Dublin, March 07, 2025 (GLOBE NEWSWIRE) -- The "United Kingdom Watch Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom watch industry is expected to register USD 4.55 billion in revenue by 2030, up from USD 3.04 billion in 2024. The growth is driven by growing demand for luxury, smart, and fashion watches, as well as wearable technology advancements. The market is anticipated to grow at a compound annual growth rate (CAGR) of 4.57% between 2024 and 2030, as consumer preferences change and innovation picks up. 
United Kingdom Watch Market Outlooks
A watch is a timepiece that is worn on the wrist or in a pocket and is used for both practical and decorative purposes. Watches have changed over time from basic mechanical timepieces to advanced digital and smartwatches that provide several features, such as fitness tracking, notifications, and GPS.
Watches are commonly used in the United Kingdom for various purposes. Most professionals opt for mechanical and luxury watches as a reflection of status and craftsmanship. Smartwatches have become popular due to their ease of monitoring fitness activities, health metrics, and connectivity. The fashion-conscious consumer segment also appreciates watches as fashionable accessories that complement their attire. As increasing focus has come to fall upon technology, wearables with smartphones are continuing to rule the market in the UK, though traditional watches also still have a market among connoisseurs and collectors. Either for fashion purposes, usability, or just because, a watch is an irreplaceable UK accessory across divergent consumer behavior and lifestyle niches.
Key Drivers in United Kingdom Watch Industry
Rise in Luxury Watches Demand
Luxury watches continue to be a symbol of status in the UK, with Rolex, Omega, and Patek Philippe witnessing high demand. British buyers value heritage, craftsmanship, and rarity, and thus high-end watches are a desired investment. The growing trend of pre-owned luxury watches is also driving market growth, as collectors and connoisseurs seek rare and vintage models. London, being a world center for high-end shopping, draws wealthy customers and travelers who account for much of luxury watch sales. January 2023: Fossil Group opened a new marketplace, 'Katchin,' in the United Kingdom exclusively for watches and jewelry. The company asserted that Katchin seeks to provide consumers with a fresh method of purchasing accessories, bringing 'the most coveted names together in one shop' together with carefully curated content and how-to-style guides.
Smartwatch Adoption and Innovation
Smartwatches are becoming increasingly popular as a result of their health-tracking abilities, connectivity, and ease of use. Major players such as Apple, Garmin, and Samsung hold a market stronghold, finding favor with health-conscious buyers, professionals, and technology buffs. The adoption of AI, mobile payments, and better battery life has further fortified the segment. A majority of consumers in the UK opt for smartwatches instead of conventional watches, thanks to the integration of style and cutting-edge technology. September 2022, Huawei, a Chinese technology company, revealed that the Watch D will be sold in the European market soon. The Huawei watch, the business stated, features blood pressure, electrocardiogram (ECG), heart rate, skin temperature, and SpO2 sensors that will be able to measure blood oxygen.
Expansion of Online Watch Sales
The e-commerce industry, which is thriving in the UK, is changing the way people sell watches. Internet portals such as Amazon, Watchfinder, and Chrono24 provide a vast array of watches to suit budget shoppers as well as luxury buyers. Online purchasing is preferred because of its ease, improved bargains, and availability of international brands. Watch manufacturers are also promoting their online presence through virtual try-ons, influencer campaigns, and limited-edition online launches, which result in greater sales. September 2024, Apple released the new Apple Watch Series 10 to commemorate 10 years since they first launched a smartwatch in the UK. The technology giant also took advantage of the decade by releasing the Apple Watch Ultra 2 in black.
United Kingdom Watch Market Challenges
Smartphone and Wearable Competition
Most consumers use smartphones as a time-telling device, hence minimizing the demand for conventional watches. Moreover, the emergence of wearable technology like smart rings and fitness bands is competition for both smartwatches and traditional watches. This trend impacts the demand for mid-range analog and digital watches, causing some brands to struggle with maintaining consistent sales.
Counterfeit and Grey Market Sales
The UK watch market is subject to counterfeit and unauthorized sales that undermine brand reputation and income. Counterfeit luxury watches are common, particularly on the internet, deceiving customers into purchasing low-quality products. Grey market traders also sell reduced-price authentic watches without brand endorsement, undercutting official dealers and undermining price management. This has an effect on consumer confidence and long-term viability of high-end brands.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $3.05 Billion |
| Forecasted Market Value (USD) by 2033 | $4.55 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | United Kingdom |
Company Analysis: Overviews, Key Person, Recent Developments, Revenue
- Fossil Group Inc.
- Titan Company Limited
- LVMH Group
- Apple Inc.
- Compagnie Financiere Richemont S.A
- The Swatch Group Ltd
- Citizen Watch Co. Ltd.
- Seiko Group Corporation
United Kingdom Watch Market Segments
Type
- Quatz Watches
- Electronic Watches
- Mechanical Watches
Gender
- Men
- Women
- Unisex
Price Range
- Luxury
- Non-Luxury
Distribution Channel
- Hyper Market/Super Market
- Convenience Stores
- Online
For more information about this report visit https://www.researchandmarkets.com/r/pw689t
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