Turkey Information Technology Report Q1 2014 - New Market Research Report

From: Fast Market Research, Inc.
Published: Wed Dec 04 2013

BMI expects IT market sales in Turkey will continue to grow in the medium term, based on a solid foundation of economic growth and modernisation. A continued wave of investments by multinational sector players, such as Apple, testifies Turkey's IT market is expected to be a regional outperformer over our five-year forecast period to 2017. There was, however, a slowdown in the market in 2012 and the faltering domestic economic activity and regional economic and political uncertainty weighs on our short-and medium-term forecasts. The faltering domestic economic activity has to be placed in context, however. Looking beyond the dip in growth rates 2012-2014, we believe the market has strong fundamentals for medium-term growth. The inherent demographic profile advantage, coupled with sustained growth and consistent government push towards reforms, lends a bullish, long-term future for the IT sector in the country.

Full Report Details at
- http://www.fastmr.com/prod/723513_turkey_information_technology_report_q1_2014.aspx?afid=301

Computer Hardware: TRY11.23bn in 2013 to TRY11.57bn in 2014,+3.0% in local currency terms. Slower growth forecast on the basis of a weaker economic outlook and the depreciation in the Turkish lira is also factored. Despite these drags, robust growth will continue with consumer purchases and government investment in IT for education key drivers.

Software: TRY1.93bn in 2013 to TRY2.08bn in 2014, +7.7% in local currency terms. Arrival of Microsoft Windows 8 will provide a small boost, but enterprise software spending will continue to be the main driver of market growth.

Services And Cloud Computing: TRY2.70bn in 2013 to TRY2.89bn in 2014, +7.4% in local currency terms for services. Growing integration with the EU will edge Turkish companies towards increasingly embracing IT services. Refinement and maturity in cloud computing offerings by local and global vendors will make them attractive for corporates in general and SMEs in particular.

Key Trends & Developments

* Increasingly, Turkey is becoming an important regional hub for both hardware manufacturing and IT services. In April 2013 Indian IT services firm Tech Mahindra announced the launch of its new hub for Turkey and Central Asia in Istanbul. The hub will work as a near-shore centre for projects in the Middle East and Europe, while it will also focus on Turkey as a source of growth because of the young and cosmopolitan populations, meaning greater demand for IT services and solutions from domestic firms. The announcement from Tech Mahindra followed the opening of local manufacturing setups by global IT majors such as HP/Foxconn and strengthening of local operations by printer vendors such as Ricoh and Konica Minolta, which will improve affordability and service support.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Hungary Information Technology Report Q1 2014
- Slovenia Information Technology Report Q1 2014
- Indonesia Information Technology Report Q1 2014
- Philippines Information Technology Report Q1 2014
- Czech Republic Information Technology Report Q1 2014

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »