GITNUXREPORT 2025

Watch Industry Statistics

Global watch market valued at USD 58 billion, driven by Millennials, growth trends.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

Swiss watch exports declined by 20% in 2020 due to the COVID-19 pandemic

Statistic 2

Online watch sales increased by 22% in 2022

Statistic 3

The online luxury watch market is expected to grow at a CAGR of over 9% from 2023 to 2030

Statistic 4

The demand for vintage watches has increased by 25% annually over the past five years

Statistic 5

Watch industry employment in Switzerland has decreased by 8% since 2019, due to automation and pandemic impacts

Statistic 6

The average annual growth rate for the global luxury watch market was 4.5% from 2018 to 2022

Statistic 7

In 2022, China became the fastest-growing market for luxury watches with a growth rate of 12%

Statistic 8

Swiss watch exports to the U.S. increased by 8% in the first quarter of 2023, showing recovery post-pandemic

Statistic 9

The demand for solar-powered watches has grown by 15% annually, driven by environmental concerns

Statistic 10

The Asia-Pacific region's luxury watch market is expected to grow by over 7% annually until 2030, driven by rising affluence

Statistic 11

The average carbon footprint per watch produced has decreased by 20% over the past decade due to sustainable manufacturing initiatives

Statistic 12

The resale market for vintage Rolex watches has grown by 15% annually in recent years, driven by collector interest

Statistic 13

The Asia-Pacific market for smartwatches is projected to grow at a CAGR of 10% through 2027, driven by tech adoption

Statistic 14

The global watch market was valued at approximately USD 58 billion in 2022

Statistic 15

The luxury watch segment accounts for over 40% of the total watch market revenue

Statistic 16

Approximately 50 million watches are produced annually worldwide

Statistic 17

The average price of a Swiss watch is around USD 5,000

Statistic 18

Smartwatches are projected to make up approximately 40% of the watch market by 2025

Statistic 19

The pre-owned watch market is valued at over USD 15 billion globally and growing rapidly

Statistic 20

The average lifespan of a mechanical Swiss watch is approximately 30-50 years with proper maintenance

Statistic 21

The largest watch brands by revenue include Rolex, Omega, and Patek Philippe

Statistic 22

The global digital watch market is expected to reach USD 14 billion by 2027, with a CAGR of 11%

Statistic 23

Approximately 2 million smartwatches are sold annually in the U.S., representing over 15% of the overall watch market

Statistic 24

The global watch repair services market is estimated to reach USD 4 billion by 2025, growing at a CAGR of 4.3%

Statistic 25

The global titanium watch market is valued at approximately USD 1.2 billion, with an increasing preference for lightweight, durable materials

Statistic 26

The penetration rate of smartwatches among overall watch users is approximately 30% globally

Statistic 27

The watch industry employs over 300,000 people worldwide, with Switzerland being the largest employer

Statistic 28

The penetration of e-commerce in watch sales is over 25% globally and expected to grow

Statistic 29

Watches with embedded health and fitness features comprise about 15% of the smartwatch market, with growth expected to accelerate

Statistic 30

The average retail price of a Swiss-made watch is approximately USD 7,500, higher than the global average

Statistic 31

Millennials are responsible for 35% of luxury watch sales

Statistic 32

The Asian-Pacific region accounts for nearly 45% of global watch consumption

Statistic 33

The New York and Hong Kong markets are among the top retail centers for luxury watches globally

Statistic 34

70% of watch buyers are Millennials, indicating their dominant role in shaping market trends

Statistic 35

The participation of women in luxury watch purchasing has increased by 20% over the last five years, signifying changing consumer demographics

Statistic 36

The average resale value of a luxury watch after 5 years is around 70-80% of its original retail price

Statistic 37

The quartz movement segment dominates the market with approximately 60% of global watch sales

Statistic 38

The average retail price for a high-end luxury watch exceeds USD 20,000

Statistic 39

The fastest-growing segment in the watch industry is custom and limited-edition watches, with a growth rate of over 12% annually

Statistic 40

The average size of a men's luxury watch case is between 40mm and 42mm, while women's watches tend to range from 28mm to 36mm

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Key Highlights

The global watch market was valued at approximately USD 58 billion in 2022
The luxury watch segment accounts for over 40% of the total watch market revenue
Swiss watch exports declined by 20% in 2020 due to the COVID-19 pandemic
Approximately 50 million watches are produced annually worldwide
The average price of a Swiss watch is around USD 5,000
Online watch sales increased by 22% in 2022
The quartz movement segment dominates the market with approximately 60% of global watch sales
Millennials are responsible for 35% of luxury watch sales
The Asian-Pacific region accounts for nearly 45% of global watch consumption
Smartwatches are projected to make up approximately 40% of the watch market by 2025
The pre-owned watch market is valued at over USD 15 billion globally and growing rapidly
The average lifespan of a mechanical Swiss watch is approximately 30-50 years with proper maintenance
The online luxury watch market is expected to grow at a CAGR of over 9% from 2023 to 2030

The watch industry is ticking through a remarkable transformation, with a booming $58 billion market, rapidly rising smartwatches and online sales, and a dynamic shift driven by Millennials and emerging markets like China and Asia-Pacific.

