Electronics market in Armenia
The Armenian Electronics eCommerce market is predicted to reach US$345.7 million by 2023 and accounts for 21.9% of the total eCommerce market in Armenia. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 3.8%, resulting in a projected market volume of US$401.9 million by 2027. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.
Market development
eCommerce revenue development in the Fitness Trackers market in Armenia
The Armenian Fitness Trackers eCommerce market is predicted to reach US$4.9 million by 2023 and accounts for 2.1% of the Consumer Electronics eCommerce market in Armenia. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 11.4%, resulting in a projected market volume of US$7.5 million by 2027. The Fitness Trackers eCommerce market is a sub-market of the Consumer Electronics market. Further categories within the Consumer Electronics market are: Audio, Cameras, Computing, Game Consoles, Other Consumer Electronics, Printers & Scanners, TV & Video, and Telecommunications.
eCommerce revenue development in the Fitness Trackers market in Armenia
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Fitness Trackers market in Armenia
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 71.3 | 48.3 | 54.5 | 0.9 | 17.6 | 84.7 | 19.6 | 7.3 |
| AOV (in US$) | 0.7 | 0.1 | 0.3 | 0.2 | 0.5 | 0.4 | 0.4 | 0.9 |
| CVR (in %) | 25.0 | 32.7 | 6.4 | 29.0 | 52.4 | 9.8 | 48.0 | 28.6 |
Market definition
Definition of the Fitness Trackers market within the Electronics market
Market definition: Electronics > Consumer Electronics > Fitness Trackers The category Fitness Trackers includes the online trade of fitness trackers (e.g. fitbit charge, garmin vivosmart, xiaomi mi band), kids' fitness trackers and specialized fitness wearables (e.g. running watches, cycling computers, and golf gps watches). This category does not cover smartwatches with fitness features, heart rate monitors or hybrid fitness watches. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Fitness trackers (e.g. Fitbit Charge, Garmin Vivosmart, Xiaomi Mi Band)
- Kids' fitness trackers
- Specialized fitness wearables (e.g. running watches, cycling computers, and golf GPS watches)
Out-of-scope
- Smartwatches with fitness features
- Heart rate monitors
- Hybrid fitness watches
- Fitness tracker apps and software
Select sub-category