GITNUX MARKETDATA REPORT 2024

Wrist Watch Industry Statistics [Fresh Research]

In this post, we delve into key statistics shaping the wristwatch industry, providing valuable insights into market size, trends, top brands, importers, and consumer preferences. From the global market value to the dominance of luxury and smartwatches, these statistics offer a comprehensive view of the industry landscape.

Statistic 1

"The global wristwatch market size was valued at USD 62.8 billion in 2020."

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Statistic 2

"The wristwatch market is projected to grow at a CAGR of approximately 6.2% during the forecast period (2021-2028)."

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Statistic 3

"According to 2019 sales data, Apple, Rolex, and Swatch Group are the top three wristwatch brands by sales."

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Statistic 4

"The mechanical watches segment accounted for 18.4% of the wristwatch market in 2019, growing at a CAGR of 6.7%."

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Statistic 5

"Luxury wristwatches accounted for approximately 35.5% of the market value share in 2019."

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Statistic 6

"The United States is the largest wristwatch importer, with a consumer market worth $3.3 billion in 2019."

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Statistic 7

"The Swiss wristwatch industry produced 20.6 million units in 2018."

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Statistic 8

"In 2019, around 63.5% of smartwatches sold were based on the iOS operating system."

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Statistic 9

"The market share of female wristwatches accounted for 53.4% in 2019."

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Statistic 10

"The market share of quartz analog wristwatches was 72.4% in 2019."

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Statistic 11

"By 2025, the global kids’ smartwatch market is estimated to reach a value of $3.2 billion."

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Statistic 12

"The market share of premium-priced wristwatches ($5000+) was 13.8% in 2019."

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Statistic 13

"The U.S. watch market accounted for sales of approximately $8.8 billion in 2019."

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Statistic 14

"In 2019, India imported wristwatches worth $306.94 million, mainly from Switzerland, China, and Japan."

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The wristwatch industry continues to show steady growth and innovation, with the global market size reaching USD 62.8 billion in 2020 and projected to grow at a CAGR of 6.2% through 2028. Top brands like Apple, Rolex, and Swatch Group dominate sales, while mechanical watches and luxury timepieces hold significant market shares. The continued popularity of smartwatches and the dominance of iOS in the market point towards a tech-savvy consumer base. Key players like the United States, Switzerland, and India play vital roles in both production and consumption within the industry. As the market evolves, catering to specific demographics such as children and offering premium-priced options will be essential for sustained growth and competitiveness.

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