Electronics market in Iceland

The Icelandic Electronics eCommerce market is predicted to reach US$207.9 million by 2023 and accounts for 22.7% of the total eCommerce market in Iceland. 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 4.6%, resulting in a projected market volume of US$248.9 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 Electrical Appliances market in Iceland

The Icelandic Electrical Appliances eCommerce market is predicted to reach US$66.5 million by 2023 and accounts for 32.0% of the Electronics eCommerce market in Iceland. 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 5.7%, resulting in a projected market volume of US$83.1 million by 2027. The Electrical Appliances eCommerce market is a sub-market of the Electronics market. Further categories within the Electronics market are: Consumer Electronics.

eCommerce revenue development in the Electrical Appliances market in Iceland

in million US$

eCommerce revenue growth in the Electrical Appliances market in Iceland

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 %) 13.2 68.2 81.4 36.7 92.7 44.0 89.1 0.8

Online share

eCommerce online share of the total Electrical Appliances market in Iceland

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 Icelandic Electrical Appliances retail market, the online share is 33.2% and will increase by an average of 1.5% to 35.2% by 2027.

eCommerce online share of the total Electrical Appliances market in Iceland

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 41.6% 65.5% 34.4% 36.4% 38.7% 76.8% 49.7% 76.5%

Top stores

Top five Electrical Appliances online stores in Iceland by net sales 2022

With sales in the Icelandic Electrical Appliances market, elko.is generated a revenue of US$7.2 million in 2022, which means it is the leading online store in this market. The Electrical Appliances ranking of Iceland is based on all online stores that generated sales in this market in 2022. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Electrical Appliances market in Iceland in 2022

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m 8.3%
US$550.0m
12.0%
US$4,600.0m 12.4%
US$470.0m
3.9%
US$1,190.0m 33.6%
US$430.0m
20.6%
US$2,122.0m 18.0%
US$370.0m
20.7%
US$1,814.0m 12.6%

Market definition

Definition of the Electrical Appliances market within the Electronics market

Market definition: Electronics > Electrical Appliances The category Electrical Appliances covers the sale of household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners), kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters) and personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers). This category does not cover consumer electronics (e.g. TVs, computers, printers) and lamps. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Household appliances (e.g. washing machines, dishwashers, vacuum cleaners, air conditioners)
  • Kitchen appliances (e.g. refrigerators, ovens, coffee machines, toasters)
  • Personal care appliances (e.g. hair dryers, electric toothbrushes, electric shavers)

Out-of-scope

  • Consumer electronics (e.g. TVs, computers, printers)
  • Lamps