Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$1,707.7 million by 2023 and accounts for 25.2% of the total eCommerce market in Nigeria. 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 -31.0%, resulting in a projected market volume of US$387.1 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 Camera Lenses market in Nigeria

The Nigerian Camera Lenses eCommerce market is predicted to reach US$37.8 million by 2023 and accounts for 47.9% of the Cameras eCommerce market in Nigeria. 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 -33.8%, resulting in a projected market volume of US$7.3 million by 2027. The Camera Lenses eCommerce market is a sub-market of the Cameras market. Further categories within the Cameras market are: Action Cameras, Digital Cameras, and Other Cameras.

eCommerce revenue development in the Camera Lenses market in Nigeria

in million US$

eCommerce revenue growth in the Camera Lenses market in Nigeria

in %

Net eCommerce revenue split by sub-category

in %
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 %) 73.4 34.9 86.4 62.8 6.3 38.7 46.8 98.1

Online share

eCommerce online share of the total Camera Lenses market in Nigeria

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 Nigerian Camera Lenses retail market, the online share is 21.5% and will increase by an average of 19.4% to 43.7% by 2027.

eCommerce online share of the total Camera Lenses market in Nigeria

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 63.0% 70.6% 61.9% 34.6% 14.2% 99.1% 97.8% 79.4%

Market definition

Definition of the Camera Lenses market within the Electronics market

Market definition: Electronics > Consumer Electronics > Cameras > Camera Lenses The category Camera Lenses includes the online trade of interchangeable camera lenses, specialty lenses (e.g. fisheye lenses, tilt-shift lenses) and lens filters (e.g. uv filters, polarizing filters, color filters). This category does not cover digital cameras, action cameras (e.g. gopro, dji, insta360) or other cameras (e.g. analog camera, instant cameras, film cameras). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Interchangeable camera lenses
  • Specialty lenses (e.g. fisheye lenses, tilt-shift lenses)
  • Lens filters (e.g. UV filters, polarizing filters, color filters)

Out-of-scope

  • Digital cameras
  • Action cameras (e.g. GoPro, DJI, Insta360)
  • Other Cameras (e.g. analog camera, instant cameras, film cameras)
  • Lens accessories (e.g. lens adapters and mounts, lens caps and hoods, lens cloths)