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Watch Industry Statistics

Global and Swiss watch markets grow, while smartwatches surge, reaching billions.

At $73.94 billion in 2024 and projected to hit $110.90 billion by 2030, the watch industry is entering a bold new era where traditional luxury, analog and digital timepieces now compete head to head with a fast-growing smart watch and wearable ecosystem.

Alexander EserWritten byAlexander EserCo-Founder, Rawshot.ai
UpdatedApril 19, 2026Read11 minSources24 verified
Watch Industry Statistics

Executive Summary

Key Takeaways

Research reviewed

Global and Swiss watch markets grow, while smartwatches surge, reaching billions.

  • The global watch market was valued at USD 73.94 billion in 2024

  • The global watch market is expected to reach USD 110.90 billion by 2030

  • The global watch market is expected to grow at a CAGR of 6.6% from 2025 to 2030

  • Swiss watch exports totaled CHF 26.7 billion in 2023

  • Swiss watch exports increased by 7.6% in 2023

  • Swiss watch exports reached CHF 2.4 billion in December 2023

  • The Apple Watch shipped 53.9 million units in 2022

  • Apple's global smartwatch shipments were 50.7 million units in 2021

  • Apple Watch shipments totaled 43.2 million units in 2020

  • The pre-owned luxury watch market was worth $24 billion in 2023

  • The pre-owned luxury watch market could reach $35 billion by 2030

  • Online sales accounted for 23% of Swiss watch sales in 2023

  • Switzerland exported 13.95 million wristwatches in 2023

  • The value of Swiss wristwatch exports in 2023 was CHF 25.99 billion

  • Switzerland exported 16.93 million electronic watches in 2023

Section 01

Market Size & Forecasts

  1. The global watch market was valued at USD 73.94 billion in 2024 [1]

  2. The global watch market is expected to reach USD 110.90 billion by 2030 [1]

  3. The global watch market is expected to grow at a CAGR of 6.6% from 2025 to 2030 [1]

  4. The global luxury watch market size was valued at USD 42.75 billion in 2022 [2]

  5. The global luxury watch market is projected to reach USD 72.72 billion by 2030 [2]

  6. The global luxury watch market is projected to grow at a CAGR of 6.9% from 2023 to 2030 [2]

  7. The global smartwatch market size was estimated at USD 42.23 billion in 2024 [3]

  8. The global smartwatch market is expected to reach USD 103.61 billion by 2030 [3]

  9. The global smartwatch market is expected to grow at a CAGR of 16.2% from 2025 to 2030 [3]

  10. The global analog watch market size was estimated at USD 26.5 billion in 2023 [4]

  11. The global analog watch market is expected to reach USD 43.2 billion by 2030 [4]

  12. The global analog watch market is expected to grow at a CAGR of 7.4% from 2024 to 2030 [4]

  13. The global digital watch market size was valued at USD 23.31 billion in 2023 [5]

  14. The global digital watch market is projected to reach USD 41.10 billion by 2030 [5]

  15. The global digital watch market is projected to grow at a CAGR of 8.7% from 2024 to 2030 [5]

  16. The global luxury jewelry and watch market size was valued at USD 353.26 billion in 2023 [6]

  17. The global luxury jewelry and watch market is projected to grow from USD 371.00 billion in 2024 to USD 482.22 billion by 2032 [6]

