GITNUX MARKETDATA REPORT 2024

Watch Industry Statistics

The watch industry is projected to experience steady growth in the coming years driven by increased demand for luxury timepieces and technological advancements in smartwatches.

Statistic 1

"In 2019, the global watch market size was valued at $62.5 billion"

Sources Icon

Statistic 2

"The compound annual growth rate (CAGR) for the watch market from 2020 to 2027 is expected to be 13.5%"

Sources Icon

Statistic 3

"Swiss watch exports reached a total value of 21.2 billion Swiss francs in 2019"

Sources Icon

Statistic 4

"The luxury watch segment constitutes about half of the global watch market revenue"

Sources Icon

Statistic 5

"The United States tops the list of the largest markets in the watch industry valued at around 9,814 million USD in 2021"

Sources Icon

Statistic 6

"The average price of a watch sold in 2021 is approximately $180"

Sources Icon

Statistic 7

"The average revenue per person in the watch market is expected to amount to $22.98 in 2021"

Sources Icon

Statistic 8

"Growth of online watch sales in 2019 was 31%"

Sources Icon

Statistic 9

"Watches are the third most purchased products online after fashion and books"

Sources Icon

Statistic 10

"Wrist watches contribute to around 88.8% of watch market value"

Sources Icon

Statistic 11

"China will overtake the U.S as the biggest watch market by 2023"

Sources Icon

Statistic 12

"As of 2023, Asia Pacific region is estimated to hold a 44.8% share of global watch market"

Sources Icon

Statistic 13

"Approximately 1.2 billion watches are sold worldwide annually"

Sources Icon

Statistic 14

"The mechanical watch segment accounted for a market share of around 70% in 2019"

Sources Icon

Statistic 15

"Men accounted for a larger market share of around 58% in the global watch market in 2019"

Sources Icon

Statistic 16

"The largest players in the watch market by revenue are Swatch Group, Rolex, and Richemont"

Sources Icon

Statistic 17

"The global market for luxury watches is expected to reach $ 51.31 billion by 2026"

Sources Icon

Statistic 18

"The Asia Pacific region accounted for almost 40% of total watch sales in 2017"

Sources Icon

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!