Electronics market in Iceland

The Icelandic Electronics eCommerce market is predicted to reach US$192.0 million by 2024 and accounts for 21.9% of the total eCommerce market in Iceland. 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 0.1%, resulting in a projected market volume of US$192.7 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 Other Audio market in Iceland

The Icelandic Other Audio eCommerce market is predicted to reach US$0.1 million by 2024 and accounts for 0.8% of the Audio eCommerce market in Iceland. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -8.3%, resulting in a projected market volume of US$0.1 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 Iceland

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 Other Audio market in Iceland

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 %)5.366.237.610.19.619.721.066.8

Online share

eCommerce online share of the total Other Audio market in Iceland

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 Icelandic Other Audio retail market, the online share is 39.2% and will increase by an average of 4.8% to 47.3% by 2028.

eCommerce online share of the total Other Audio market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)97.4%64.2%60.8%44.5%39.7%65.8%49.3%74.5%

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

Market comparison

The Icelandic Other Audio market in a global comparison

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

in %

Source: ECDB analysis

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