Electronics market in Iceland

The Icelandic Electronics eCommerce market is predicted to reach US$191.2 million by 2024 and accounts for 21.4% of the total eCommerce market in Iceland. 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 -0.1%, resulting in a projected market volume of US$190.5 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 Hifi Loudspeakers market in Iceland

The Icelandic Hifi Loudspeakers eCommerce market is predicted to reach US$2.7 million by 2024 and accounts for 47.7% of the Loudspeakers eCommerce market in Iceland. 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 -11.2%, resulting in a projected market volume of US$1.7 million by 2028. The Hifi Loudspeakers eCommerce market is a sub-market of the Loudspeakers market. Further categories within the Loudspeakers market are: Bluetooth Loudspeakers, and Other Loudspeakers.

eCommerce revenue development in the Hifi Loudspeakers market in Iceland

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 Hifi Loudspeakers market in Iceland

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 %)83.791.664.431.753.384.233.733.0

Online share

eCommerce online share of the total Hifi Loudspeakers 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 Hifi Loudspeakers retail market, the online share is 39.5% and will increase by an average of 3.0% to 44.5% by 2028.

eCommerce online share of the total Hifi Loudspeakers market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)89.5%75.9%59.1%62.4%80.1%27.7%33.7%92.9%

Market definition

Definition of the Hifi Loudspeakers market within the Electronics market

Market definition: Electronics > Consumer Electronics > Audio > Loudspeakers > Hifi Loudspeakers The category Hifi Loudspeakers includes the online trade of floorstanding hifi loudspeakers, bookshelf hifi loudspeakers, hifi tower speakers, and more. This category does not cover bluetooth loudspeakers, record players or cd players. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Floorstanding hifi loudspeakers
  • Bookshelf hifi loudspeakers
  • Hifi tower speakers
  • Wireless hifi speakers
  • Hifi surround sound systems
  • Retro or vintage hifi speakers

Out-of-scope

  • Bluetooth Loudspeakers
  • Record players
  • CD players

Market comparison

The Icelandic Hifi Loudspeakers market in a global comparison

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

in %

Source: ECDB analysis

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