  18. The global luxury jewelry and watch market is expected to exhibit a CAGR of 3.33% during 2024-2032 [6]

  19. The global smart wearable market was valued at USD 84.2 billion in 2024 [7]

  20. The global smart wearable market is expected to reach USD 427.8 billion by 2034 [7]

  21. The global smart wearable market is expanding at a CAGR of 17.67% from 2025 to 2034 [7]

  22. The global wearable technology market size was estimated at USD 84.2 billion in 2024 [8]

  23. The global wearable technology market is anticipated to reach USD 427.8 billion by 2034 [8]

  24. The global wearable technology market is poised to grow at a CAGR of 17.67% from 2025 to 2034 [8]

Section 02

Production & Industry Structure

  1. Switzerland exported 13.95 million wristwatches in 2023 [9]

  2. The value of Swiss wristwatch exports in 2023 was CHF 25.99 billion [9]

  3. Switzerland exported 16.93 million electronic watches in 2023 [9]

  4. The value of Swiss electronic watch exports in 2023 was CHF 4.35 billion [9]

  5. Switzerland exported 12.20 million mechanical watches in 2023 [9]

  6. The value of Swiss mechanical watch exports in 2023 was CHF 23.38 billion [9]

  7. Switzerland exported 1.75 million precious metal watches in 2023 [9]

  8. The value of Swiss precious metal watch exports in 2023 was CHF 11.19 billion [9]

  9. Switzerland exported 8.32 million steel watches in 2023 [9]

  10. The value of Swiss steel watch exports in 2023 was CHF 9.29 billion [9]

  11. Switzerland exported 0.89 million bimetal watches in 2023 [9]

  12. The value of Swiss bimetal watch exports in 2023 was CHF 2.40 billion [9]

  13. Switzerland exported 17.09 million watches with export price under CHF 200 in 2023 [9]

  14. The value of Swiss watch exports priced under CHF 200 was CHF 0.86 billion in 2023 [9]

  15. Switzerland exported 3.80 million watches priced between CHF 200 and CHF 500 in 2023 [9]

  16. The value of Swiss watch exports priced between CHF 200 and CHF 500 was CHF 1.19 billion in 2023 [9]

  17. Switzerland exported 0.84 million watches priced between CHF 500 and CHF 3,000 in 2023 [9]

  18. The value of Swiss watch exports priced between CHF 500 and CHF 3,000 was CHF 1.27 billion in 2023 [9]

  19. Switzerland exported 0.67 million watches priced over CHF 3,000 in 2023 [9]

  20. The value of Swiss watch exports priced over CHF 3,000 was CHF 22.66 billion in 2023 [9]

  21. The U.S. imported CHF 4.37 billion of Swiss watches in 2023 [9]

  22. China imported CHF 2.65 billion of Swiss watches in 2023 [9]

  23. Hong Kong imported CHF 2.22 billion of Swiss watches in 2023 [9]

  24. Japan imported CHF 1.83 billion of Swiss watches in 2023 [9]

  25. The United Kingdom imported CHF 1.63 billion of Swiss watches in 2023 [9]

  26. Singapore imported CHF 1.44 billion of Swiss watches in 2023 [9]

Section 03

Regional Markets & Brand Shares

  1. Global smartwatch shipments grew 13% year-on-year in Q1 2024 [10]

  2. Apple’s global smartwatch market share was 21% in Q1 2024 [10]

  3. Huawei’s global smartwatch market share was 12% in Q1 2024 [10]

  4. Samsung’s global smartwatch market share was 9% in Q1 2024 [10]

  5. Imoo’s global smartwatch market share was 6% in Q1 2024 [10]

  6. Xiaomi’s global smartwatch market share was 6% in Q1 2024 [10]

