Watches And Clocks Market Size, Share, Growth, and Industry Analysis, By Type (Sport Watches,Luxury Watches,Diamond Watches,Alarm Clock,Wall Clock), By Application (Display Time,Adornment,Collection,Others), Regional Insights and Forecast to 2033

Watches And Clocks Market Overview

The Watches And Clocks Market size was valued at USD 52423.16 million in 2024 and is expected to reach USD 73198.77 million by 2033, growing at a CAGR of 3.4% from 2025 to 2033.

The global watches and clocks market reached approximately USD 65.2 billion in 2024, with other credible estimates placing the range between USD 53 billion and USD 80 billion for the same period. Global shipments of wearable bands—key components of smartwatch and fitness-tracker segments—stood at 193 million units in 2024, marking a 4 percent increase year-over-year. Asia-Pacific accounted for over 33.7 percent of global watch market share in 2024, making it the leading region by volume.

Traditional Swiss-made watch exports registered 16.9 million units in 2023, down from 25.4 million in 2016, while smartwatch shipments reached 186 million units in 2023. In 2020, amid the pandemic, the global watches and clocks market was estimated at USD 60.5 billion. By early 2024, North American wearable-device units grew 8.8 percent compared to the previous year. The clock segment alone—spanning alarm, wall, and decorative clocks—showed stable double-digit volume in developed markets and over USD 60 billion in accessory spending in Canada in 2023.

Key Findings

Driver: Rising infrastructure development, evidenced by the US construction sector increasing by USD 100 billion in Q1 2022.

Top Country/Region: Asia-Pacific leads with 33.7 percent of total watch market share in 2024.

Top Segment: Smartwatch and wearable devices – 186 million units shipped globally in 2023

Watches And Clocks Market Trends

The smartwatch segment emerged as a dominant trend in 2024, pushing approximately 53.2 billion USD worth of units globally — more than double the output of conventional analog timepieces. Health and lifestyle features—like heart rate monitoring, ECG tracking, and blood oxygen sensors—now appear in over 80 percent of smartwatches, driving consumer electronics crossovers. In North America, digital watch shipments climbed to 32.9 billion USD in 2024, demonstrating rising penetration of smart and digital watches. Meanwhile, analog and traditional clocks—including alarm, wall, and decorative types—remain substantial. The global alarm clock market exceeded 2.5 billion USD in 2023, with projection digital alarm clocks alone valued at 1.25 billion USD in 2024. Wall clocks accounted for another 2.5 billion USD in 2024. Collectively, analog-based timepieces support a multi-billion-dollar aftermarket characterized by stable demand in home and office décor. Post-pandemic, consumer behavior shifted, with 40 percent of survey respondents in 2024 believing smartwatches remain the most popular purchase category—up from a lower base in 2022—indicating sustained demand momentum. At the same time, the global pre-owned luxury watch sector has ballooned to 27 billion USD, spurred by Gen Z, who now account for 20 percent of projected luxury-watch buyers and contribute to 10–12 percent annual growth in second-hand sales.

Innovation continues to reshape the sector. In 2024, 65 percent of luxury brands introduced digital product passports (DPPs) to authenticate provenance and reinforce sustainability. Collaborative limited editions also spiked, with 45 percent of flagship brands releasing co-branded timepieces with pop culture, automotive, or art entities. For example, tie-ups with Marvel and Porsche generated record interest and sold out within hours. Another key trend is infrastructure-driven clock deployment, especially in commercial venues. In the U.S., construction output rose from 1.916 trillion USD in Q1 2021 to 2.016 trillion USD in Q1 2022—fueling demand for wall-mounted time displays in offices and institutions. This has translated to consistently rising orders for institutional clocks, even where consumer analog clock growth has plateaued. Lastly, e-commerce and omnichannel expansion have become essential. With online retail now accounting for over 25 percent of global watches and clocks distribution, companies are optimizing digital storefronts, AR try-on experiences, and direct-to-consumer fulfillment models. Traditional brick-and-mortar still handles 75 percent of global sales, but online is growing faster year-over-year. In sum, the industry’s trends reflect a blend of digital transformation, heritage revival, collaborative edition releases, and infrastructure-driven demand, all reinforced by consumer behavior shifts post-pandemic.

