Electronics market in Nigeria

The Nigerian Electronics eCommerce market is predicted to reach US$511.0 million by 2024 and accounts for 23.0% of the total eCommerce market in Nigeria. 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 8.0%, resulting in a projected market volume of US$696.0 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 Camera Lenses market in Nigeria

The Nigerian Camera Lenses eCommerce market is predicted to reach US$10.5 million by 2024 and accounts for 47.1% of the Cameras eCommerce market in Nigeria. 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 0.5%, resulting in a projected market volume of US$10.7 million by 2028. 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$

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 Camera Lenses market in Nigeria

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 %)88.951.122.227.34.255.677.290.9

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 27.8% and will increase by an average of 15.9% to 50.1% by 2028.

eCommerce online share of the total Camera Lenses market in Nigeria

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)9.1%53.4%77.0%10.2%49.4%12.8%0.4%35.2%

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)

Market comparison

The Nigerian Camera Lenses market in a global comparison

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

in %

Source: ECDB analysis

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