Luxury Watch Market is predicted to reach USD 68.2 billion at a CAGR of 5.30% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Luxury Watch Market”.

The luxury watch market is estimated to register a CAGR of 5.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global luxury watch market— Apple Inc.; The Swatch Group Ltd.; Audemars Piguet Holding SA; Fossil Group, Inc.; Citizen Watch Company Of America, Inc.; Seiko Watch Corp.; Compagnie Financiere Richemont SA; LVMH Moet Hennessy Louis Vuitton; Movado Group Inc.; Ralph Lauren Corp.

Market Highlights

The global luxury watch market is accounted to register a CAGR of 5.30% during the forecast period and is estimated to reach USD 68.28 Billion by 2032.

One of the primary elements positively affecting demand for handcrafted luxury watches globally is the rising trend of using high fashion as a status symbol. Furthermore, the increased interest in professional scuba diving is fuelling the demand for specialised, high-end timepieces. These watches are built with diver-friendly characteristics including waterproofing and corrosion resistance, allowing them to work in salt water. Aside from that, the increasing complexity of aviation is driving the adoption of custom-made pilot luxury watches to aid with mid-flight aeronautical calculations such as wind correction angle and fuel usage. Furthermore, the ease with which luxury timepieces in distinctive materials, dial colors, strap designs, and themes are available is adding to market expansion.

Segment Analysis

The global luxury watch market has been segmented based product and distribution channel.

On the basis of product, the market is segmented into electronic and mechanical. The electronic segment dominated the market in 2022. Voice assistants and AI integration are now prevalent in many modern goods. Smart speakers, smartphones, and other devices are increasingly integrating virtual assistants like Siri, Google Assistant, and Amazon Alexa because users appreciate voice commands and AI-driven capabilities.  

Based on distribution channel, the global luxury watch market has been segmented into offline and online. The offline category generated the most income in 2022. Customers can physically inspect and interact with things when making purchases offline. For some things, like fashion, electronics, and luxury goods, where customers desire to examine and touch the objects before making a purchase, this tangible experience can be very crucial.

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Regional Analysis

The global luxury watch market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Luxury Watch market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Luxury Watch market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Luxury Watch market comprises of Middle East, Africa, and Latin America.

The second-largest market share belongs to the luxury watch market in North America. In North America, there are numerous well-known luxury watch businesses, many of which have a distinguished past and a distinctive name. Customers in this area usually value the prestige that comes with working with well-known luxury watchmakers.

Moreover, Europe luxury watch market is expected to grow at the fastest CAGR from 2023 to 2032. Luxury watches have a great cultural significance in Europe, where aesthetics and craftsmanship are highly valued. European buyers usually see luxury timepieces as investments and family heirlooms.

Additionally, the Asia-Pacific luxury watch market dominated this market in 2022 (45.80%). Due to the widespread use of social media and the internet in the Asia Pacific area, online platforms are significant sales drivers for luxury watches, especially among younger customers.

Furthermore, the rest of the world's luxury watch market is divided into the Middle East, Africa, and Latin America. Due to rising disposable income and a rising desire for luxury goods, the luxury watch market in the Middle East and Latin America has grown significantly in recent years. Rich consumers in both regions have an increased desire for high-end watch brands due to a combination of status symbol appeal and a fondness for classic craftsmanship and design.

Key Findings of the Study

• The global luxury watch market is expected to reach USD 68.28 Billion by 2032, at a CAGR of 5.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market Due to the widespread use of social media and the internet in the Asia Pacific area, online platforms are significant sales drivers for luxury watches, especially among younger customers.


• Based on distribution channel, the offline segment was attributed to holding the largest market in 2022.


• Apple Inc.; The Swatch Group Ltd.; Audemars Piguet Holding SA; Fossil Group, Inc.; Citizen Watch Company Of America, Inc.; Seiko Watch Corp.; Compagnie Financiere Richemont SA; LVMH Moet Hennessy Louis Vuitton; Movado Group Inc.; Ralph Lauren Corp.