Electronics market in Latvia

The Latvian Electronics eCommerce market is predicted to reach US$143.4 million by 2024 and accounts for 20.8% of the total eCommerce market in Latvia. 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 0.8%, resulting in a projected market volume of US$148.0 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 Digital Cameras market in Latvia

The Latvian Digital Cameras eCommerce market is predicted to reach US$0.9 million by 2024 and accounts for 38.9% of the Cameras eCommerce market in Latvia. 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 -13.6%, resulting in a projected market volume of US$0.5 million by 2028. The Digital Cameras eCommerce market is a sub-market of the Cameras market. Further categories within the Cameras market are: Action Cameras, Camera Lenses, and Other Cameras.

eCommerce revenue development in the Digital Cameras market in Latvia

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 Digital Cameras market in Latvia

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 %)49.749.970.753.122.691.368.333.9

Market definition

Definition of the Digital Cameras market within the Electronics market

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

In-scope

  • Compact digital cameras
  • SLR cameras
  • Mirrorless cameras
  • Bridge cameras

Out-of-scope

  • Lenses (e.g. interchangeable camera lenses, specialty lenses)
  • Action cameras (e.g. GoPro, DJI, Insta360)
  • Camera accessories (e.g. Camera Bags, Camera Batteries and Chargers, Tripods, Monopods, Camera Straps)
  • Camera flashes and lighting equipment

Market comparison

The Latvian Digital Cameras market in a global comparison

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

in %

Source: ECDB analysis

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