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 Smartphone Devices market in Cyprus

The Cypriot Smartphone Devices eCommerce market is predicted to reach US$29.8 million by 2024 and accounts for 98.3% of the Smartphones 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 -1.3%, resulting in a projected market volume of US$28.3 million by 2028. The Smartphone Devices eCommerce market is a sub-market of the Smartphones market. Further categories within the Smartphones market are: Cases & Accessories.

eCommerce revenue development in the Smartphone Devices market in Cyprus

in million US$

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 Smartphone Devices market in Cyprus

in %

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

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)10.852.016.82.873.57.215.956.7

Online share

eCommerce online share of the total Smartphone Devices 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 Smartphone Devices retail market, the online share is 44.4% and will increase by an average of 5.7% to 55.3% by 2028.

eCommerce online share of the total Smartphone Devices market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)29.5%7.0%81.6%60.1%87.5%28.4%80.0%46.1%

Market definition

Definition of the Smartphone Devices market within the Electronics market

Market definition: Electronics > Consumer Electronics > Telecommunications > Smartphones > Smartphone Devices The category Smartphone Devices includes the online trade of smartphone devices (e.g. iphone, samsung galaxy, xiaomi redmi) and refurbished and pre-owned phones. This category does not cover smartphone cases and accessories (e.g. phone cases and covers, screen protectors) and phones (e.g. landline phones, cordless phones, fritz phones). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Smartphone devices (e.g. iPhone, Samsung Galaxy, Xiaomi Redmi)
  • Refurbished and pre-owned phones

Out-of-scope

  • Smartphone cases and accessories (e.g. phone cases and covers, screen protectors)
  • Phones (e.g. landline phones, cordless phones, fritz phones)

Market comparison

The Cypriot Smartphone Devices market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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