Ken Research has announce latest publication on, “ICT investment trends in Turkey; Enterprise ICT spending patterns through to the end of 2017“ which detailed scope of ICT sector in Turkey. The report discusses survey result of ICT investment and expenditure scenario in the country. The report highlight strategies of the companies to allocate ICT budget to maximize the profits. It also direct foreign investment trend in the IT sector of Turkey and future government plans for the development of the sector.
ICT is on its infancy stage in Turkey and showcasing CAGR of 3.5% for the next five years which signify less contribution of the sector in the other industries and presence of further expansion opportunities for the players. Turkish government is working on the area to promote ICT in all the sectors to take part in the technologically well equipped countries worldwide. Government is expecting to increase ICT share in GDP from 2.9% to 8.0% in next 10 years.
The Information and communication technologies (ICT) sector has become an essential part of the economy, in particular social life, since it is directly or indirectly affecting the ever-changing business world. Turkey is well aware of the fact that this sector will have a much more influential role in the future than it currently has. Searches for solutions brought about by this development and growth, which are appropriate for the requirements of today, and the efforts to enable today’s economic and social life to acquire these most up-to-date and fast solutions instantly, together form the basis of information and communications technology, since these solution searches basically require the utmost efficient utilization of both time and physical resources. In this regard, Turkey has increased its interest in the ICT sector further, and started the necessary studies so as to have a voice in the sector in the future. The greatest indicators of these efforts are the new initiatives and R&D Law issued for the investors.
With the rising adoption of smartphone and internet penetration, scope for ICT is expanding. E-commerce is another driving force for the ICT industry where hardware and software technologies are rapidly upgrading. It is expected that ICT spending in Turkey will grow at a faster rate than world average led by internet penetration in the turkey which is almost 50% and expected to grow even more by 2020.
Topics Covered in the report
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Ankur Gupta, Head Marketing & Communications