Watches And Clocks Market Market Dynamics

DRIVERS

Infrastructure development spurring institutional clock deployment

Major infrastructure expansion—such as the U.S. construction industry growing from $1.916 trillion in Q1 2021 to $2.016 trillion in Q1 2022—has increased demand for institutional wall and tower clocks in offices, hospitals, and transit hubs. This trend is mirrored globally: Asia-Pacific leads watch and clock volume with over 33.7 percent share in 2024. In addition, household spending on personal accessories reached $60.3 billion in Canada in 2023, reinforcing consumer demand for fashionable clock units and wristwatches.

RESTRAINTS

Swiss export decline limiting luxury supply

Swiss mechanical-watch exports dropped from 25.4 million units in 2016 to 16.9 million in 2023, constraining global availability of new luxury watches. This decline coincides with a slump in luxury secondhand prices—Richemont and LVMH watch sales fell by 13 percent and 4 percent, respectively, in recent quarters—and is tightening supply despite steady demand.

OPPORTUNITIES

Boom in pre‑owned luxury segment fueled by Gen Z entry

The pre‑owned luxury-watch market is now valued at $24.38 billion in 2023, with platforms reporting upticks: Bob’s Watches saw a 20 percent sales rise between March–May 2025 amid Swiss import tariffs. Gen Z makes up 20 percent of luxury‑watch buyers, driving annual growth in second‑hand sales at 10–12 percent.

CHALLENGES

E‑commerce vs brick‑and‑mortar tension

Despite online sales rising to 25 percent of overall watches and clocks distribution, traditional retail still handles the remaining 75 percent. Retailers must invest in AR‑enabled digital platforms and omnichannel inventory to stay competitive, or risk losing share as smartphone‑driven shoppers demand convenience and virtual trials.

Watches And Clocks Market Segmentation

The market segments by type (Display Time, Adornment, Collection, Others) and by application (Supermarkets & Hypermarkets, Independent Retailers, Convenience Stores, Online Retailers). Over 80 percent of smartwatches fall under Adornment and Display Time, while traditional clock types fill Collection and Other categories—each with double‑digit billions in annual unit volumes. Applications vary by channel: supermarkets and hypermarkets generate large‑volume analog clock sales; independent retailers thrive on bespoke and luxury timepieces; convenience stores handle quick‑buy alarm clocks; online retailers dominate smartwatch and collectible watch distribution, with more than 25 percent of global sales volume occurring online.

By Type

• Display Time: Includes functional wall, desk, and alarm clocks. The global alarm clock segment exceeded $2.5 billion in 2023, while wall clocks reached $2.5 billion in 2024—together creating over $5 billion in volume.
• Adornment: Wristwatches, including smart and analog luxury types, comprised 193 million wearable band units in 2024, with smartwatches covering 186 million units in 2023.
• Collection: Second‑hand luxury watches account for $24.38 billion in value in 2023, representing a major collectible category driven by Gen Z.
• Others: Niche clocks such as atomic, projection, and novelty timepieces total hundreds of million units yearly, adding several hundred million in sales globally.

By Application

• Supermarkets & Hypermarkets: These outlets drove analog clock shipments worth over $2 billion in 2023–24, appealing to mass‑market consumers.
• Independent Retailers: Accounted for the bulk of luxury and collectible watch transactions—pre‑owned watch sales hit $24.38 billion in 2023, largely via independent boutiques and certified dealers.
• Convenience Stores: Sold lightweight alarm clocks with annual volumes that collectively surpass 50 million units, generating over $500 million in accessory spending.
• Online Retailers: Handled more than 25 percent of worldwide clock and watch sales in 2024, including the $24 billion pre‑owned luxury segment and 186 million smartwatches, highlighting digital penetration.

Watches And Clocks Market Regional Outlook

The Watches & Clocks market shows strong regional disparity. Asia‑Pacific leads in unit volume with 33.7 percent global share in 2024, followed by Europe and North America, which together contribute over 60 percent of value‑equivalent sales. The Middle East & Africa region contributes a smaller, though growing, share, particularly in luxury and timekeeping infrastructure.

