Electronics market in Montenegro

The Montenegrin Electronics eCommerce market is predicted to reach US$21.3 million by 2024 and accounts for 20.8% 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 2.2%, resulting in a projected market volume of US$23.3 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 Electronics market in Montenegro

The Montenegrin Electronics eCommerce market is predicted to reach US$21.3 million by 2024 and accounts for 20.8% 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 2.2%, resulting in a projected market volume of US$23.3 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

eCommerce revenue development in the Electronics 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 Electronics 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)47.931.552.266.047.226.076.77.0

Online share

eCommerce online share of the total Electronics 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 Electronics retail market, the online share is 37.3% and will increase by an average of 10.0% to 54.6% by 2028.

eCommerce online share of the total Electronics market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)79.2%36.5%67.4%78.6%55.7%40.2%54.5%68.8%

Market definition

Definition of the Electronics market

Market definition: Electronics The category Electronics covers the sale of consumer electronics (e.g. computers, smartphones, TVs, headphones, game consoles) and appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes) via digital channels. Online stores dedicated to the sale of mobile contracts and tariffs, set-up and installation services or software are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Consumer Electronics (e.g. computers, smartphones, TVs, headphones, game consoles)
  • Appliances (e.g. refrigerators, washing machines, vacuum cleaners, coffee machines, hair dryers, electric toothbrushes)

Out-of-scope

  • Mobile contracts and tariffs
  • Set-up and installation services
  • Software
  • Car electronics (e.g. navigation systems, car entertainment systems, dashcams)
  • Power tools

Market comparison

The Montenegrin Electronics market in a global comparison

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

in %

Source: ECDB analysis

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