Electronics market in Cyprus
The Cypriot Electronics eCommerce market is predicted to reach US$114.3 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$107.8 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 Loudspeakers market in Cyprus
The Cypriot Loudspeakers eCommerce market is predicted to reach US$2.9 million by 2024 and accounts for 49.1% of the Audio 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 -10.1%, resulting in a projected market volume of US$1.9 million by 2028. The Loudspeakers eCommerce market is a sub-market of the Audio market. Further categories within the Audio market are: Headphones, Hifi Equipment, and Other Audio.
eCommerce revenue development in the Loudspeakers market in Cyprus
eCommerce revenue growth in the Loudspeakers market in Cyprus
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 76.4 | 41.8 | 44.2 | 13.8 | 28.0 | 87.4 | 84.4 | 50.8 | ||||
as of Audio (in %) | 34.8 | 36.2 | 35.7 | 39.2 | 48.4 | 48.9 | 46.1 | 42.9 | 38.9 | 35.1 | 32.4 | 29.4 |
Market definition
Definition of the Loudspeakers market within the Electronics market
Market definition: Electronics > Consumer Electronics > Audio > Loudspeakers The category Loudspeakers includes the online trade of home audio speakers (e.g. bookshelf speakers, soundbars, subwoofers), bluetooth speakers (e.g. portable bluetooth speakers, bluetooth stereo speakers, smart bluetooth speakers), record players, and more. This category does not cover car multimedia (e.g. car stereos, car audio systems) and headphones. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Home audio speakers (e.g. bookshelf speakers, soundbars, subwoofers)
- Bluetooth speakers (e.g. portable bluetooth speakers, bluetooth stereo speakers, smart bluetooth speakers)
- Record players
- CD players
Out-of-scope
- Car multimedia (e.g. car stereos, car audio systems)
- Headphones
Market comparison
The Cypriot Loudspeakers market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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