Advanced Technology

The Turkish technology market has significant growth potential as a technology-driven young population continues to buy consumer electronics, software and products. IT spending on hardware, software, IT services and telecommunication services reached $27.5 billion in 2018. With a large domestic market and sizeable potential, spending in the ICT sector is expected to grow faster than the global average with an emphasis on various niche markets including for M2M communications, fiber optics, blockchain solutions, artificial intelligence and wireless equipment and services.

There is a growing awareness of Smart City market potential in Turkey including in the areas of Cyber Security, Smart Energy, Smart Environment, Smart Health, Smart Mobility/ Transportation, Smart Governance and Smart Infrastructure. Earlier this year the government released a National Smart Cities Strategies and Action Plan for 2019 - 2022 as a first step in developing and implementing smart technologies throughout the country.

Economic updates from Turkey