Electronics market in Iceland

The Icelandic Electronics eCommerce market is predicted to reach US$197.7 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$196.9 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 Loudspeakers market in Iceland

The Icelandic Loudspeakers eCommerce market is predicted to reach US$5.8 million by 2024 and accounts for 47.6% of the Audio 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 -5.8%, resulting in a projected market volume of US$4.6 million by 2028. The Loudspeakers eCommerce market is a sub-market of the Audio market. Further categories within the Audio market are: Headphones, Hifi Equipment, and Other Audio.

eCommerce revenue development in the Loudspeakers market in Iceland

in million US$

eCommerce revenue growth in the Loudspeakers market in Iceland

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)70.413.377.55.564.838.84.82.3

Online share

eCommerce online share of the total 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 Loudspeakers retail market, the online share is 39.2% and will increase by an average of 3.8% to 45.4% by 2028.

eCommerce online share of the total Loudspeakers market in Iceland

in %
20202021202220232024202520262027
Online share (in %)40.5%10.0%17.4%63.3%17.5%30.9%84.9%27.7%

Market definition

Definition of the Loudspeakers market within the Electronics market

Market definition: Electronics > Consumer Electronics > Audio > Loudspeakers The category Loudspeakers includes the online trade of home audio speakers (e.g. bookshelf speakers, soundbars, subwoofers), bluetooth speakers (e.g. portable bluetooth speakers, bluetooth stereo speakers, smart bluetooth speakers), record players, and more. This category does not cover car multimedia (e.g. car stereos, car audio systems) and headphones. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Home audio speakers (e.g. bookshelf speakers, soundbars, subwoofers)
  • Bluetooth speakers (e.g. portable bluetooth speakers, bluetooth stereo speakers, smart bluetooth speakers)
  • Record players
  • CD players

Out-of-scope

  • Car multimedia (e.g. car stereos, car audio systems)
  • Headphones