The India Watch Market Report is Segmented by Product Type (Quartz/Analog Watches, Digital Watches, Smartwatches), End User (Men, Women, Kids), Category (Premium, Mass), Distribution Channel (Online Retail Stores, Offline Retail Stores). The Market Forecasts are Provided in Terms of Value (USD).

The size of the Watch Industry in India market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 20.32% during the forecast period. The watch industry is a dynamic and diverse sector, encompassing luxury, mid-tier, and budget timepieces that cater to a global market. Rooted in a rich history of craftsmanship, the industry blends traditional watchmaking skills with modern technology and materials. Swiss brands dominate the luxury segment, renowned for their precision, innovation, and heritage, with other countries like Japan and Germany also playing significant roles in the industry’s mid-tier and affordable segments. Mechanical watches, often prized for their intricacy and artistry, coexist with quartz and, increasingly, smartwatches, which appeal to a tech-savvy audience. Smartwatches have disrupted the market in recent years, capturing a significant share by integrating features like fitness tracking, connectivity, and customization, which resonate with modern lifestyles. However, luxury mechanical watches continue to hold a strong, aspirational appeal, often viewed as timeless pieces of wearable art and status symbols. Sustainability is emerging as an essential focus, with brands exploring eco-friendly materials and responsible sourcing practices to meet the growing demand for ethical products. Digital sales channels and direct-to-consumer strategies have also become crucial as brands respond to shifting consumer habits and preferences. Overall, the watch industry continues to evolve, balancing tradition with innovation to meet the diverse expectations of a global clientele. Recent developments include: In September 2022, BBK Electronics Corporation subsidiary OnePlus announced the launch of its smartwatch series 'Nord' in India. The OnePlus Nord Watch has a 1.78-inch AMOLED display with a refresh rate of 60Hz. It boasts a peak brightness of 500 nits. The smartwatch features 105 different sports modes. The device's key features are monitoring blood level, stress, and heart rate., In September 2022, BBK Electronics Corporation subsidiary Realme launched the Realme Watch 3 Pro in India. The watch was launched on September 6th via retail channels like Flipkart and other Realme India Channels., In December 2021, Titan launched its new smartwatch with best-in-class features by introducing various products backed by powerful tech features. It has long been expected to expand into the arena of smartwatches in Bangalore and Karnataka.. Key drivers for this market are: Increasing Popularity of Snus as Harmless Cigerette Substitute, Availability of Variety of Flavors. Potential restraints include: Stringent Government Regulations in Some Countries, Risks Associated with Over Consumption of Snus. Notable trends are: Consumer Inclination Toward Luxury Watches.

In 2024, after three years of growth, there was significant decline in the Indian watch market, when its value decreased by -22.8% to $11.9B. Overall, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market reached the peak level at $15.4B in 2023, and then contracted dramatically in the following year.

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

USD 2.05 Billion in 2024; projected USD 4.79 Billion by 2033; CAGR 9.95%.

The Indian luxury watch market is valued at 10.7 billion USD in 2025 and is projected to grow at a CAGR of 1.20% during the forecast period 2025-2033. The market is driven by factors such as increasing disposable income, rising number of affluent individuals, and growing awareness about luxury brands. The trend towards digitalization has also led to a shift in consumer preference towards smartwatches and other technologically advanced timepieces. Key segments of the Indian luxury watch market include type (analog and digital watches), end user (women, men, and unisex), and distribution channel (online and offline stores). Major players in the market include The Tata Group (Titan Group), Casio Computer Co. Ltd, The Swatch Group Ltd., Seiko Holding Corporation, Fossil Group Inc., Timex Group B.V., Citizen Watch Co. Ltd, BBK Electronics Corporation, Samsung Group, Apple Inc., and Xiaomi Corporation. The market is fragmented, with a large number of domestic and international brands competing for market share. Recent developments include: , September 2022: The Indian debut of OnePlus's "Nord" smartwatch series was announced by the subsidiary of BBK Electronics Corporation. A 1.78-inch AMOLED screen with a 60Hz refresh rate is featured on the OnePlus Nord Watch. It has 500 nits of peak brightness. The wristwatch has 105 distinct sports modes. Monitoring blood pressure, stress, and heart rate are among the device's primary functions., September 2022: Realme, a subsidiary of BBK Electronics Corporation, introduced the Realme Watch 3 Pro in India. On September 6th, the watch was made available for purchase through Flipkart and other Realme India retailers., December 2021: Titan introduced a number of goods with robust tech features to support the debut of its new smartwatch, which boasts best-in-class capabilities. It has long been anticipated that Bangalore and Karnataka will see its entry into the smartwatch market., Luxury Watch Market Segmentation. Notable trends are: Increasing the Propensity of Consumers for Luxury Watches is driving the market growth..

