Luxury Watch Market Report 2025

The luxury watch market size has grown strongly in recent years. It will grow from $31.58 billion in 2024 to $33.17 billion in 2025 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the growing e-commerce industry, the rise in the proportion of women with high incomes, and the increasing international trade activities.

The luxury watch market size is expected to see strong growth in the next few years. It will grow to $42.39 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the increasing urbanization, the rising use of the Internet and social media platforms, and the increasing export of Swiss watches. Major trends in the forecast period include technological advancements, the introduction of luxury smartwatches, the introduction of AI (artificial intelligence), product innovations, and strategic partnerships and collaborations.

The increasing consumer preference for high-quality, premium watches in the luxury goods sector is anticipated to drive the growth of the luxury watch market. This trend reflects the abstract preferences of individual buyers, assessed by their satisfaction with products after purchase, often expressed as utility. Consumer value is influenced by how utility compares among various products. The rise in the luxury watch market is fueled by individuals' desire for high-end watches, spurred by rising disposable incomes and a tendency among adults to wear expensive luxury watches as a social statement of identity, particularly in developing countries. For instance, in May 2023, a Netherlands-based company in the web portals industry reported that the United States emerged as the largest market for Swiss watches in 2022, with a remarkable growth of 26.3% compared to the previous year. Consequently, the growing consumer preference for high-quality, premium watches in the luxury goods industry is driving the luxury watch market.

The trajectory of the luxury watch market is expected to be positively influenced by the increasing use of the internet and social media platforms. Social media platforms, which operate through the internet, provide a means for users to engage in conversations, share information, and create content. Leveraging social media platforms effectively becomes a powerful strategy for showcasing the aesthetic appeal of luxury watches. Through digital advertising, luxury watch brands can dominate the market without geographical constraints. For instance, data from Meltwater, a Netherlands-based software company, indicates a growth of 224 thousand internet users in the UK between 2022 and 2023, reaching a total of 66.11 million internet users. Additionally, there are 35 million LinkedIn members and 28.75 million Instagram users in the UK. LinkedIn's potential ad reach in the UK increased by 2.9% between 2022 and 2023. Hence, the increasing use of the internet and social media platforms is expected to drive the growth of the luxury watch market.

Product innovations are emerging as a significant trend in the luxury watch market, with major companies focusing on developing new offerings to meet evolving customer demands. For instance, in September 2024, Titan Company, an India-based watchmaker, announced the launch of 10 new international watch brands under its Helios brand. This collection includes a range of premium brands such as Tommy Hilfiger, Tissot, Swarovski, Fossil, and Frederique Constant. Priced between ₹5,000 and ₹1,00,000, the timepieces cater to diverse consumer preferences and are renowned for their exceptional craftsmanship, stylish designs, and advanced features, making them suitable for both everyday wear and special occasions. To enhance its market presence, Titan plans to introduce these new brands and open 50 additional Helios stores within the next year, aiming to strengthen its position in the luxury watch sector.

Leading companies in the luxury watch market are actively adopting new technologies and creating innovative product solutions to enhance their market position. In January 2023, Omega, a Switzerland-based luxury watch manufacturer, introduced the Spirate System, a technology promising 0/+2 second accuracy per day. This innovation includes a novel hairspring allowing precise control and features a fine tuner on top of the entire balancing bridge, facilitating easy adjustment in increments of 0.01 seconds. The Speed Master Super Racing, showcasing this groundbreaking mechanism, is a new addition to Omega's watch collection.

In August 2024, Chanel, a UK-based luxury fashion company, acquired MB&F for an undisclosed amount. This strategic acquisition enhances Chanel's footprint in the luxury watch industry and complements its portfolio of exclusive, high-end offerings. MB&F, based in Switzerland, is renowned for its innovative and artistic approach to watchmaking, specializing in luxury watches and clocks that combine avant-garde design with traditional craftsmanship. This move reflects Chanel's commitment to expanding its luxury watch segment and tapping into the growing demand for unique, high-quality timepieces in the market.

Major companies operating in the luxury watch market include Rolex SA, Apple Inc, Compagnie Financiere Richemont SA, The Swatch Group Ltd, LVMH, Kering Group, Fossil Group Inc, Citizen Watch Co. Ltd, Hermes International SA, Movado Group Inc, Corum, Jaeger-LeCoultre, IWC, Seagull watch, Beijing, Shanghai, FIYTA, Memorigin, Peacock Watches, Longio watches, Tian Wang, Montres NORQAIN SA, Bell and Ross, Ethos Watches, Girard-Perregaux SA, Ulysse Nardin SA, Watches of Switzerland, Copernicus Watch SP, Polpora Manufaktura, Tiffany & Co., Vortic, DuFrane, Weiss Watch Company, RGM, VAER, Shinola, Pelton, Kobold, Lange Söhne, International Time Group S. A., SEIKO Watch of America LLC, Audemars Piguet, Omega, Vacheron Constantin, Cartier, Chopard, Hublot, Breitling, Breguet, Franck Muller, Patek Philippe.

Western Europe was the largest region in the luxury watch market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury watch market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the luxury watch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

A luxury watch is an exceptionally high-quality timepiece that is meticulously crafted, typically commanding a premium price, and is classified as a luxury item. These watches are powered by manual and self-winding (automatic) movements, with certain components of the movement being handmade. This manual craftsmanship signifies a higher production cost compared to industrially manufactured quartz watches.

The main types of luxury watches are digital watches and analog watches. A digital watch displays the time in numerical digits rather than using hands on a dial. Various distribution channels, including online platforms, single-brand stores, and multi-brand stores, cater to men, women, and unisex consumers.

The luxury watches market research report is one of a series of new reports that provides luxury watches market statistics, including luxury watches industry global market size, regional shares, competitors with luxury watches market share, detailed luxury watches market segments, market trends, and opportunities, and any further data you may need to thrive in the luxury watches industry. This luxury watches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The luxury watch market consists of sales of smart watches, dress watches, quartz watches, field watches, chronograph watches and Swiss watches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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