• North America

held more than 40 percent of global market share in 2024, totaling $21.7 billion in clock/watch output; the U.S. portion equated to $17.12 billion, while Canada represented $2.6 billion, and Mexico $1.97 billion. High disposable incomes and established retail networks support luxury and smartwatch demand.

• Europe

Though Swiss watch exports dropped from 25.4 million units in 2016 to 16.9 million in 2023, Europe still dominates the luxury segment, with high pre‑owned valuations; Rolex accounts for 73.8 percent of pre‑owned segment sales. Women’s watches grew from $23.7 billion in 2019 to over $26 billion by 2027.

• Asia‑Pacific

led global watch and clock volume with 33.7 percent share in 2024. The region leads the timing‑device segment at $5.24 billion in 2024, driven by smartphone and wearable adoption. China, Japan, and India feature prominently.

• Middle East & Africa

While accounting for a smaller share (~5 percent globally), the MENA and African markets show increasing demand for luxury and institutional clocks, with high‑end watch imports and public‑space time installations on the rise alongside tourism‑driven spending.

List of Top Watches And Clocks Companies

• AcuRite
• SDI Technologies
• Sangean
• Westclox clocks
• Sonic Alert
• La Crosse Technology
• SONY
• Emerson Radio Corporation
• Oregon Scientific
• Philips Electronics
• Electrohome
• Gingko Electronics
• Lumie
• Brookpace Lascelles
• Newgate Clocks
• The White Company
• Swatch Group
• Rolex
• Richemont
• LVMH
• Fossil
• Citizen
• Seiko
• Patek Philippe
• Casio
• Chopard
• Audemars Piguet
• Movado Group
• Kering

Rolex – Holds an estimated 73.8 percent share of the global pre‑owned luxury‑watch market.

Swatch Group – Leads in consumer and collectible segments; Swiss exports stabilized at 16.9 million units in 2023.

Investment Analysis and Opportunities

Investment activity in the global watches and clocks market has intensified in recent years, driven by evolving consumer preferences, growing demand for digital wearables, and the expansion of pre-owned luxury timepieces. A major area attracting investment is the pre-owned luxury watch segment, which was valued at approximately $24.38 billion in 2023. Leading platforms such as Bob’s Watches and Chrono24 are experiencing double-digit growth in traffic and transactions, with Bob’s Watches reporting a 20% increase in sales between March and May 2025. This reflects strong investor confidence in authenticated resale models and trade-in ecosystems that maintain asset value over time. Smartwatches and hybrid watches have emerged as one of the most lucrative areas for capital deployment. Global shipments of smartwatches reached 186 million units in 2023, with wearable band shipments totaling 193 million in 2024. Investors are increasingly funding R&D in wearable technology that blends fashion with functionality, particularly models that integrate health tracking, fitness monitoring, and communication features. 

Institutional clocks used in schools, airports, railway stations, and offices are also gaining attention from infrastructure investors. With global infrastructure spending climbing in both developed and emerging economies, synchronized wall clocks, time distribution systems, and GPS-powered digital clocks are being adopted on a large scale. In the United States alone, the construction industry increased from $1.916 trillion in Q1 2021 to $2.016 trillion in Q1 2022, which directly supports demand for centralized timekeeping systems in public and commercial spaces. Investment opportunities also lie in expanding omnichannel retail strategies. With online retailers accounting for over 25% of global clock and watch sales, companies are integrating augmented reality for digital trials, virtual showrooms, and blockchain-based authenticity verification. These initiatives are being prioritized through private equity and digital transformation funds aimed at revitalizing legacy watch retail chains. Furthermore, sustainability is emerging as an investment theme. From upcycled materials and solar-powered mechanisms to biodegradable packaging, investors are backing eco-conscious timepiece brands. Traditional players are also channeling capital into limited-edition releases that blend heritage craftsmanship with modern materials such as carbon composites, titanium alloys, and sapphire crystal. 

New Product Development

New product development in the watches and clocks market is focused on innovation in both aesthetics and technology. Brands are prioritizing the integration of advanced materials, hybrid mechanisms, and user-centric digital features. One of the most notable developments is the surge in meca-fluidic timepieces, such as HYT’s “Hastroid” collection, which debuted in 2023. These watches combine traditional mechanical parts with pressurized fluid systems to indicate time, offering a futuristic design with precise timekeeping functionality. The use of titanium and magnesium in their casing reflects the growing trend of using lightweight, durable materials in luxury and mid-range watches. Smartwatches continue to lead the wave of innovation. In 2023 alone, smartwatch shipments reached 186 million units, featuring improvements in health-monitoring capabilities such as ECG, blood oxygen levels, stress tracking, and sleep optimization.

