Electronics market in Iceland
The Icelandic Electronics eCommerce market is predicted to reach US$192.0 million by 2024 and accounts for 21.9% 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 2024-2028) will be 0.1%, resulting in a projected market volume of US$192.7 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.
Monthly revenues
Monthly eCommerce revenues in the Icelandic Electronics market
The monthly eCommerce revenue of the Icelandic Electronics market was US$20 million in November 2024. This refers to a growth of 46.5% compared to October 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 11.0% of the total 2024 revenue of the Icelandic Electronics market and the lowest in September 2024 with 6.7% of the total 2024 revenue.
Revenue Last Month
US$20.3m
The eCommerce revenue grew by 46.5% from October 2024 to November 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 55.9 | 87.9 | 67.0 | 63.5 | 84.3 | 2.9 | 40.6 | 17.3 | 59.6 | 18.1 | 31.5 | 91.9 |
Market development
eCommerce revenue development in the Electronics market in Iceland
The Icelandic Electronics eCommerce market is predicted to reach US$192.0 million by 2024 and accounts for 21.9% 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 2024-2028) will be 0.1%, resulting in a projected market volume of US$192.7 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.
eCommerce revenue development in the Electronics market in Iceland
eCommerce revenue growth in the Electronics market in Iceland
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 91.2 | 43.3 | 18.8 | 42.6 | 14.7 | 12.1 | 68.1 | 32.8 |
Top stores
Top five Electronics online stores in Iceland by net sales 2023
With sales in the Icelandic Electronics market, elko.is generated a revenue of US$23.0 million in 2023, which means it is the leading online store in this market. The Electronics ranking of Iceland is based on all online stores that generated sales in this market in 2023. 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 Electronics market in Iceland in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
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% |
See further stores
Market definition
Definition of the Electronics market
Market definition: Electronics The category Electronics covers the sale of consumer electronics (e.g. computers, smartphones, TVs, headphones, game consoles) and appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes) via digital channels. Online stores dedicated to the sale of mobile contracts and tariffs, set-up and installation services or software are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Consumer Electronics (e.g. computers, smartphones, TVs, headphones, game consoles)
- Appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes)
Out-of-scope
- Mobile contracts and tariffs
- Set-up and installation services
- Software
- Car electronics (e.g. navigation systems, car entertainment systems, dashcams)
- Power tools
Select sub-category