Turkey IoT Market to be dominated by Smart Manufacturing segment till 2026
Rapid digitization across
industry verticals and technological advancements is expected to drive the
demand of Turkey IoT market for the forecast period.
According to TechSci Research report, “Turkey
IoT Market By Component (Hardware, Service, Software), By Type (B2B, B2C,
B2G), By Application (Smart Manufacturing, Consumer Electronics, Building &
Home Automation, Smart Mobility & Transportation, Connected Logistics,
Others), By Region, Competition Forecast & Opportunities, 2026”, the
Turkey IoT market is expected to grow at a significant growth for the forecast
period, 2022-2026. Internet of things or IoT refers to physical devices that
are connected over the internet or other communication networks and are
embedded with processing ability, sensors, software, and other advanced
technologies that can easily communicate with each other to generate smart
insights. IoT can be used for a wide range of applications including smart
grid, smart transportation & logistics, smart healthcare and therefore witness
high demand from all over the country. The ongoing and upcoming projects for
the development of smart cities are equipped with sensors and connected devices
by using smart technology and data analysis. Leading authorities are making
efforts to make smart cities such as the development of Izmir city as a smart
city to provide enhanced quality living standards to its citizens and improve
the economic status. A smart city uses the internet of things technology to
effectively communicate between the connected devices and end-users which in
turn is anticipated to fuel the demand of the Turkey IoT market for the next
five years. The introduction of smart applications in transportation and urban
services and providing access to the residents through the help of online
channels in form of e-government is promoting digitization across prominent
industry verticals. The huge expenditure by the government of Turkey for the
implementation of smart grid, intelligent street lighting, and smart metering
to efficiently manage the energy is contributing significantly to the Turkey
IoT market growth. Intelligent transport systems are being installed in several
cities of Turkey such as Ankara, Istanbul, and Izmir. The Ministry of
Transportation has elaborated in their action plan 2013-2023 that all cities
will implement the smart traffic light system according to the present traffic
density, digital traffic signs, green wave system, and others to provide an
enhanced consumer experience to its residents. The leading authorities are
focusing on minimizing the water losses incurred by the country.
However, privacy and data security concerns may
restrain the Turkey IoT market growth for the forecast period.
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Turkey
IoT market is segmented into component, type, application, regional
distribution, and company. Based on application, the market can be segmented
into smart manufacturing, consumer electronics, building & home automation,
smart mobility & transportation, connected logistics, and others. The smart
manufacturing segment is expected to account for major market share for the
forecast period, 2022-2026. The advent of artificial intelligence, cloud
computing, big data, industry 4.0, and other advanced technologies and the
growing adoption of digitalization is aiding to increase the smart
manufacturing segment growth. The high rate of adoption of smart manufacturing
by the manufacturing industries owing to its benefits such as it can accurately
predict the requirements and thus helps to manage unnecessary expenses. Smart
manufacturing also helps in identifying the faults or errors and notifies the concerned
authorities beforehand which ensures a smooth workflow in the industries.
Hyperlink InfoSystem, Turkcell, epcsht,
Epigra, Kuka apps, Inspark, ikol Mobile, reengen, TrioMobil, Thales Group are the
leading players operating in Turkey IoT market. Service providers are
increasingly focusing on research and development process to fuel higher growth
in the market. To meet evolving customer demand with respect to better
efficiency and durability, several IoT service providers are coming up with
their technologically advanced offerings.
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“The
development of advanced wireless technologies ZigBee, Bluetooth, Digital
Enhanced Cordless Telecommunications, and the growing adoption of pear-to-pear
solutions such as AllSeen which allows direct device-to-device communication is
allowing more devices to be connected. The high-end investments by the market
players for the advancement of high-speed network connectivity and the research
and development activities for making more efficient connected devices to
improve the economic status of the country are expected to accelerate the
market growth. The rapid growth of the industries and the growing awareness
about the benefits of using smart technology is expected to propel the Tukey
IoT market growth till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Turkey IoT Market By
Component (Hardware, Service, Software), By Type (B2B, B2C, B2G), By
Application (Smart Manufacturing, Consumer Electronics, Building & Home
Automation, Smart Mobility & Transportation, Connected Logistics, Others),
By Region, Competition Forecast & Opportunities, 2026” has
evaluated the future growth potential of Turkey IoT market and provided
statistics & information on market size, shares, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the of Turkey IoT market.
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