The United States watch market size reached USD 15.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 26.8 Billion by 2033, exhibiting a growth rate (CAGR) of 6.2% during 2025-2033. The increasing demand for luxury and premium watches, rising adoption of smartwatches and wearable technology, and rapid expansion of e-commerce platforms for watch sales represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 15.2 Billion
Market Forecast in 2033	USD 26.8 Billion
Market Growth Rate (2025-2033)	6.2%

IMARC Group provides an analysis of the key trends in each segment of the United States watch market report, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, price range, distribution channel, and end user.

USD 15.93 Billion in 2024; projected USD 37.22 Billion by 2033; CAGR 9.94%.

The United States luxury watch market was valued at USD 8.11 Billion in 2024. The industry is expected to grow at a CAGR of 4.50% during the forecast period of 2025-2034 to attain a valuation of USD 12.59 Billion by 2034.

According to Statista estimates, shared luxury watch market in the United States constituted approximately **** 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 **** percent in 2025.

Luxury Watch Market Analysis | Industry Forecast, Size & Report Insights

Dataset updated: Jun 27, 2024

Dataset authored and provided by: Mordor Intelligence

License: https://www.mordorintelligence.com/privacy-policy

Time period covered: 2019 - 2029

Area covered: Global

Variables measured: CAGR, Market size, Market share analysis, Global trends, Industry forecast

Description: The Luxury Watch Market size is estimated at USD 51.31 billion in 2024, and is expected to reach USD 68.17 billion by 2029, growing at a CAGR of 5.84% during the forecast period (2024-2029)

Quantitative Units: Revenue in USD Billion, Volumes in Units, Pricing in USD

Regions and Countries Covered (from Scope of Report):

• North America: United States, Canada, Mexico, Rest of North America
• Europe: Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe
• Asia-Pacific: India, China, Australia, Japan, Rest of Asia-Pacific
• South America: Brazil, Argentina, Rest of South America
• Middle East & Africa: United Arab Emirates, South Africa, Rest of Middle East & Africa

Industry Segmentation Covered (from Scope of Report):

Type: Quartz or Mechanical Watch, Digital Watch

End User: Women, Men, Unisex

Distribution Channel: Online Retail Stores, Offline Retail Stores

Market Players Covered: Rolex SA, The Swatch Group Ltd, Compagnie Financiere Richemont SA, Patek Philippe SA, and Audemars Piguet.

Market Estimates and Report Statistics

Report Attribute	Key Statistics
Study Period	2019-2029
Market Size (2024)	USD 51.31 Billion
Market Size (2029)	USD 68.17 Billion
CAGR (2024 - 2029)	5.84%
Fastest Growing Market	South America
Largest Market	Asia Pacific

By Product Type

Product Type	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Quartz/ Mechanical Luxury Watches	2019 to 2029	x%
Digital Luxury Watches	2019 to 2029	x%
Total	2019 to 2029	5.84%

By End User

End User	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Men’s Luxury Watches	2019-2029	x%
Women’s Luxury Watches	2019-2029	x%
Unisex Luxury Watches	2019-2029	6.90%
Total	2019-2029	x%

By Distribution Channel

Distribution Channel	Market Size Data Available from	CAGR % (2024-2029), Revenue in USD Million
Offline Retail Stores	2019-2029	4.13%
Online Retail Stores	2019-2029	x%
Total	2019-2029	x%

Luxury Watch Sales by Region

Region	Study Period	CAGR % (2024-2029), Revenue in USD Million
North America	2019-2029	x%
Europe	2019-2029	x%
Asia Pacific	2019-2029	x%
South America	2019-2029	x%
Middle East & Africa	2019-2029	x%
Total	2019-2029	5.84%

Snapshot img

Watch Market Size 2025-2029

The watch market size is valued to increase by USD 8.01 billion, at a CAGR of 2.1% from 2024 to 2029. Rising demand for premium watches will drive the watch market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 52% growth during the forecast period.
By Product - Quartz segment was valued at USD 44.11 billion in 2023
By Distribution Channel - Offline segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 17.16 billion
Market Future Opportunities: USD 8.01 billion
CAGR from 2024 to 2029 : 2.1%

Market Summary

The market is experiencing a significant surge in demand for premium timepieces, fueled by consumers' desire for luxury and status symbols. This trend is driven by various factors, including increasing disposable income, cultural significance, and the growing popularity of fashion and lifestyle trends. According to a recent study, the market was valued at over USD 80 billion in 2020, indicating a steady growth trajectory. companies are adapting to this evolving landscape by engaging with customers through social media and other entertainment channels. This approach not only helps build brand awareness but also fosters a sense of community among watch enthusiasts.
However, the market is not without challenges. The presence of counterfeit products continues to pose a significant threat, with an estimated 15% of the market consisting of counterfeit items. Despite these challenges, the future of the market looks promising, with innovation and technology playing a pivotal role. Smartwatches, for instance, are gaining popularity due to their functionalities beyond timekeeping. The integration of health monitoring features, contactless payment systems, and other advanced technologies is expected to further boost demand. In conclusion, the market is a dynamic and evolving industry, driven by consumer demand, company innovation, and the challenges of counterfeit products.
With a global market value exceeding USD80 billion, it continues to be an attractive business proposition for players in the luxury and technology sectors.

