Market Size and Growth
- The global wristwatch market was valued at $62.8 billion in 2020.
- It’s projected to grow at a CAGR of about 6.2% from 2021 to 2028.
- The U.S. wristwatch market reached $8.8 billion in sales in 2019.
Leading Brands and Segments
- Top three brands by sales in 2019 were Apple, Rolex, and Swatch Group.
- Mechanical watches made up 18.4% of the market in 2019, growing at a CAGR of 6.7%.
- Luxury wristwatches held a 35.5% market share in 2019.
Import and Export
- The U.S. was the largest importer, with a market worth $3.3 billion in 2019.
- India imported $306.94 million worth of wristwatches in 2019.
- The Swiss watch industry produced 20.6 million units in 2018.
Smartwatches and Technology
- In 2019, 63.5% of smartwatches sold were iOS-based.
- The global kids’ smartwatch market is expected to hit $3.2 billion by 2025.
- The market for sports wristwatches is projected to reach $820.7 million by 2025, with a CAGR of 5.92%.
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Demographics and Market Segments
- Female wristwatches accounted for 53.4% of the market share in 2019.
- Quartz analog wristwatches held 72.4% of the market share in 2019.
- Premium wristwatches priced above $5000 had a 13.8% market share in 2019.
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