Electronics market in Cyprus
The Cypriot Electronics eCommerce market is predicted to reach US$234.6 million by 2023 and accounts for 21.3% of the total 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 2023-2027) will be 3.5%, resulting in a projected market volume of US$269.2 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 Other Telecommunications market in Cyprus
The Cypriot Other Telecommunications eCommerce market is predicted to reach US$0.9 million by 2023 and accounts for 1.4% of the Telecommunications 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 2023-2027) will be -2.4%, resulting in a projected market volume of US$0.8 million by 2027. The Other Telecommunications eCommerce market is a sub-market of the Telecommunications market. Further categories within the Telecommunications market are: Smartphones, and Smartwatches.
eCommerce revenue development in the Other Telecommunications market in Cyprus
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Other Telecommunications market in Cyprus
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 22.0 | 76.4 | 69.3 | 41.6 | 78.2 | 21.6 | 19.5 | 29.6 |
| AOV (in US$) | 0.7 | 0.9 | 0.3 | 0.1 | 0.2 | 0.4 | 0.6 | 0.4 |
| CVR (in %) | 46.3 | 68.5 | 5.2 | 17.9 | 63.4 | 72.7 | 26.3 | 30.3 |
Market definition
Definition of the Other Telecommunications market within the Electronics market
Market definition: Electronics > Consumer Electronics > Telecommunications > Other Telecommunications The category Other Telecommunications includes the online trade of phones (e.g. landline phones, cordless phones, fritz phones), cell phones without internet, answering machines and voice recorders, and more. This category does not cover smartphone devices (e.g. iphone, samsung galaxy, xiaomi redmi) and smartwatches (e.g. apple watch, samsung galaxy watch, huawei watch). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Phones (e.g. landline phones, cordless phones, fritz phones)
- Cell phones without internet
- Answering machines and voice recorders
- Satellite phones
Out-of-scope
- Smartphone Devices (e.g. iPhone, Samsung Galaxy, Xiaomi Redmi)
- Smartwatches (e.g. Apple Watch, Samsung Galaxy Watch, Huawei Watch)
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