The revenue of the worldwide the second-hand luxury watches market was estimated to be worth approximately 2.7 million U.S. dollars in 2023. According to Statista estimates, this market is set to see a steep increase, reaching over 3.7 billion U.S. dollars by 2028.

 In 2024, Rolex was the largest player in the global luxury watch market with more than ********* retail market share in the luxury watch industry. Other well-known Swiss brands Cartier and Omega followed Rolex in the ranking with market shares of * percent and * percent, respectively. World capital of luxury watches   The concept of luxury watches is almost synonymous with Swiss watches. Renowned for their precision, quality and durability, watches from Switzerland are in high demand all around the globe. The domination of Swiss watches in the luxury watch market, which is a multi-billion-dollar industry, is further attested by the ranking of leading luxury watch brands based on their annual sales. The worldwide success of Swiss watch brands also plays an important role for the economy of Switzerland, as the country generated almost ** billion Swiss francs from the export of luxury watches in 2023.    Future of traditional watches  Even though Swiss watches are perceived, sold, and owned as luxury goods items, the future of traditional, analog watches may not be as bright as the economic figures indicate. In 2019, Apple Watch alone outperformed the entire Swiss watch industry, which could indicate a shift in consumer choices towards more digital options.

In 2024, the luxury watches market was valued at around 51 billion euros. This was significantly more than the value of the luxury jewelry market that year, which amounted to 31 billion euros worldwide.

Comparing the ten selected regions regarding the revenue in the 'Luxury Watches' segment of the luxury goods market, the United States is leading the ranking (12.6 billion U.S. dollars) and is followed by China with 12 billion U.S. dollars. At the other end of the spectrum is Singapore with 1.4 billion U.S. dollars, indicating a difference of 11.3 billion U.S. dollars to the United States. Find more statistics on other topics: a comparison of countries or regions regarding the revenue and a comparison of the revenue in Thailand. The Statista Market Insights cover a broad range of additional markets.

The revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market in Central & Western Europe was forecast to continuously increase between 2024 and 2029 by in total 2.7 billion U.S. dollars (+13.9 percent). After the seventh consecutive increasing year, the revenue is estimated to reach 22.2 billion U.S. dollars and therefore a new peak in 2029. Find more key insights for the revenue in countries like revenue concerning the sub-segment 'prestige fragrances' of the luxury goods market in Indonesia and the revenue concerning the sub-segment 'prestige cosmetics & fragrances' of the luxury goods market in Central & Western Europe.". The Statista Market Insights cover a broad range of additional markets.

The Rolex brand generated approximately 12 billion U.S. dollars in sales revenue in 2024, making it the leading luxury watch brand in the world. Richemont's Cartier brand was the second leading watch brand in terms of sales, however, there was a significant gap between Rolex and Cartier in second place. Luxury watches The global luxury watch market is a multi-billion U.S. dollar industry. Luxury watches are a combination of precision, quality, luxury, design, perfect workmanship and tradition, together with specialist technology. Swiss watches are synonymous with the term luxury, with many of the most famous watch brands in the world coming from Switzerland. A number of watch brands feature in the most valuable global luxury brands.

This statistic shows the market share of the leading Swiss watch companies worldwide in 2024. In 2024, Rolex had the largest share of the luxury watch market, with a 33.2 percent share of the global market. Swatch was the second biggest Swiss watch company, holding a 18.3 percent share of the market that year.

The global revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market was forecast to continuously increase between 2024 and 2029 by in total 43.4 billion U.S. dollars (+27.52 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 200.9 billion U.S. dollars and therefore a new peak in 2029. Find more in-depth information regarding the revenue concerning the prestige skin care segment of the luxury goods market worldwide and the revenue concerning the prestige fragrances segment of the luxury goods market in Indonesia. The Statista Market Insights cover a broad range of additional markets.

