watch industry statistics

Wrist Watch Industry Statistics

Watch Industry Statistics Data
Number of watches sold annually worldwide 1,200,000,000
Number of smartwatches sold in 2014 6,800,000
Average price of a smartwatch sold in 2014 $189
Number of Swiss Watches sold annually 29,200,000
Number of watches produced by China annually 663,000,000
Number of watches produced by Hong Kong annually 354,000.000
Average cost of a Swiss watch $739
Average cost of a China watch $3
Switzerland watch market share in terms of value 54 %
Watch Market Leaders by Sales Revenue Annual Revenue
Swatch / Omega annual sales $8,880,000,000
Rolex annual sales $4,500,000,000
Largest Global Watch Manufacturers Market Share
Swatch Group 18.3 %
Richemont 15.7 %
Rolex 11.8 %
Fossil (USA) 5.2 %
LVMH / Bulgari (France) 4.7 %
Citizen (Japan) 3.9 %
Seiko (Japan) 3.4 %
Patek Philippe 3 %
Casio (Japan) 2.1 %
Audemars Piguet 1.7 %
Others 30.1 %
Watch Sales by Type Market Share
Mechanical Watch market share 77 %
Electronic Watch market share 23 %
Largest Buyers of Watches by Purchased Value Percent
Hong Kong 20.4 %
USA 10.2 %
China 7.7 %
France 6.2 %
Germany 5.6 %
Watch Sales by Materials Percent
Steel 53 %
Other Materials 26 %
Other Metals 15 %
Gold-Steel 4 %
Precious Metals 2 %

A watch is a timepiece, typically worn either around the wrist or attached on a chain and carried in a pocket. Wristwatches are the most common type of watch used today. Watches evolved in the 17th century from spring powered clocks, which appeared in the 15th century. The first watches were strictly mechanical. As technology progressed, the mechanisms used to measure time have, in some cases, been replaced by use of quartz vibrations or electronic pulses. The first digital electronic watch was developed in 1970.

Statistic Verification
Source: Federation of the Swiss Watch Industry (FH), Convention Patronale, Bank Vontobel, Contrôle officiel suisse des chronomètres (Official Swiss Chronometer Testing Institute, or COSC), Interbrand
Research Date: August 2nd, 2015

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