DIY market in Montenegro

The Montenegrin DIY eCommerce market is predicted to reach US$9.5 million by 2024 and accounts for 8.9% of the total eCommerce market in Montenegro. 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 3.4%, resulting in a projected market volume of US$10.9 million by 2028. Within the DIY market ECDB considers the following three sub-markets: Tools & Construction Supplies, Vehicle Parts, and Garden.

Market development

eCommerce revenue development in the Car Multimedia market in Montenegro

The Montenegrin Car Multimedia eCommerce market is predicted to reach US$0.3 million by 2024 and accounts for 17.1% of the Car Parts eCommerce market in Montenegro. 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 0.7%, resulting in a projected market volume of US$0.3 million by 2028. The Car Multimedia eCommerce market is a sub-market of the Car Parts market. Further categories within the Car Parts market are: Car Tires, and Other Car Parts.

eCommerce revenue development in the Car Multimedia market in Montenegro

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 Car Multimedia market in Montenegro

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 %)46.571.226.248.526.481.959.930.8

Online share

eCommerce online share of the total Car Multimedia market in Montenegro

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 Montenegrin Car Multimedia retail market, the online share is 3.6% and will increase by an average of 11.5% to 5.6% by 2028.

eCommerce online share of the total Car Multimedia market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)97.9%70.2%57.1%29.7%76.1%76.0%51.0%81.9%

Market definition

Definition of the Car Multimedia market within the DIY market

Market definition: DIY > Vehicle Parts > Car Parts > Car Multimedia The category Car Multimedia includes the online trade of car stereos, car audio systems, car navigation systems, and more. This category does not cover car multimedia factory equipment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Car stereos
  • Car audio systems
  • Car navigation systems
  • Car video systems
  • Bluetooth car kits
  • Car amplifiers
  • Car speakers

Out-of-scope

  • Car multimedia factory equipment

Market comparison

The Montenegrin Car Multimedia market in a global comparison

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

in %

Source: ECDB analysis

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