What will be the Size of the Watch Market during the forecast period?

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How is the Watch Market Segmented?

The watch industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Quartz
  Mechanical


Distribution Channel

  Offline
  Online


Price Range

  Low Range
  Mid-range
  Luxury


End-User

  Women
  Men
  Unisex


Type

  Analog Watches
  Digital Watches
  Smartwatches
  Hybrid Watches


Material

  Stainless Steel
  Leather
  Rubber/Silicone
  Precious Metals (Gold, Platinum)


Application

  Fashion
  Sports/Fitness
  Everyday Use
  Collectible/Investment


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Product Insights

The quartz segment is estimated to witness significant growth during the forecast period.

The market continues to evolve, with the quartz segment accounting for a significant share due to its affordability and wide availability. Quartz watches, which include both digital and analog models, are offered by major brands such as Casio, Citizen, and Fossil. Analog quartz watches, in particular, dominate the market, catering to diverse styles, price ranges, and consumer preferences. The quartz segment's growth is driven by fashion trends and the increasing disposable income of consumers worldwide. Precision agriculture technologies, such as water use efficiency and soil nutrient cycling, are revolutionizing farming practices, leading to improvements in vegetable quality, soil health, and nutrient availability.

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The Quartz segment was valued at USD 44.11 billion in 2019 and showed a gradual increase during the forecast period.

The use of microbial inoculants, root development promoters, and plant growth regulators has increased by 20% in the last five years. These advancements contribute to enhanced nutrient uptake, carbon sequestration, and fruit quality improvement. The market's future growth is also influenced by the adoption of sustainable agriculture practices, including pest resistance increase, photosynthesis enhancement, and water retention capacity, which promote farming efficiency improvements and nitrogen use efficiency. Biotic and abiotic stress mitigation, plant metabolism optimization, and biocontrol agents are other crucial areas of focus for market expansion.

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Regional Analysi

The North America luxury watch market was valued at USD 9.01 Billion in 2024. The industry is expected to grow at a CAGR of 3.70% during the forecast period of 2025-2034 to attain a valuation of USD 12.96 Billion by 2034.

The North America E-Commerce Watch Market Report is Segmented by Product Type (Quartz/Mechanical and Digital Watch), Category (Mass and Premium), End User (Men, Women, and Unisex), Platform Type (Third-Party Marketplace and Company-Owned Platform), and Geography (United States, Canada, Mexico, and Rest of North America). The Market Forecasts are Provided in Terms of Value (USD).

In 2023, the U.S. jewelry and watch market was valued at approximately ** billion U.S. dollars, a *** billion dollar decrease compared to the previous year. In 2024, the market value remained unaltered.

Discover the latest market trends for watches in the United States over the next decade. Anticipated growth in both market volume and value, driven by rising demand, is projected to bring the market to 153M units and $8.1B by 2035.

USD 6234.44 Million in 2024; projected USD 14472.32 Million by 2033; CAGR 9.86%.

In 2024, the United States ranked first by revenue in the 'Luxury Watches' segment of the luxury goods market among the 10 countries presented in the ranking. United States' revenue amounted to ************* U.S. dollars, while China and Japan, the second and third countries, had records amounting to ************ U.S. dollars and ************ U.S. dollars, respectively.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Luxury Watches.

Pre-Owned Luxury Watch Market size is expected to be worth around USD 63.7 Billion by 2034, from USD 24.9 Billion in 2024, at a CAGR of 9.9%

Access North America Wrist Watch Industry Overview which includes North America country analysis of (United States, Canada, Mexico), market split by Products, End Use, Material, Distribution Channel, Functionality, Age Group

The Watch Market Report is Segmented by Product Type (Quartz/Mechanical and Digital Watch), Category (Mass and Premium), End User (Men, Women, and Unisex), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores and More), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

The North America Smart Watch Market is Segmented by Operating System (watchOS, Wear OS, and More), Display Type (AMOLED, and More), Application (Personal Assistance, and More), Connectivity (Bluetooth Only, and More), Price Range (≤USD 199, and More), Distribution Channel (Online Native and Omni-Channel Retail), End-User Demographic (15-34 Years, and More), and Country. The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

Luxury Watch Market Size 2025-2029

The luxury watch market size is valued to increase USD 4.71 billion, at a CAGR of 2.4% from 2024 to 2029. Premiumization through luxury watch design and innovation will drive the luxury watch market.

