Market share of the leading luxury watch brands worldwide in 2024

 In 2024, Rolex was the largest player in the global luxury watch market with more than one-third retail market share in the luxury watch industry. Other well-known Swiss brands Cartier and Omega followed Rolex in the ranking with market shares of 8 percent and 7 percent, respectively. 

World capital of luxury watches 

 The concept of luxury watches is almost synonymous with Swiss watches. Renowned for their precision, quality and durability, watches from Switzerland are in high demand all around the globe. The domination of Swiss watches in the luxury watch market, which is a multi-billion-dollar industry, is further attested by the ranking of leading luxury watch brands based on their annual sales. The worldwide success of Swiss watch brands also plays an important role for the economy of Switzerland, as the country generated almost 20 billion Swiss francs from the export of luxury watches in 2023.

 

 Future of traditional watches

 Even though Swiss watches are perceived, sold, and owned as luxury goods items, the future of traditional, analog watches may not be as bright as the economic figures indicate. In 2019, Apple Watch alone outperformed the entire Swiss watch industry, which could indicate a shift in consumer choices towards more digital options.