The India traditional and connected watches market attained a value of USD 6.78 Billion in 2024 and is projected to expand at a CAGR of around 5.30% through 2034. The growth is fueled by growing smartphone penetration, growing health consciousness, and digital lifestyle changes, thus pushing the market to a value of USD 11.36 Billion by 2034.

Spending on local manufacturing and innovation is strongly propelling the India traditional and connected watches market. Titan, for example, has invested heavily in creating smartwatches designed for Indian customers by launching several models in 2024–2025. Apple has ramped up marketing activities and store expansion in major city locations such as Mumbai and Bengaluru, thereby boosting the growth of India traditional and connected watches market.

In addition, increased disposable incomes and urbanization keep driving the consumption of these watches. According to the World Bank, India's urban population exceeded 500 million in 2024, boosting demand for technology-enabled products. At the same time, the rapid evolution of online retail, expected to cross USD 100 billion by 2026 as per IBEF, has opened up opportunities for the watch brands to expand to tier 2 and tier 3 cities. Internet-based e-commerce websites now function as important conduits to reach digitally engaged, value-driven consumers, speeding market penetration.

The India traditional and connected watches market is an evolving space which brings together traditional watches along with the rise in smart wearable technology. The market's relevance comes from India's expanding middle class, rising disposable income, and growing tech-awareness among millennials and Gen Z users. Traditional watches remain popular among luxury and fashion buyers, while connected watches (hybrid and smart) address health, fitness, and productivity requirements.

Growing smartphone penetration and the need for timely notifications have boosted smartwatch adoption. Moreover, the convergence of IoT and AI capabilities in connected watches is reshaping customer expectations. Government schemes inducing "Make in India" and digital consumption drive domestic manufacturing and innovation further. The growth in the e-commerce ecosystem and increased brand partnerships with Indian celebrities have enhanced market visibility and accessibility. Overall, the India traditional and connected watches market is well poised for strong growth as consumers increasingly look for multi-functional and fashionable wristwear, making it an important market for both global and local players.

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

By Product Type

By End User

By Distribution Channel

Luxury Watch Sales by Region

Rising disposable incomes, altering fashion trends, and lifestyle shifts have all contributed to sustained growth in India's watch market. Analog watches continue to dominate the market, accounting for more than 70%, while smartwatches are expanding at a rate of more than 20% per year. The market is divided into three categories: luxury, mid-range, and budget, providing a variety of options for buyers from all socioeconomic backgrounds. This is likely to enable the market size to surpass USD 1.6 Billion valued in 2024 to reach a valuation of around USD 2.8 Billion by 2032. Smartwatches are revolutionizing the Indian watch business, with a projected CAGR of 23% between 2023 and 2030, driven by health-conscious customers and advanced technology. The segment is dominated by names such as Titan, Fossil, and Apple, but it also benefits from low-cost products from local businesses. The rising demand for India Watch is enabling the market to grow at a CAGR of 24.10% from 2025 to 2032.

USD 1192.91 Million in 2024; projected USD 2715.46 Million by 2033; CAGR 9.67%.

Noise (Nexxbase) accounted for around ** percent in the Indian smartwatch market in 2024. The second place was occupied by Fire-Boltt with around ** percent of the market share.

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?

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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

In 2024, after three years of growth, there was significant decline in the Indian precious metal watch market, when its value decreased by -15.3% to $288M. In general, consumption, however, continues to indicate resilient growth. Over the period under review, the market hit record highs at $340M in 2023, and then declined markedly in the following year.

The global luxury watch market size was estimated at USD 47.91 billion in 2025 and is anticipated to grow from USD 51.05 billion in 2026 till USD 87.11 billion by 2034, growing at a CAGR of 6.9% from 2026-2034.
Report Scope:

The Smartwatch Market size was valued at USD 29.31 USD Billion in 2023 and is projected to reach USD 78.54 USD Billion by 2032, exhibiting a CAGR of 15.12 % during the forecast period. Recent developments include: September 2022 - Apple Inc., an U.S. technology company, launched its new series of smartwatches, ‘Series 8 and Apple Watch SE’ with innovative health benefit features and advanced technology., August 2022 – Samsung Electronics, a consumer electronics company, based in South Korea, announced the launch of their new smartwatch series, ‘Galaxy Watch5 and Galaxy Watch5 Pro’, equipped with advanced and smart features, suitable for tracking health and wellness habits., August 2022 - Fitbit LLC, an American consumer electronics company, released a set of smartwatches, ‘Fitbit Sense 2’. The solution is equipped with sensors to track stress, heart health, and other health fitness features., August 2022 – boAt, an India-based manufacturer of wearables products, launched its new range of smartwatches, ‘Watch Xtend Pro and Wave Call’, in-built with several advanced features, including speaker, calling tool, sports modes, HD display, and others., January 2022 – Garmin Ltd., an American-based technology company, announced the launch of two new smartwatch series, Venu 2 Plus and Vivomove Sport.. Key drivers for this market are: Growing Popularity of Fitness among Youth and Urban Population to Reinforce Market Progression . Potential restraints include: Presence of Substitute Products to Restrain Market Growth. Notable trends are: Shifting Focus of Key Brands toward Kids to Spike the Development.

