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Turkey Consumer Electronics Report Q2 2011
Business Monitor International, March 2011, Pages: 50
Turkey Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Turkey's consumer electronics industry.
Turkey’s domestic consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is projected to be worth about US$8.2bn in 2011. In early 2011, confidence in general economic conditions compared to three or six months prior augured well for Turkish consumers' willingness to spend on durable goods. Demand is expected to increase at a CAGR of 9.5% to US$12.6bn by 2015, driven by growing popularity of digital lifestyle devices such as LCD TV sets, notebook computers and digital cameras, as well as rising incomes and lower prices.
Digital camera penetration is expected to pass 80% by 2012 and PC penetration is projected to pass 33% by 2015, while mobile subscriber penetration has passed 80%.We believe macroeconomic fundamentals are supportive of the ongoing rise of Turkish households, with strong manufacturing activity paving the way for relative job security and positive consumer sentiment towards economic conditions. The Turkish banking sector is well positioned to expand consumer credit, which will help counter the threat from looming interest rate hikes and fiscal austerity measures.
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