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 Fitness Trackers market in Nigeria
The Nigerian Fitness Trackers eCommerce market is predicted to reach US$9.7 million by 2024 and accounts for 2.8% of the Consumer Electronics 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 16.0%, resulting in a projected market volume of US$17.5 million by 2028. The Fitness Trackers eCommerce market is a sub-market of the Consumer Electronics market. Further categories within the Consumer Electronics market are: Audio, Cameras, Computing, Game Consoles, Other Consumer Electronics, Printers & Scanners, TV & Video, and Telecommunications.
eCommerce revenue development in the Fitness Trackers market in Nigeria
eCommerce revenue growth in the Fitness Trackers market in Nigeria
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 39.5 | 16.2 | 59.4 | 65.9 | 56.2 | 95.5 | 94.3 | 68.7 |
Market definition
Definition of the Fitness Trackers market within the Electronics market
Market definition: Electronics > Consumer Electronics > Fitness Trackers The category Fitness Trackers includes the online trade of fitness trackers (e.g. fitbit charge, garmin vivosmart, xiaomi mi band), kids' fitness trackers and specialized fitness wearables (e.g. running watches, cycling computers, and golf gps watches). This category does not cover smartwatches with fitness features, heart rate monitors or hybrid fitness watches. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Fitness trackers (e.g. Fitbit Charge, Garmin Vivosmart, Xiaomi Mi Band)
- Kids' fitness trackers
- Specialized fitness wearables (e.g. running watches, cycling computers, and golf GPS watches)
Out-of-scope
- Smartwatches with fitness features
- Heart rate monitors
- Hybrid fitness watches
- Fitness tracker apps and software
Market comparison
The Nigerian Fitness Trackers market in a global comparison
Market comparison by growth, online share, and revenue in 2023
Select sub-category