Major Market Trends & Insights

Europe dominated the market and accounted for a 33% growth during the forecast period.
By End-user - Men segment was valued at USD 22.87 billion in 2023
By Distribution Channel - Offline segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 15.41 billion
Market Future Opportunities: USD 4708.80 billion
CAGR : 2.4%
Europe: Largest market in 2023

Market Summary

The market represents a dynamic and evolving industry, characterized by continuous innovation and consumer demand for premium timepieces. Core technologies, such as mechanical movements and smartwatch features, are driving advancements in watch design and functionality. Meanwhile, applications span from fashion accessories to high-performance sports and professional tools. Service types include repair and maintenance, customization, and personalization services. Regions like Europe and Asia-Pacific dominate the market, with Europe holding a significant market share of approximately 45% due to the presence of luxury watch giants like Swatch Group and Richemont.
However, the market faces challenges such as increased availability of counterfeit products, which threaten brand reputation and consumer trust. Despite these challenges, opportunities for growth remain, particularly in the realm of premiumization through luxury watch design and innovation, and the growing demand for customized luxury watches.

What will be the Size of the Luxury Watch Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Luxury Watch Market Segmented and what are the key trends of market segmentation?

The luxury watch industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Men
  Women


Distribution Channel

  Offline
  Online


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By End-user Insights

The men segment is estimated to witness significant growth during the forecast period.

Luxury watches for men represent a substantial sector within the global watch market, renowned for their meticulous craftsmanship, advanced precision, and enduring aesthetics. The market's expansion is fueled by continuous innovation and new product introductions from various industry players. For example, Hermes International SA launched the Two-Tone H08 Watch in January 2023, combining rose gold and titanium materials. Customization and personalization are driving forces behind the market's growth. companies catering to the affordable luxury watch segment are witnessing increased revenue as a result. Precision timekeeping remains a key focus, with minute repeaters and grand complications continuing to captivate consumers.

Manufacturers employ various materials for watch cases, including precious metals and sapphire crystal glass, ensuring water resistance ratings of up to 100 meters. Mechanical movements, hand-finished components, and dial design elements are meticulously crafted, while anti-magnetic shielding, automatic winding, and high-frequency oscillators ensure unparalleled accuracy. Watch straps are made from diverse materials such as leather, rubber, and metal, while gem setting techniques add an extra touch of elegance. Complication watches, including tourbillon escapements, perpetual calendars, and annual calendars, cater to the demand for sophisticated timekeeping solutions. Swiss watchmaking continues to dominate the market, with its mechanical movements and hand-finished components synonymous with quality and craftsmanship.

Innovations like lever escapements, jewelled bearings, shock absorption systems, and power reserve indicators further enhance the appeal of luxury watches. Market trends also include the integration of watch repair services, date complications, and balance spring designs. The market is expected to witness significant growth, with a 15% increase in sales forecasted for the next year. Additionally, there is a growing demand for moon phase complications and luxury watch bands, further expanding market opportunities.

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The Men segment was valued at USD 22.87 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

Europe is estimated to contribute 33% to the growth of the global marke

The watch market in the United States is expected to experience a steady increase in demand over the next decade, with a projected CAGR of +0.4% in market volume and +1.6% in market value from 2024 to 2035. By the end of 2035, the market volume is estimated to reach 129M units and the market value to reach $8.9B.

Learn about the expected growth in the United States watch market over the next decade, with a forecasted increase in market volume to 153M units and market value to $8.1B by 2035.

Volatile economic conditions have impacted jewelry and watch wholesalers in recent years. Elevated economic uncertainty, including weaker disposable income, growing unemployment and high consumer uncertainty, makes consumers more likely to postpone big-ticket purchases, including jewelry. Similarly, rising inflation placed downward pressure on consumers’ disposable income, further discouraging premium purchases. These unfavorable macroeconomic conditions have caused sales volume to weaken, although rising commodity prices have offset many of these losses. When economic conditions are uncertain, many consumers and investors aim to protect their resources through safe haven investments, such as purchasing valuable metals like gold and silver. This jump in demand led to skyrocketing metal prices, making jewelry more expensive to buyers. As a result, these rising costs have pushed distributors to charge higher prices, supporting revenue gains. However, many wholesalers have been unable to entirely pass down cost increases to customers, resulting in shrinking profit. Revenue is set to climb at an estimated CAGR of 3.4% to $59.0 billion through the end of 2025, including a 0.1% loss that year alone. Distributors have largely benefited from the globalized nature of the industry, with importing wholesalers strongly contributing to the jewelry supply chain. Distributors carrying imported pieces have also benefited from a strong dollar, making imported pieces comparatively more affordable. Despite this, disrupted supply chains, tariffs on imported goods and sanctions on conflict inputs continue to push purchase costs higher. The ongoing economic recovery is likely to benefit wholesalers. As disposable income rises and consumers become more confident about the future of the economy, demand for new jewelry and watches is forecast to continue climbing. Similarly, stabilizing economic conditions are forecast to result in falling precious metal prices, which, in turn, will lower jewelry prices and support revenue gains. During this time, distributors will curate their product offerings to appeal to growing markets, including consumers looking for more sustainable or affordable alternatives. These trends will cause revenue to strengthen at an estimated CAGR of 1.4% to $63.1 billion through 2030.