Size of Türkiye’s ICT market reaches $25 billion: Report

Size of Türkiye’s ICT market reaches $25 billion: Report

Size of Türkiye’s ICT market reaches $25 billion: Report

The market size of Türkiye’s Information and Communication Technologies (ICT) grew by 54 percent from 2021 to reach 409 billion Turkish Liras ($24.7 billion) last year.

That beat the initial forecasts of more than 10 percent growth in 2022.

The market’s expected growth in 2023 is above 10 percent, according to a report by the Informatics Industry Association (TÜBİSAD).

The ICT industry expanded on average 25.2 percent between 2018 and 2022 with its size growing from 133 billion liras five years ago.

The size of the communication technologies market grew from 151 billion liras in 2021 to 214 billion liras last year, while the information technologies market reached a market size of 195 billion liras from 114 billion liras.

The hardware sector grew by 93.5 percent last year compared with 2021 to 84.2 billion liras. The software industry’s market size reached 80 billion liras, recording a 57 percent increase. The services sector’s growth rate was 54 percent to 31 billion liras, according to the report.

In the communication technologies segment, the market size of the electronic communications expanded 41 percent to 130.3 billion liras while hardware grew 32 percent to 84 billion liras.

There were a total of 92 technocities in Türkiye as of last year, rising from 87 in 2021 with the number of companies operating in those zones increasing from 7,000 to 8,972.

Those companies boosted their employment by 17 percent in 2022 compared to 2021 to have more than 93,000 staff.

Total revenues of those technocity companies increased by 46 percent to 75.6 billion liras, while their export revenues amounted to 19.9 billion liras, rising from 13.3 billion liras in 2021.

Exports per technocity stood at 205 million liras, pointing to more than 41 percent increase from 2021.

Total export revenues of the ICT industry climbed to 28.6 billion liras with the information technologies software sector accounting for 23.8 billion liras of all export revenues.

Employment in the ICT sector rose 15 percent to 213,000 people. Female employees accounted for 22 percent
of the whole workforce in the industry.

The information technologies companies boosted employment 17 percent to 171,000, while in the communication technologies sector employment increased 7 percent to 42,000.

The rate of sector players expecting a growth in employment in 2023 declined compared to 2022.