Forecast: Clocks or Watch Parts Market Size Value Per Capita in India 2022 - 2026 Discover more data with ReportLinker!

After three years of growth, the Indian market for plastic or non-precious metal watches decreased by -32.2% to $4.9B in 2024. Over the period under review, consumption, however, enjoyed a strong increase. Plastic or non-precious metal watch consumption peaked at $7.3B in 2023, and then dropped dramatically in the following year.

In fiscal year 2020, jewelry and watches contributed **** percent to the e-commerce market share in India. The share of jewelry and watches in this market is likely to increase to ***** percent in the financial year 2025.

APAC luxury watch market is valued at USD 22 Bn, driven by rising disposable incomes, affluent consumers, and demand for high-end timepieces in China, Japan, and India.

Luxury Watch Market Outlook

According to our latest research, the global luxury watch market size reached USD 49.2 billion in 2024, driven by robust demand across both developed and emerging economies. The market is projected to expand at a CAGR of 6.5% from 2025 to 2033, reaching a forecasted value of USD 86.2 billion by 2033. This growth is primarily fueled by increasing disposable incomes, evolving consumer preferences for premium and exclusive products, and the rising prominence of luxury watches as status symbols and investment pieces.

One of the primary growth factors propelling the luxury watch market is the surging demand for high-end timepieces among affluent consumers globally. The desire for exclusivity, craftsmanship, and heritage has made luxury watches a coveted accessory, especially among the rising middle and upper classes in emerging markets such as China, India, and Southeast Asia. The market is further benefitting from the growing trend of watch collecting, where enthusiasts and investors seek limited-edition pieces, vintage models, and collaboration watches, thereby driving up both primary and secondary market values. Additionally, luxury watch brands are increasingly leveraging storytelling, heritage, and brand legacy to connect with consumers on an emotional level, further cementing their demand.

Digital transformation is another significant driver of growth in the luxury watch market. Brands are adopting omnichannel retail strategies, enhancing their online presence, and engaging consumers through immersive digital experiences, including virtual boutiques and augmented reality try-ons. The rise of online retail channels has democratized access to luxury watches, allowing brands to reach a broader audience while maintaining exclusivity through limited online releases and personalized digital services. Furthermore, social media influencers and celebrity endorsements have played a pivotal role in shaping consumer perceptions and aspirations, particularly among younger demographics who are increasingly entering the luxury market.

Sustainability and innovation are also shaping the future trajectory of the luxury watch industry. Consumers, especially millennials and Generation Z, are placing greater emphasis on ethical sourcing, sustainable materials, and transparent supply chains. In response, leading watchmakers are introducing eco-friendly collections, utilizing recycled metals, and adopting responsible manufacturing practices. At the same time, technological advancements, such as the integration of smart features in luxury watches and the use of cutting-edge materials like ceramics and carbon composites, are expanding the marketÂ’s appeal to tech-savvy and style-conscious buyers alike.

Regionally, Europe remains the epicenter of the luxury watch market, accounting for the largest share due to the presence of iconic Swiss watchmakers and a deeply ingrained culture of horology. However, the Asia Pacific region is witnessing the fastest growth, with China, Japan, and India emerging as key markets. North America also represents a significant market, driven by high brand awareness and a strong appetite for luxury goods. The Middle East and Latin America are gradually gaining prominence, supported by increasing wealth and a growing appreciation for luxury craftsmanship. Overall, the global luxury watch market is poised for sustained expansion, underpinned by innovation, evolving consumer values, and expanding geographic reach.

The concept of a Certified Pre-Owned Luxury Watch is gaining traction in the market, offering consumers a unique blend of value and assurance. These watches, often meticulously inspected and refurbished by the original manufacturers or authorized dealers, provide an attractive option for buyers seeking the prestige of luxury timepieces without the premium price tag of brand-new models. This segment is particularly appealing to collectors and enthusiasts who appreciate the craftsmanship and history associated with pre-owned watches, as well as to environmentally-conscious consumers who value sustainability through reuse. Certified pre-owned programs also help brands maintain control over their secondary market presence, ensuring authenticity and preserving brand integrity.