Social Media Advertising - Turkey

Turkey

Highlights

In Turkey, ad spending in the Social Media Advertising market market is projected to reach US$420.70m in 2024.
The ad spending in this market is anticipated to exhibit an annual growth rate (CAGR 2024-2030) of 10.63%, leading to a projected market volume of US$771.40m by 2030.
In a global context, the majority of ad spending will be produced China, which is expected to reach US$84.65bn in 2024.
Within the Social Media Advertising market market in Turkey, it is estimated that 63% of total ad spending will be generated through mobile by 2030.
Additionally, the number of users in the Social Media Advertising market market in Turkey is expected to total 76.7m users by 2030.
In Turkey, social media advertising is increasingly becoming a pivotal strategy for brands to engage younger demographics and navigate a dynamic digital landscape.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Social Media Advertising market in Turkey has been experiencing significant growth in recent years. Customer preferences are shifting towards digital platforms, leading to increased demand for social media advertising. This trend is driven by several factors, including the growing popularity of social media platforms among Turkish consumers, the rise of e-commerce, and the increasing availability of affordable internet access.

Customer preferences: Turkish consumers have embraced social media platforms, with a large portion of the population actively using platforms such as Facebook, Instagram, and Twitter. This has created a vast audience for advertisers to target, making social media advertising an attractive option for businesses looking to reach a wide range of potential customers. In addition, the rise of e-commerce in Turkey has contributed to the growth of the social media advertising market. As more Turkish consumers shop online, businesses are recognizing the need to promote their products and services on digital platforms. Social media advertising allows businesses to reach their target audience directly and drive traffic to their online stores.

Trends in the market: One of the key trends in the social media advertising market in Turkey is the increasing use of influencer marketing. Influencers, who have a large following on social media platforms, are seen as trusted sources of information and recommendations. Turkish consumers are increasingly turning to influencers for product recommendations and reviews, making influencer marketing an effective strategy for businesses looking to reach their target audience. Another trend in the market is the growing use of video content in social media advertising. Video content has proven to be highly engaging and effective in capturing the attention of users. Turkish consumers are spending more time watching videos on social media platforms, and businesses are adapting their advertising strategies to include video content to better engage with their target audience.

Local special circumstances: Turkey has a young and tech-savvy population, with a high percentage of internet users. This has created a favorable environment for the growth of social media advertising, as Turkish consumers are comfortable using digital platforms and are receptive to online advertising. Furthermore, Turkish businesses are increasingly recognizing the importance of social media advertising in reaching their target audience. As competition in the market grows, businesses are investing more in social media advertising to stay ahead of their competitors and increase their brand visibility.

Underlying macroeconomic factors: The growth of the social media advertising market in Turkey is also influenced by underlying macroeconomic factors. Turkey has experienced steady economic growth in recent years, which has led to an increase in consumer spending power. This has resulted in higher demand for products and services, driving businesses to invest in advertising to capture a larger share of the market. Additionally, the increasing availability of affordable internet access has played a significant role in the growth of the social media advertising market. As more Turkish consumers gain access to the internet, they are spending more time on social media platforms, creating a larger audience for advertisers to target. In conclusion, the Social Media Advertising market in Turkey is experiencing significant growth due to shifting customer preferences towards digital platforms, the rise of e-commerce, and the increasing availability of affordable internet access. Businesses are adapting their advertising strategies to include influencer marketing and video content to better engage with their target audience. The young and tech-savvy population in Turkey, along with steady economic growth and increased consumer spending power, are driving the growth of the social media advertising market in the country.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on social media advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers social media advertising generated by social networks or business networks such as Facebook, Tiktok, Instragram, Pinterest, and LinkedIn.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global social media advertising by aggregating revenues from key players (Meta Platforms (Facebook and Instagram), ByteDance (Tiktok and Douyin), Twitter, Snapchat, and Microsoft (LinkedIn)). Followed by the bottom-up approach, we justify global, country, and region results using web traffic and the number of app downloads. Lastly, we distribute the results to each country individually with relevant indicators such as GDP, internet users, social media users, and digital consumer spending by country.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.