Electronics market in Cyprus

The Cypriot Electronics eCommerce market is predicted to reach US$115.3 million by 2024 and accounts for 20.8% of the total eCommerce market in Cyprus. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -1.5%, resulting in a projected market volume of US$108.7 million by 2028. 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 Cyprus

The Cypriot Fitness Trackers eCommerce market is predicted to reach US$2.0 million by 2024 and accounts for 2.6% of the Consumer Electronics eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 7.3%, resulting in a projected market volume of US$2.6 million by 2028. 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 Cyprus

in million US$

eCommerce revenue growth in the Fitness Trackers market in Cyprus

in %

Net eCommerce revenue split by sub-category

in %
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 %) 99.1 11.2 92.1 5.8 96.3 11.7 80.0 51.0

Online share

eCommerce online share of the total Fitness Trackers market in Cyprus

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Cypriot Fitness Trackers retail market, the online share is 43.7% and will increase by an average of 6.4% to 56.1% by 2028.

eCommerce online share of the total Fitness Trackers market in Cyprus

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 97.0% 3.1% 99.2% 27.4% 83.5% 18.3% 10.8% 51.2%

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