  7. China accounted for 25% of global smartwatch shipments in Q1 2024 [10]

  8. India accounted for 23% of global smartwatch shipments in Q1 2024 [10]

  9. North America accounted for 15% of global smartwatch shipments in Q1 2024 [10]

  10. Europe accounted for 14% of global smartwatch shipments in Q1 2024 [10]

  11. The U.S. market share of Swiss watch exports was 16.4% in 2023 [9]

  12. China’s market share of Swiss watch exports was 9.9% in 2023 [9]

  13. Hong Kong’s market share of Swiss watch exports was 8.3% in 2023 [9]

  14. Japan’s market share of Swiss watch exports was 6.9% in 2023 [9]

  15. The United Kingdom’s market share of Swiss watch exports was 6.1% in 2023 [9]

  16. Singapore’s market share of Swiss watch exports was 5.4% in 2023 [9]

  17. Rolex held 30.3% of Swiss watch industry sales in 2023 [11]

  18. Cartier held 7.5% of Swiss watch industry sales in 2023 [11]

  19. Omega held 7.8% of Swiss watch industry sales in 2023 [11]

  20. Audemars Piguet held 7.0% of Swiss watch industry sales in 2023 [11]

  21. Patek Philippe held 6.0% of Swiss watch industry sales in 2023 [11]

  22. Richard Mille held 5.2% of Swiss watch industry sales in 2023 [11]

  23. Longines held 3.7% of Swiss watch industry sales in 2023 [11]

  24. Vacheron Constantin held 3.0% of Swiss watch industry sales in 2023 [11]

  25. Tissot held 2.8% of Swiss watch industry sales in 2023 [11]

  26. Swatch held 1.5% of Swiss watch industry sales in 2023 [11]

  27. Global smartwatch shipments rose 27% year-on-year in Q2 2021 [12]

  28. Apple captured 28% of global smartwatch shipments in Q2 2021 [12]

  29. Samsung captured 7.6% of global smartwatch shipments in Q2 2021 [12]

  30. Imoo captured 5.2% of global smartwatch shipments in Q2 2021 [12]

Section 04

Resale & Consumer Trends

  1. The pre-owned luxury watch market was worth $24 billion in 2023 [13]

  2. The pre-owned luxury watch market could reach $35 billion by 2030 [13]

  3. Online sales accounted for 23% of Swiss watch sales in 2023 [13]

  4. Younger consumers represented 40% of luxury watch buyers in 2023 [13]

  5. Women accounted for one-third of luxury watch buyers in 2023 [13]

  6. 48% of U.S. adults owned a smartwatch or fitness tracker in 2023 [14]

  7. 23% of U.S. adults owned a smartwatch only in 2023 [14]

  8. 8% of U.S. adults owned a fitness tracker only in 2023 [14]

  9. 17% of U.S. adults owned both a smartwatch and a fitness tracker in 2023 [14]

  10. 61% of U.S. women owned a smartwatch or fitness tracker in 2023 [14]

  11. 35% of U.S. adults ages 18 to 49 owned only a smartwatch in 2023 [14]

  12. 59% of U.S. adults ages 18 to 49 owned a smartwatch or fitness tracker in 2023 [14]

  13. 29% of U.S. adults ages 50 and older owned a smartwatch or fitness tracker in 2023 [14]

  14. 58% of U.S. adults with household income of $100,000 or more owned a smartwatch or fitness tracker in 2023 [14]

  15. 31% of U.S. adults with household income under $30,000 owned a smartwatch or fitness tracker in 2023 [14]

  16. 79% of consumers use a smartwatch for health tracking [15]

  17. 73% of consumers use a smartwatch to tell time [15]

  18. 61% of consumers use a smartwatch for notifications [15]

  19. 33% of consumers use a smartwatch for mobile payments [15]

  20. 22% of consumers use a smartwatch for phone calls [15]

