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Turkey Consumer Electronics Report Q3 2011
Business Monitor International, June 2011, Pages: 50
Business Monitor International's 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$8.3bn 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$13.2bn 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.
In 2011, BMI projects that the consumer electronic market will benefit from strong the purchasing power of the Turkish consumer, as credit growth continued to head higher in February 2011. The report believes that macroeconomic fundamentals are supportive of the ongoing rise of Turkish household spending. 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%.
Computer hardware accounted for about 61% of Turkey’s consumer electronics spending in 2010 and will continue to be the largest product segment. BMI forecasts Turkish computer hardware sales of US$5.1bn in 2011, up from US$4.5bn in 2010. Computer hardware CAGR for the 2011-2015 period is forecast at about 10.3%, in the context of 10% PC penetration and driven by sales of notebooks and netbooks.
AV devices accounted for about 22% of Turkey’s consumer electronics spending in 2010. Turkey’s domestic AV device market is estimated at US$1.8bn in 2011. Turkey’s evolution towards digital TV services will help drive a 2011-2015 CAGR of 7.2%, with video devices such as TV sets, digital cameras and VCR players accounting for more than 80% of demand.
Mobile handset sales accounted for about 17% of Turkey’s consumer electronics spending in 2010. Turkey’s market handset sales are expected to grow at a CAGR of 9.4% to US$2.4bn in 2015. Sales will be dominated by the replacement market, with smartphones accounting for about one-third of Turkish handset market revenues in 2010. Turkcell, reported that the number of contracted smartphone sales through its sales channels increased by 211% in 2010 year-on-year (y-o-y).
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