What is the current Watch Market size?

The Watch Market is projected to register a CAGR of 5.16% during the forecast period (2024-2029) Read More

Who are the key players in Watch Market?

Seiko Holdings Corporation, The Swatch Group, Casio, Fossil Group Inc. and Rolex are the major companies operating in the Watch Market. Read More

Which is the fastest growing region in Watch Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Watch Market?

In 2024, the Asia-Pacific accounts for the largest market share in Watch Market. Read More

What years does this Watch Market cover?

The report covers the Watch Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Watch Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Watch Market Trends

Statistics for the 2023 & 2024 Watch market trends, created by Mordor Intelligence™ Industry Reports. Watch trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Watch Industry

Surge in Demand for Smartwatches

Consumer demand for high-quality and smart wearables is increasing. Smartwatches have multifunctionality and are available in different sizes and color straps. The increase in health awareness among consumers worldwide has increased consumer spending on health monitoring gadgets. This has further led to the increased sales of smartwatches owing to the inclusion of various health monitoring features in such watches.
Smartwatches have a wide range of monitoring functionalities that enable users to control music, notifications, walk tracks, heartbeat rates, and other functions. Moreover, manufacturers are introducing smartwatches with additional features. For instance, in 2021, Samsung introduced a new smartwatch that claimed to monitor the overall body composition of a person, like BMI, BMR, Bone density, body fat percentage, and many more.
The increasing number of the working population is more likely to embrace sports and fitness as a part of recreational activity. Over the medium term, the demand for smartwatches is expected to increase owing to the increasing number of sports and fitness activities and rising product innovations.

Watch Market: Average Population Engaged in Sports and Leisure Activities per Day (%), United States, 2018-2022

Understand The Key Trends Shaping This Market

Download PDF

Asia-Pacific Holds the Largest Share

Consumer demand for smart wear and luxury watches is increasing in the region due to rising disposable income and sports participation. The watch has become a style statement, so the use of high-quality watches is increasing. The demand for women's watches is growing in the region with the expanding female workforce.
The female population in the region is opting for smartwatches as well as luxury watches. Owing to this, the market players are launching new products in the region. For instance, in June 2022, Gizmore launched a new smartwatch in India, Slate. The watch is designed exclusively for women. The watch has seven days of battery backup and is available in pink, grey, and black colors.
Additionally, online retail channels, such as Amazon, Flipkart, and eBay, provide attractive discounts on watches, influencing the demand for luxury and smartwatches in the region.