Section 05

Shipments & Sales

  1. The Apple Watch shipped 53.9 million units in 2022 [16]

  2. Apple's global smartwatch shipments were 50.7 million units in 2021 [16]

  3. Apple Watch shipments totaled 43.2 million units in 2020 [16]

  4. Rolex generated estimated sales of CHF 10.1 billion in 2023 [11]

  5. Cartier generated estimated sales of CHF 3.1 billion in 2023 [11]

  6. Omega generated estimated sales of CHF 2.6 billion in 2023 [11]

  7. Audemars Piguet generated estimated sales of CHF 2.35 billion in 2023 [11]

  8. Patek Philippe generated estimated sales of CHF 2.05 billion in 2023 [11]

  9. Rolex sold an estimated 1.24 million watches in 2023 [11]

  10. Cartier sold an estimated 660,000 watches in 2023 [11]

  11. Omega sold an estimated 570,000 watches in 2023 [11]

  12. Swatch sold an estimated 4.1 million watches in 2023 [11]

  13. Tissot sold an estimated 3.1 million watches in 2023 [11]

  14. Longines sold an estimated 1.5 million watches in 2023 [11]

  15. Apple captured 22% of the global smartwatch market in Q4 2024 [17]

  16. Huawei captured 13% of the global smartwatch market in Q4 2024 [17]

  17. Samsung captured 9% of the global smartwatch market in Q4 2024 [17]

  18. Global smartwatch shipments declined 7% year-on-year in 2024 [17]

  19. China’s smartwatch market grew 6% year-on-year in 2024 [17]

  20. Apple’s smartwatch shipments declined 19% year-on-year in 2024 [17]

  21. Huawei’s smartwatch shipments grew 35% year-on-year in 2024 [17]

  22. Samsung’s smartwatch shipments declined 3% year-on-year in 2024 [17]

  23. India’s smartwatch market declined 30% year-on-year in 2024 [17]

Section 06

Trade & Exports

  1. Swiss watch exports totaled CHF 26.7 billion in 2023 [9]

  2. Swiss watch exports increased by 7.6% in 2023 [9]

  3. Swiss watch exports reached CHF 2.4 billion in December 2023 [18]

  4. Swiss watch exports fell by 3.8% year-on-year in December 2023 [18]

  5. Watches made of precious metals saw exports rise by 5.2% in December 2023 [18]

  6. The number of steel watch exports declined by 7.6% in December 2023 [18]

  7. Swiss watch exports reached CHF 2.1 billion in January 2024 [19]

  8. Swiss watch exports increased by 3.1% year-on-year in January 2024 [19]

  9. Exports to the United States increased by 16.8% in January 2024 [19]

  10. Exports to China fell by 25.5% in January 2024 [19]

  11. Swiss watch exports reached CHF 2.3 billion in March 2024 [20]

  12. Swiss watch exports increased by 4.8% year-on-year in March 2024 [20]

  13. The United States accounted for growth of 13.2% in March 2024 [20]

  14. Japan recorded export growth of 11.8% in March 2024 [20]

  15. Swiss watch exports reached CHF 2.2 billion in April 2024 [21]

  16. Swiss watch exports declined by 6.4% year-on-year in April 2024 [21]

  17. Exports to China slumped by 19.6% in April 2024 [21]

  18. Exports to Hong Kong decreased by 22.6% in April 2024 [21]

  19. Swiss watch exports reached CHF 2.3 billion in May 2024 [22]

  20. Swiss watch exports declined by 2.2% year-on-year in May 2024 [22]

  21. Exports to the United States rose by 7.6% in May 2024 [22]

  22. Exports to China dropped by 18.7% in May 2024 [22]

  23. Swiss watch exports reached CHF 2.2 billion in June 2024 [23]

  24. Swiss watch exports declined by 7.2% year-on-year in June 2024 [23]

  25. Swiss watch exports reached CHF 2.1 billion in July 2024 [24]

  26. Swiss watch exports fell by 2.4% year-on-year in July 2024 [24]

  27. Watches priced over CHF 3,000 increased by 5.0% in July 2024 [24]

References

Footnotes

  1. 1
    grandviewresearch.com
    grandviewresearch.com×5
  2. 6
    fortunebusinessinsights.com
    fortunebusinessinsights.com
  3. 7
    precedenceresearch.com
    precedenceresearch.com×2
  4. 9
    fhs.swiss
    fhs.swiss×8
  5. 10
    counterpointresearch.com
    counterpointresearch.com×3
  6. 11
    professionalwatches.com
    professionalwatches.com
  7. 13
    bcg.com
    bcg.com
  8. 14
    pewresearch.org
    pewresearch.org
  9. 15
    statista.com
    statista.com×2

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