Hobby & Leisure market in Montenegro
The Montenegrin Hobby & Leisure eCommerce market is predicted to reach US$27.1 million by 2024 and accounts for 26.4% 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 8.8%, resulting in a projected market volume of US$38.0 million by 2028. Within the Hobby & Leisure market ECDB considers the following twelve sub-markets: Media, Sports Equipment, Pet Supplies, Toys, Stationery, Crafts & Art Supplies, Bullion & Precious Metal, Camping & Adventure, Musical Instruments, Flowers & Gifts, Other Hobby & Leisure, Erotic & Adult, and Smoking Supplies.
Market development
eCommerce revenue development in the Musical Instruments market in Montenegro
The Montenegrin Musical Instruments eCommerce market is predicted to reach US$0.9 million by 2024 and accounts for 3.2% of the Hobby & Leisure 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 5.8%, resulting in a projected market volume of US$1.1 million by 2028. The Musical Instruments eCommerce market is a sub-market of the Hobby & Leisure market. Further categories within the Hobby & Leisure market are: Bullion & Precious Metal, Camping & Adventure, Erotic & Adult, Flowers & Gifts, Media, Other Hobby & Leisure, Pet Supplies, Smoking Supplies, Sports Equipment, Stationery, Crafts & Art Supplies, and Toys.
eCommerce revenue development in the Musical Instruments market in Montenegro
eCommerce revenue growth in the Musical Instruments market in Montenegro
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 92.2 | 9.9 | 28.1 | 94.2 | 10.9 | 6.2 | 96.8 | 20.1 |
Market definition
Definition of the Musical Instruments market within the Hobby & Leisure market
Market definition: Hobby & Leisure > Musical Instruments The category Musical Instruments covers the sale of guitars, keyboards and pianos, drums and percussions, and more. This category does not cover music software and technology, instrument maintenance and repair or music lessons and educational resources. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Guitars
- Keyboards and pianos
- Drums and percussions
- Wind instruments
- String instruments
- Electronic instruments
- DJ equipment
- Amplifiers and effects
Out-of-scope
- Music software and technology
- Instrument maintenance and repair
- Music lessons and educational resources
Market comparison
The Montenegrin Musical Instruments market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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