In 2024, around 8.4 million people in Germany owned luxury watches. Numbers generally increased annually during the specified timeline, eventhough they decreased this year.The Allensbach Market and Advertising Media Analysis (Allensbacher Markt- und Werbeträgeranalyse or AWA in German) determines attitudes, consumer habits and media usage of the population in Germany on a broad statistical basis.

The revenue of the second-hand market for luxury watches was the highest in Asia, with an estimated value of about 1.14 billion U.S. dollars in 2022. According to Statista estimates, Europe followed Asia, with a market revenue worth 415 million U.S. dollars for pre-owned luxury watches.

This statistic illustrates the market size of high-end watches in China from 2014 to 2018. In 2018, China's premium watch market size amounted to approximately 19.4 billion yuan, an increase from around 16 billion yuan in the previous year.

The revenue in the 'Luxury Watches' segment of the luxury goods market in the United Kingdom was forecast to continuously increase between 2024 and 2029 by in total 0.3 billion U.S. dollars (+10.53 percent). After the seventh consecutive increasing year, the revenue is estimated to reach 3.12 billion U.S. dollars and therefore a new peak in 2029. Find more key insights for the revenue in countries and regions like the revenue in the 'Luxury Watches & Jewelry' segment of the luxury goods market in Hong Kong and the average revenue per capita in the 'Luxury Leather Goods' segment of the luxury goods market in the Seychelles. The Statista Market Insights cover a broad range of additional markets.

Over the last two observations, the revenue is forecast to significantly increase in all segments. As part of the positive trend, the revenue reaches the maximum value for all two different segments at the end of the comparison period. Particularly noteworthy is the segment Luxury Watches, which has the highest value of 365.93 million U.S. dollars. Find further statistics on other topics such as a comparison of the average revenue per capita in Denmark and a comparison of the revenue in Italy. The Statista Market Insights cover a broad range of additional markets.

This statistic illustrates the annual growth rate of high-end watch market size in China from 2014 to 2018. In 2018, China's premium watch market size increased by almost 21 percent compared to the previous year.

Richard Mille watches were the most exclusive brand of luxury watches in terms of price in 2018. That year, the average retail price of a Richard Mille luxury watch was approximately 141,171 U.S. dollars. The second most expensive luxury watch brand was Patrek Philippe, whose watches retailed at an average price of over 54 thousand U.S. dollars. There was a significant gap in the average price of Richard Mille, Patek Philippe and Audemars Piguet watches when compared to the rest of the leading luxury watch brands.

Luxury watches
The global luxury watch market is a multi-billion U.S. dollar industry. Luxury watches are a combination of precision, quality, luxury, design, perfect workmanship and tradition, together with specialist technology. Swiss watches are synonymous with the term luxury, with many of the most famous watch brands in the world coming from Switzerland. A number of watch brands feature in the list of most valuable global luxury brands. Rolex received the highest number of searches of any luxury watch brand in a number of major watch markets in 2018.

According to the results of a survey ran during the first quarter of 2024 among affluent and high net worth individuals, around one in five respondents aged between 18 and 39 in North America had made multiple purchases of luxury watches over the past year. In addition, 58 percent of persons in this age group made a single luxury watch purchase in the same time period. These figures were lower in the older age group.

According to Statista estimates, shared luxury watch market in the United States constituted approximately 3.41 percent of the traditional luxury watches market in 2020. Share of this market over traditional market is forecast to increase continuously in the next five years, reaching to about 4.66 percent in 2025.

The statistic shows which marketing strategies are the most important to luxury watch brands worldwide in 2017. The survey revealed that watch executives believe social media is the most important marketing strategy for luxury watch brands in 2017, scoring it 7.8 on a 10 point scale.

The graph shows preferred sales and marketing strategies for luxury watch brands worldwide in 2017. The survey revealed that 64 percent of respondents feel that introducing new products is a top priority.

It is forecasted that the value of the luxury watches market in Poland will increase by 11 million zloty in 2019, which means a slowdown in the growth dynamics of this category of products. The average annual growth over the next five years is estimated at 2.8 percent. Luxury watches for men account for 78 percent of the value of the whole luxury watches category.