Electronics market in Montenegro

The Montenegrin Electronics eCommerce market is predicted to reach US$21.3 million by 2024 and accounts for 20.8% of the total eCommerce market in Montenegro. 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 2.2%, resulting in a projected market volume of US$23.3 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 Consumer Electronics market in Montenegro

The Montenegrin Consumer Electronics eCommerce market is predicted to reach US$14.0 million by 2024 and accounts for 65.7% of the Electronics eCommerce market in Montenegro. 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 1.1%, resulting in a projected market volume of US$14.6 million by 2028. The Consumer Electronics eCommerce market is a sub-market of the Electronics market. Further categories within the Electronics market are: Electrical Appliances.

eCommerce revenue development in the Consumer Electronics market in Montenegro

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 Consumer Electronics market in Montenegro

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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)92.996.97.014.473.660.880.451.0
as of Electronics (in %)1.21.31.31.41.41.51.51.61.61.71.81.8

Online share

eCommerce online share of the total Consumer Electronics market in Montenegro

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 Montenegrin Consumer Electronics retail market, the online share is 36.3% and will increase by an average of 10.3% to 53.7% by 2028.

eCommerce online share of the total Consumer Electronics market in Montenegro

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)7.1%58.8%2.3%9.3%82.0%5.2%71.7%12.2%

Market definition

Definition of the Consumer Electronics market within the Electronics market

Market definition: Electronics > Consumer Electronics The category Consumer Electronics includes the online trade of computers, TVs, smartphones, and more. Online stores dedicated to the sale of household appliances, personal care appliances or mobile contracts and tariffs are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Computers
  • TVs
  • Smartphones
  • Cameras
  • Headphones
  • Loudspeakers
  • Printers
  • Scanners
  • Game Consoles
  • Wearables

Out-of-scope

  • Household appliances
  • Personal care appliances
  • Mobile contracts and tariffs
  • Set-up and installation services
  • Software

Market comparison

The Montenegrin Consumer Electronics market in a global comparison

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

in %

Source: ECDB analysis

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