Desktop Charger and the Hako Series Portable Power Station – during the CES 2025. These prestigious accolades underscore VOLTME’s excellence in innovation, design, and technology and its growing influence in the global consumer electronics industry.

Innovation Driving Industry Leadership

As a trailblazer in advanced power solutions, VOLTME has earned widespread recognition for its cutting-edge products and global impact. Winning the Global Emerging Brand Award affirms VOLTME’s dedication to advancing consumer electronics. Its diverse portfolio, which spans from ultrathin power banks to high-powered GaN chargers, caters to the modern demand for convenience and efficiency in charging. VOLTME’s relentless innovation has firmly established it as a leader in power management solutions.

“We are deeply honored to receive the Global Emerging Brand Award during the CES 2025,” said Tommy Tse, COO of VOLTME. “This recognition reflects our unwavering commitment to delivering cutting-edge technology and exceptional user experiences.”

Breakthrough Innovations in Mobile Charging

VOLTME Revo 240 PD3.1 GaN Desktop Charger
Harnessing advanced Gallium Nitride (GaN) technology, the Revo 240 delivers up to 240W of power and supports PD3.1 and QC fast-charging protocols. Its compact design and superior energy efficiency make it ideal for safely and quickly powering laptops, tablets, and smartphones. A reliable choice for frequent travelers and high-demand users, the Revo 240 exemplifies robust and portable charging excellence.VOLTME Hako Series Portable Power Station
The Hako Series combines high-capacity battery performance with intelligent power management, offering multiple AC and USB ports to meet diverse power needs. Whether for outdoor adventures, travel, or emergencies, this portable power station supports simultaneous device charging while ensuring stability and efficiency. Designed for versatility, the Hako Series empowers modern consumers with dependable energy on the go.

Global Growth Through Innovation

VOLTME’s strategic global expansion has driven its success, with its innovative products now available in over 150 countries, serving more than 25 million households. By understanding consumer needs and introducing tailored solutions, VOLTME continues to lead the evolution of mobile power technologies.

The company has strengthened its international presence by establishing offices in key regions, including the United States, Russia, and Japan. As VOLTME scales its global operations, it remains steadfast in its mission to deliver high-quality, high- performance power solutions for diverse consumer needs.

Looking Ahead

Guided by its philosophy of “innovation-driven growth,” VOLTME is committed to advancing power technology and creating smarter, more efficient charging solutions for users worldwide. The company aims to redefine modern living with products that prioritize performance, reliability, and sustainability.

About Voltnex Innovations

Voltnex Innovations is a pioneering technology company specializing in cutting-edge consumer electronics and power solutions. The driving force behind the globally acclaimed VOLTME brand, Voltnex develops advanced charging devices, portable power stations, and innovative accessories designed to enhance modern lifestyles. With a focus on innovation, quality, and global partnerships, Voltnex Innovations delivers products that meet the evolving demands of consumers and businesses worldwide.

About Global Top Brands

The Global Top Brands Awards(GTB for short), established in 2006 by International Data Group (IDG), the GTB is a world-class selection event organized by Asia Digital Group and Europe Digital Group, supported by TWICE and International Data Corporation(IDC for short), an authoritative market research and analysis firm. This annual ceremony at CES highlights top global consumer electronics brands, promoting their prominence and fostering industry growth.

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SOURCE VOLTME

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PR Newswire Connects Companies and Media with Strategic APAC Network Expansion in 2024

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Bolsters press release distribution capabilities, facilitates productive and insightful sharing between PR professionals and the media

77% increase in media pickups with newly launched APAC English Premium circuit25% increase in average media pickups in Greater ChinaStrategic content partnerships with major news agencies and news aggregators in South Korea, Japan, Hong Kong and Taiwan

HONG KONG, Jan. 15, 2025 /PRNewswire/ — PR Newswire expanded its extensive APAC network in 2024, onboarding 280 new content partners, bringing the total network to 2,300. These efforts further strengthen PR Newswire’s position as the most extensive and reliable press release distribution network in APAC, enabling businesses to communicate effectively across diverse markets.

“We are committed to delivering high-quality and highly relevant media coverage in target markets,” said Lynn Liu, VP, Audience Development and Distribution Services, APAC, at PR Newswire. “Our expanded network ensures broad distribution across key channels, while fostering productive relationships between communications teams and the media.”

Key Market Highlights: 

APAC English Markets: Launched APAC English Premium Circuit 77% increase in media pick-ups compared to standard APAC English circuit260 English-language outlets placements

Mainland China: Launched Xinhua Bizwire CircuitPress release distribution to China’s most influential news platforms, including Tencent, Sina Finance, and the Financial Times (Chinese Edition)1,300 industry-specific media outlets in finance, technology, healthcare, travel, retail, and B2B sectors210,000 new social media followers in 2024, bringing total to 2.8 million500 million impressions and views of PRN content across major Chinese platforms such as Weibo, WeChat, and Baidu

Hong Kong and Taiwan: Key additions to Greater China DistributionTop-tier news portals such as MSN Chinese, Yahoo Taiwan, and China Times, garnering a combined 814 million monthly visitorsAM730, Bastille Post, ULifestyle, Economic Daily News, Investing.com, Yahoo Hong Kong, and Line Today, which all host around three to 46 million visitors monthly25% increase in average media pick-ups, growing to 300 from 240

South Korea and Japan: New strategic partnerships across key networksExclusive partnerships with leading private South Korean news agencies such as Newsis, News1, and ZDNet Korea, which see around 3.8 to 19 million visitors monthlyAgreements with major Japanese news aggregators for distribution through leading mobile news apps such as Gunosy, Newspass, and AU Service Today, which attract 6 to 46 million visitors monthly

Bridging Business & Media  

To foster a deeper understanding of the media landscape, media tours were conducted in Hong Kong, Malaysia and mainland China. Such experiences are unique and highly valuable among PR Newswire’s clients and staff as they allow attendees to gain firsthand insights and processes in leading media outlets.

