Electronics market in South Korea

The South Korean Electronics eCommerce market is predicted to reach US$25,555.1 million by 2023 and accounts for 18.3% of the total eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -0.9%, resulting in a projected market volume of US$24,607.2 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 Cameras market in South Korea

The South Korean Cameras eCommerce market is predicted to reach US$885.3 million by 2023 and accounts for 5.0% of the Consumer Electronics eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be -6.7%, resulting in a projected market volume of US$669.7 million by 2027. The Cameras eCommerce market is a sub-market of the Consumer Electronics market. Further categories within the Consumer Electronics market are: Audio, Computing, Fitness Trackers, Game Consoles, Other Consumer Electronics, Printers & Scanners, TV & Video, and Telecommunications.

eCommerce revenue development in the Cameras market in South Korea

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 Cameras market in South Korea

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

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 7.0 94.9 54.4 54.2 28.0 55.6 87.4 40.7
AOV (in US$) 46.9 87.9 93.9 75.7 52.1 10.1 44.9 3.5
CVR (in %) 7.0 94.9 54.4 54.2 28.0 55.6 87.4 40.7
AOV: Average Order Value CVR: Conversion Rate

Online share

eCommerce online share of the total Cameras market in South Korea

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 South Korean Cameras retail market, the online share is 30.0% and will increase by an average of 0.6% to 30.7% by 2027.

eCommerce online share of the total Cameras market in South Korea

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 81.5% 73.7% 70.5% 17.4% 73.4% 69.4% 5.0% 57.8%

Market definition

Definition of the Cameras market within the Electronics market

Market definition: Electronics > Consumer Electronics > Cameras The category Cameras includes the online trade of digital cameras (e.g. compact digital cameras, slr cameras, mirrorless cameras), lenses (e.g. interchangeable camera lenses, specialty lenses) and action cameras (e.g. gopro, dji, insta360). This category does not cover webcams, drones or camera software and apps. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Digital Cameras (e.g. compact digital cameras, SLR cameras, mirrorless cameras)
  • Lenses (e.g. interchangeable camera lenses, specialty lenses)
  • Action Cameras (e.g. GoPro, DJI, Insta360)

Out-of-scope

  • Webcams
  • Drones
  • Camera software and apps