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The luxury watch industry, featuring prestigious brands like Rolex, Omega, and Cartier, represents the pinnacle of status symbols and craftsmanship. Market projections indicate the sector will reach USD 54.31 billion by 2025, expanding to USD 72.13 billion by 2030, with a 5.84% CAGR (Luxury Watch Market Analysis | Industry Forecast, Size & Report Insights).
A significant challenge facing the luxury watch market is counterfeit goods. The global counterfeit market reached USD 4.2 trillion in 2022, with luxury goods, including watches, comprising a substantial portion.
This phenomenon not only deceives consumers but threatens authentic brands' reputation and financial stability (A Snapshot of the Trillion Dollar Counterfeit Market).
Expert manual inspections of serial numbers, engravings, and material quality have been the traditional authentication approach for luxury timepieces. While valuable, these methods prove time-consuming, subjective, and unsuitable for a rapidly expanding market.
Authentication technology is evolving through RFID, blockchain, and artificial intelligence implementations. Computer vision AI particularly stands out for its precision and efficiency in analyzing visual data.
TrustWatch, an AI-driven system developed by Italian company Hoken Tech, leverages NFT and blockchain expertise. With a 4.6/5 Trustpilot rating based on 21 reviews, the company demonstrates professional excellence. The system employs machine learning algorithms to authenticate luxury watches through user-uploaded images.
TrustWatch utilizes computer vision trained on thousands of authentic and counterfeit watch images. The AI model covers various luxury brands and over 500 models, featuring:
The luxury watch industry continues its upward trajectory, necessitating innovative authentication solutions. TrustWatch’s AI-powered approach is positioned to redefine authentication standards, providing collectors with enhanced security and confidence in their investments.
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