Electronics market in Nigeria

Market development

eCommerce revenue development in the Other Audio market in Nigeria

The Nigerian Other Audio eCommerce market is predicted to reach US$0.6 million by 2024 and accounts for 1.3% of the Audio 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 1.2%, resulting in a projected market volume of US$0.6 million by 2028. The Other Audio eCommerce market is a sub-market of the Audio market. Further categories within the Audio market are: Headphones, Hifi Equipment, and Loudspeakers.

eCommerce revenue development in the Other Audio market in Nigeria

in million US$

eCommerce revenue growth in the Other Audio market in Nigeria

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)99.78.313.69.459.098.072.81.2

Online share

eCommerce online share of the total Other Audio 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 Other Audio retail market, the online share is 27.4% and will increase by an average of 17.9% to 52.8% by 2028.

eCommerce online share of the total Other Audio market in Nigeria

in %
20202021202220232024202520262027
Online share (in %)82.4%56.6%34.5%89.5%72.9%84.7%71.3%23.2%

Market definition

Definition of the Other Audio market within the Electronics market

Market definition: Electronics > Consumer Electronics > Audio > Other Audio The category Other Audio includes the online trade of audio cables and connectors, audio switchers and distribution and voice recorders and dictation machines. This category does not cover car multimedia (e.g. car stereos, car audio systems, bluetooth car kits) and streaming services or subscriptions. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Audio cables and connectors
  • Audio switchers and distribution
  • Voice recorders and dictation machines

Out-of-scope

  • Car multimedia (e.g. car stereos, car audio systems, bluetooth car kits)
  • Streaming services or subscriptions