Aside from tours, media gatherings, seminars, and panel discussions were also held in mainland China, Hong Kong, Indonesia, Japan, Singapore, Taiwan, and Vietnam. These events facilitate productive and insightful sharing between PR professionals and the media.

Growing Connections with Journalists and Influencers

In 2024, PR Newswire welcomed over 7,000 new journalists and media newsrooms in APAC to their ecosystem. 

“Currently, over 82,000 journalists, bloggers, and influencers in the APAC region rely on PR Newswire press releases as a key source of news. In 2025, we aim to deepen our partnerships with mainstream and industry-leading media outlets. While driving quality content and traffic to media websites, we will also explore more mutually beneficial collaborations to deliver superior value,” said Lynn Liu.

With 16 offices across 9 markets in APAC and a dedicated team of over 250 experienced professionals, PR Newswire has cultivated a strong, unmatched media distribution network. Leveraging unique partnerships with official national news agencies and their networks, including Xinhua News Agency, Yonhap News Agency in Korea, Kyodo News in Japan, Australian Associated Press, Press Trust of India, Antara News in Indonesia, Bernama News in Malaysia, and Vietnam News Agency, ensures that PR Newswire’s distribution network continues to lead in delivering impactful results for their clients.

About PR Newswire

PR Newswire is the industry’s leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world.

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Infosys and Tennis Australia Create New Generative AI Innovations at the Australian Open 2025

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Launch of ‘Beyond Tennis’: A new generative AI tennis league with AI players and data-driven tournaments

MELBOURNE, Australia, Jan. 14, 2025 /PRNewswire/ — Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, in partnership with Tennis Australia, has unveiled its latest suite of AI-driven features and platforms for Australian Open (AO) 2025, marking another milestone in the seven-year partnership between the two organizations. It further advances their joint vision of creating a more immersive experience of tennis through AI-driven technology innovations.

To know more about Infosys’ AI innovations at AO 2025, click here.

These innovations, powered by Infosys Topaz, an AI-first suite of offerings using generative AI technologies, will redefine fan engagement, empower players and coaches, and expand the boundaries of digital interactivity in tennis.

‘Beyond Tennis’ (World’s First Gen AI league in tennis): A unique breakthrough is ‘Beyond Tennis‘ powered by Infosys, the world’s first generative AI-powered tennis league. This fan-driven digital experience will provide year-round interactivity, allowing users to connect with virtual tennis players, train their teams, and compete in AI-generated tournaments. Fans will interact with 16 AI-crafted virtual players spread across eight teams. Envisioned as “The Slam That Never Stops,” the league will enhance the sport’s affinity among younger Gen Z audiences while ensuring their safety in digital environments, enabled by responsible AI framework.Agentic AI to drive fan engagement with AI Commentary: Australian Open 2025 will feature AI Commentary in the Infosys Match Centre on AO digital properties, on the website and the app. Using out of the box large language models AI Commentary will provide byte-sized insights at every match moment.VR AI Stadium: The Infosys Fan Zone at Melbourne Park steps into the future, introducing a new VR AI Stadium where fans can create stunning virtual courts. Using a new generative AI speech-to-image feature, fans can step onto a galaxy- or nature-inspired court, or even a 1970s themed court, and play a game of tennis.

Infosys is helping the Australian Open with AI, video analytics, and machine learning tools. Using AI Videos, players and coaches continue to get access to post-match reviews and pre-game advance video analysis. The AI Shot of the Day feature helps AO’s media team meet growing digital content demands, enabling rapid creation and sharing of social media-ready clips to feature captivating moments on court.

The Infosys Fan Zone at Melbourne Park remains climate active, with its carbon footprint fully offset and structures fully recyclable. Infosys and Tennis Australia are also advancing the Future Leaders Program powered by Infosys Springboard, the company’s digital learning and collaboration platform for the community, that provides participants with the opportunity to learn transferrable skills in areas such as inclusion, leadership, technology, and design thinking. The participants will also get a glimpse of a generative AI future by visiting the Infosys Fan Zone at Melbourne Park.

Andrew Groth, Executive Vice President – Asia Pacific, Infosys, said, “Each year at the Australian Open, we have pushed the boundaries of technology to fuel fan engagement and player performance. Infosys is proud to bring the latest generative AI innovations to court, from the fan-driven Beyond Tennis league to AI-amplified VR experiences, leveraging our industry leading AI-suite of offerings Infosys Topaz. Through this collaboration with Tennis Australia, we are enabling truly innovative platforms for fans, players, coaches, and media to engage with the sport.” 

Craig Tiley, CEO of Tennis Australia, and Australian Open Tournament Director, said, “For the past seven years, Infosys has helped Tennis Australia to raise the bar and serve up new experiences for fans using digital technologies. We’re excited to see the leaps being made with AI at AO 2025. AI is enabling new dimensions of interactivity for fans and insight for players, not to mention the speed and scale it brings to our content delivery. It’s an exciting leap forward that showcases how technology and AI is transforming tennis.”

Follow all the action from the tournament on AusOpen.com and discover more about the partnership at Infosys.com/AusOpen.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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