Digital product passports (DPPs) have become a game-changing feature for luxury watch authentication and sustainability. By 2024, 65% of luxury brands implemented DPP systems, offering QR-coded digital records that verify ownership history, production details, and servicing records. This technology has become a cornerstone of the growing pre-owned market and ensures the integrity of resale transactions. Design innovations have also become a competitive differentiator. Leading brands are introducing limited-edition collaborations with pop culture icons, luxury carmakers, and entertainment franchises. These special releases often sell out within days and appeal to collectors and younger demographics alike. Over 45% of major brands participated in such collaborations during 2023–2024. Additionally, modular watch designs are being rolled out, allowing users to switch components such as bezels, straps, and faces, resulting in high personalization potential. In the clock segment, projection clocks and voice-activated timepieces are gaining traction in the consumer electronics category. Clocks with ambient lighting, wireless charging, and Bluetooth integration have been introduced to meet multifunctional needs in home and office environments. Meanwhile, atomic clocks with precision timing for scientific, aerospace, and industrial use are being refined for enhanced stability and portability.

Five Recent Developments

• 65 percent of luxury brands introduced digital product passports (DPPs) by 2024 for authentication.
• HYT launched the Meca‑fluidic “Hastroid” in March 2023, showcasing hybrid fluid‑mechanical timing in titanium/magnesium build.
• Rolex Certified Pre‑Owned scheme debuted in late 2022, strengthening trust in secondary market.
• Bob’s Watches reported a 20 percent sales increase between March–May 2025 as Swiss import tariffs boosted domestic sourcing.
• Collaborations (Marvel, Porsche, film franchises) led to sold‑out limited editions by 2024; 45 percent of flagship brands engaged in such partnerships.

Report Coverage of Watches And Clocks Market

The Watches and Clocks Market report provides an exhaustive examination of the global industry landscape, including detailed evaluations of analog and digital wristwatches, wall clocks, table clocks, alarm clocks, and advanced smartwatches. This comprehensive study covers both consumer-focused and institutional segments, delivering actionable insights into product types, applications, regional performance, manufacturing trends, and supply chain dynamics. With emphasis on factual data, the report outlines changes in production volumes, product penetration rates, shipment data, and ownership trends from 2021 through 2025. The scope of the report covers a multi-dimensional breakdown of the market based on type, such as Display Time, Adornment, Collection, and Others. The Display Time segment consists of traditional wall, desk, and alarm clocks, which are widely used in homes, offices, schools, and public institutions. For instance, global alarm clock volume exceeded 2.5 billion USD in 2023, while wall clocks matched a similar figure in 2024, illustrating their ongoing demand. The Adornment segment includes smartwatches and analog wristwatches, with global smartwatch shipments reaching 186 million units in 2023, and total wearable band shipments climbing to 193 million units in 2024. 

Regionally, the report segments the market into North America, Europe, Asia-Pacific, and the Middle East & Africa. North America contributed over $21.7 billion in total market size in 2024, with the U.S. alone accounting for more than $17.12 billion. Europe remains a stronghold for luxury brands, supported by Swiss watchmaking exports which, although reduced to 16.9 million units in 2023, continue to dominate high-end markets. Asia-Pacific led the global watch and clock unit volumes in 2024 with a 33.7% share, driven by rising adoption of smart devices and domestic manufacturing in China and Japan. The Middle East & Africa region, while smaller, is showing growth in institutional clock infrastructure and luxury demand. In addition, the report covers market dynamics, including drivers such as growing demand for smart wearable technology and infrastructure development fueling clock deployment in commercial spaces. It also examines restraints like the decline in Swiss exports and challenges including the ongoing disruption between traditional retail and online platforms. Opportunities are explored in the booming pre-owned luxury segment, now influenced heavily by Gen Z and digital authentication tools such as digital product passports. This report further includes competitive analysis, highlighting top market players such as Rolex and Swatch Group, both of which hold significant shares.

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