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 Telecommunications market in Cyprus

The Cypriot Telecommunications eCommerce market is predicted to reach US$32.5 million by 2024 and accounts for 43.7% of the Consumer Electronics 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 -1.1%, resulting in a projected market volume of US$31.1 million by 2028. The Telecommunications eCommerce market is a sub-market of the Consumer Electronics market. Further categories within the Consumer Electronics market are: Audio, Cameras, Computing, Fitness Trackers, Game Consoles, Other Consumer Electronics, Printers & Scanners, and TV & Video.

eCommerce revenue development in the Telecommunications 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 Telecommunications 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)28.531.525.458.567.797.667.743.2
as of Consumer Electronics (in %)2.12.01.81.81.61.21.11.00.90.70.60.6

Online share

eCommerce online share of the total Telecommunications 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 Telecommunications retail market, the online share is 44.4% and will increase by an average of 4.9% to 53.7% by 2028.

eCommerce online share of the total Telecommunications market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)82.3%43.3%51.7%83.4%80.4%24.8%45.3%10.4%

Market definition

Definition of the Telecommunications market within the Electronics market

Market definition: Electronics > Consumer Electronics > Telecommunications The category Telecommunications includes the online trade of smartphones and accessories (e.g. smartphone devices, refurbished and pre-owned phones, smartphone cases), smartwatches (e.g. smartwatch devices, wristbands and straps) and phones (e.g. landline phones, cordless phones). This category does not cover computer, TVs or cameras. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Smartphones and accessories (e.g. smartphone devices, refurbished and pre-owned phones, smartphone cases)
  • Smartwatches (e.g. smartwatch devices, wristbands and straps)
  • Phones (e.g. landline phones, cordless phones)

Out-of-scope

  • Computer
  • TVs
  • Cameras
  • Headphones
  • Loudspeakers
  • Printers
  • Game consoles

Market comparison

The Cypriot Telecommunications market in a global comparison

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

in %

Source: ECDB analysis

Select sub-category

* Not available for the selected country