Market Dynamics and Growth

Swiss watch exports declined by 20% in 2020 due to the COVID-19 pandemic
Online watch sales increased by 22% in 2022
The online luxury watch market is expected to grow at a CAGR of over 9% from 2023 to 2030
The demand for vintage watches has increased by 25% annually over the past five years
Watch industry employment in Switzerland has decreased by 8% since 2019, due to automation and pandemic impacts
The average annual growth rate for the global luxury watch market was 4.5% from 2018 to 2022
In 2022, China became the fastest-growing market for luxury watches with a growth rate of 12%
Swiss watch exports to the U.S. increased by 8% in the first quarter of 2023, showing recovery post-pandemic
The demand for solar-powered watches has grown by 15% annually, driven by environmental concerns
The Asia-Pacific region's luxury watch market is expected to grow by over 7% annually until 2030, driven by rising affluence
The average carbon footprint per watch produced has decreased by 20% over the past decade due to sustainable manufacturing initiatives
The resale market for vintage Rolex watches has grown by 15% annually in recent years, driven by collector interest
The Asia-Pacific market for smartwatches is projected to grow at a CAGR of 10% through 2027, driven by tech adoption

Market Dynamics and Growth Interpretation

Amidst a 20% plunge in Swiss exports during the pandemic's peak, the watch industry is ticking toward digital, vintage, and sustainable horizons—proving that time waits for no one, especially those adapting quickly.

Market Size and Value

The global watch market was valued at approximately USD 58 billion in 2022
The luxury watch segment accounts for over 40% of the total watch market revenue
Approximately 50 million watches are produced annually worldwide
The average price of a Swiss watch is around USD 5,000
Smartwatches are projected to make up approximately 40% of the watch market by 2025
The pre-owned watch market is valued at over USD 15 billion globally and growing rapidly
The average lifespan of a mechanical Swiss watch is approximately 30-50 years with proper maintenance
The largest watch brands by revenue include Rolex, Omega, and Patek Philippe
The global digital watch market is expected to reach USD 14 billion by 2027, with a CAGR of 11%
Approximately 2 million smartwatches are sold annually in the U.S., representing over 15% of the overall watch market
The global watch repair services market is estimated to reach USD 4 billion by 2025, growing at a CAGR of 4.3%
The global titanium watch market is valued at approximately USD 1.2 billion, with an increasing preference for lightweight, durable materials
The penetration rate of smartwatches among overall watch users is approximately 30% globally
The watch industry employs over 300,000 people worldwide, with Switzerland being the largest employer
The penetration of e-commerce in watch sales is over 25% globally and expected to grow
Watches with embedded health and fitness features comprise about 15% of the smartwatch market, with growth expected to accelerate
The average retail price of a Swiss-made watch is approximately USD 7,500, higher than the global average

Market Size and Value Interpretation

With a market fueled by Swiss craftsmanship, luxury allure, and a smartwatch revolution promising to keep us ticking, the watch industry is clearly balancing tradition and technology in a time where nearly half of its revenue is derived from the most expensive tickers, while pre-owned and e-commerce sectors demonstrate that time truly is money—in all its forms.

Regional and Demographic Trends

Millennials are responsible for 35% of luxury watch sales
The Asian-Pacific region accounts for nearly 45% of global watch consumption
The New York and Hong Kong markets are among the top retail centers for luxury watches globally
70% of watch buyers are Millennials, indicating their dominant role in shaping market trends
The participation of women in luxury watch purchasing has increased by 20% over the last five years, signifying changing consumer demographics

Regional and Demographic Trends Interpretation

As Millennials, now wielding 70% of the luxury watch market and driving a 20% increase in women’s purchases, are ticking away past old traditions, the industry must recognize that the future’s timing is firmly in their fashionable hands—the world’s most influential timekeepers.

Second-Hand and E-commerce Markets

The average resale value of a luxury watch after 5 years is around 70-80% of its original retail price

Second-Hand and E-commerce Markets Interpretation

Despite the allure of timeless craftsmanship, luxury watches retain only about 70-80% of their original value after five years, proving that even precious moments can depreciate with time.

Segment and Product Types

The quartz movement segment dominates the market with approximately 60% of global watch sales
The average retail price for a high-end luxury watch exceeds USD 20,000
The fastest-growing segment in the watch industry is custom and limited-edition watches, with a growth rate of over 12% annually
The average size of a men's luxury watch case is between 40mm and 42mm, while women's watches tend to range from 28mm to 36mm

Segment and Product Types Interpretation

While quartz watches reign supreme with over half of global sales, the industry’s true heartbeat is now in the bespoke and limited editions, as luxury buyers demonstrate that in watchmaking, a statement isn’t just told—it’s worn confidently on the wrist.