Electronics market in the Philippines

The Philippine Electronics eCommerce market is predicted to reach US$4,186.4 million by 2024 and accounts for 24.5% of the total eCommerce market in the Philippines. 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 12.8%, resulting in a projected market volume of US$6,779.7 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 Bluetooth Loudspeakers market in the Philippines

The Philippine Bluetooth Loudspeakers eCommerce market is predicted to reach US$47.4 million by 2024 and accounts for 49.7% of the Loudspeakers eCommerce market in the Philippines. 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 13.9%, resulting in a projected market volume of US$79.7 million by 2028. The Bluetooth Loudspeakers eCommerce market is a sub-market of the Loudspeakers market. Further categories within the Loudspeakers market are: Hifi Loudspeakers, and Other Loudspeakers.

eCommerce revenue development in the Bluetooth Loudspeakers market in the Philippines

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 Bluetooth Loudspeakers market in the Philippines

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 %)90.330.546.739.254.36.13.065.3

Online share

eCommerce online share of the total Bluetooth Loudspeakers market in the Philippines

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 Philippine Bluetooth Loudspeakers retail market, the online share is 47.5% and will increase by an average of 5.8% to 59.6% by 2028.

eCommerce online share of the total Bluetooth Loudspeakers market in the Philippines

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)31.8%56.4%36.7%10.5%25.6%12.9%27.0%92.0%

Market definition

Definition of the Bluetooth Loudspeakers market within the Electronics market

Market definition: Electronics > Consumer Electronics > Audio > Loudspeakers > Bluetooth Loudspeakers The category Bluetooth Loudspeakers includes the online trade of portable bluetooth speakers, bluetooth stereo speakers, multiroom bluetooth speakers, and more. This category does not cover hifi loudspeakers, record players or cd players. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Portable bluetooth speakers
  • Bluetooth stereo speakers
  • Multiroom bluetooth speakers
  • Bluetooth soundbars
  • Smart bluetooth speakers

Out-of-scope

  • Hifi Loudspeakers
  • Record players
  • CD players

Market comparison

The Philippine Bluetooth Loudspeakers market in a global comparison

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

in %

Source: ECDB analysis

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