Turkey ICT Market Size

Turkey ICT Market Analysis

The Turkey ICT Market is expected to grow at a CAGR of 9.3% for the forecast period. Spending on software and services held up well, and cloud computing had considerable growth in several regions. Systems integration, consulting, and computer programming are the major industries contributing most to the sales of conventional IT services.

• The young population of Turkey continues to fuel demand for cellular voice and internet services, as well as sales of PCs, tablets, phones, and consumer goods. It's anticipated that the audio-visual market will expand. With the growth of IoT and Industry 4.0, the use of new developing technologies, including Machine-to-Machine (M2M) connections, AI, blockchain, and robots, will also continue to increase.
• Blockchain, artificial intelligence, big data, 5G, and other networking technologies will significantly impact the sector in the upcoming years. Turkey's funding options for 5G development attract investment in the telecom industry. Izmir, Istanbul, Ankara, and Antalya are the significant places where operators would initially try to introduce 5G service, while 4G will still be widely used elsewhere. Although it has not yet been announced, a spectrum auction for 5G frequencies is anticipated to occur within the coming year.
• Turkey presents a market that is both promising and sometimes difficult and complex. Due to the country's current digital services tax (DST), local content requirements, and social media platforms' limitations, it becomes increasingly more work for foreign businesses to operate in Turkey. Nevertheless, upcoming large-scale projects, the GoT's 2019-2023 strategic plan, and national 5G ambitions provide possibilities for the United States businesses in this industry.
• Turkey has developed a robust online shopping culture in recent years. E-commerce has become an integral part of the consumer's life due to the convenience of digital gadgets, which eliminate the need to go to the shop and allow users to quickly compare costs and choose the best solutions for their budget. As a result, the primary driving force behind internet buying in the nation is the chance to find more affordable costs.
• ICT has advanced much further because of COVID-19, considering the growth of e-commerce and smart working in Turkey. However, the pandemic has also caused reduced investment, fewer managerial functions, digital manufacturing, automation, and other factors that might be detrimental to the technology market. Regardless, the country is looking into measures to restore economic activity gradually.