Audio & Visual Electronics Segment to Lead Turkey Consumer Electronics and Appliances Market
The high internet
penetration rate, the proliferation of smart devices, and the integration of
smart technologies will create new growth opportunities for Turkey's consumer
electronics and appliances market during the forecast period.
According to TechSci Research report, “Turkey Consumer Electronics and Appliances Market- By Region, Competition
Forecast and Opportunities, 2017-2027,”
the Turkey's
consumer electronics and appliances market has expanded significantly in recent
years. Turkey is a desirable location for investments because of the growing
activity in the construction sector and the subsequent demand for built-in
products, mainly due to increasing complex apartment construction.
Consumers are investing
in the purchase of high-end appliances as they become more aware of the
advantages of using consumer electronics and appliances. The Turkish consumer
electronics and appliances market is primarily driven by the expanding
residential sector and benevolent government policies.
Additionally, it is
anticipated that the Turkish consumer electronics and appliances market will
experience new growth opportunities during the forecast period due to the high
internet penetration, proliferation of smart devices, and incorporation of smart technologies like the
internet of things and artificial intelligence.
Families in the middle
class are seeing an increase in their income levels, which allows them to
invest more in comfortable living arrangements and furnishings. To satisfy
expanding consumer demands, businesses are developing high-performing,
simple-to-use devices.
Market players are
investing in creating an effective supply chain and inventory and implementing
e-commerce websites to sell their goods to remote areas. The availability of a
wide range of products and an increase in consumer electronics and appliance
usage are anticipated to drive the demand for the Turkish consumer electronics
and appliances market during the forecast period.
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data Figures spread through 70 Pages and an in-depth TOC on "Turkey Consumer Electronics and Appliances Market "
The Turkey consumer
electronics and appliances market is segmented into type, distribution channel,
and region.
Based on type, the market is
segmented into audio & visual electronics, home appliances, kitchen
appliances, and personal care. Among these, audio & visual electronics hold
the leading share in the market during the forecast period. The segment demand
is driven by the availability of high-quality audio and visual electronic
accessories at affordable prices and consumers' expanding purchasing power. Consumer
electronics and appliance sales are anticipated to increase nationwide due to adoption
of appealing marketing strategies by market participants and online sales
channels.
Based on distribution
channel, the market is segmented into multi-branded stores,
supermarkets/hypermarkets, online, and others (direct sales, exclusive stores,
etc.). Among these, the online segment is the fastest-growing segment in the market
during the forecast period because online stores offer attractive product
discounts. In online stores, consumers can also differentiate the products and
prices from other products. The easy availability of consumer electronics and
appliances in online stores is driving the Turkish consumer electronics and
appliances market growth.
On the basis of regional
analysis, the market is segmented into Marmara, Central Anatolia, Mediterranean,
Aegean, Southeastern Anatolia, Black SeaB, and Eastern Anatolia. Among these,
the Marmara region holds the leading share in the market during the forecast
period due to changing lifestyles and the increasing working population, which
fuels the demand for the consumer electronics and appliances market in Turkey.
Major companies operating
in the Turkey consumer electronics and appliances market are:
·
Samsung Electronics Istanbul Paz ve Tic Ltd Sti
·
LG Electronics Ticaret A.Ş.
·
Apple Teknoloji ve Sas Ltd Sti
·
Evofone Bilgi Teknolojileri San Ltd Sti (Xiaomi)
·
Huawei Telekomunikasyon Dis Tic Ltd Sti
·
Oppo Turkey Telekomunikasyon Tic Ltd Sti
·
Telpa Telekomunikasyon Tic AS (General Mobile)
·
Lenovo Turkiye
·
BBK Electronics Corp Ltd
·
Nokia Turkiye
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“Creating energy-efficient appliances
responds to environmental concerns over rising pollution and global warming.
Due to technological advancements in line with this trend, Turkish
manufacturers may experience significant gains over the forecast period.
Additionally, it is anticipated that regulatory bodies will consider such a
portfolio in the industry, which could quicken Turkey's current growth rate.
The growing number of online retailers and the advancements made in
next-generation devices for better consumer convenience, connectivity, and
energy-saving features will likely present a potential growth situation.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
Turkey Consumer
Electronics and Appliances Market By
Type (Audio & Visual Electronics, Home Appliances, Kitchen Appliances and
Personal Care), By Distribution Channel (Multi-Branded Stores,
Hypermarkets/Supermarkets, Online and Others (Direct Sales, Exclusive Stores,
etc.)), By Region Competition Forecast
& Opportunities, 2017-2027, has evaluated the future growth potential of Turkey consumer
electronics and appliances market and provides statistics & information on
market size, 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 consumer
electronics and appliances market in Turkey.
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