AR & VR - Turkey

Turkey

In Turkey, revenue in the AR & VR market market is projected to reach US$216.0m in 2024.
This revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.52%, resulting in a projected market volume of US$340.4m by 2029.
The largest market within this market in Turkey is AR Software, which will have a market volume of US$67.2m in 2024.
Most revenue is anticipated to be generated the United States, with a projected market volume of US$10,900.0m in 2024.
In the AR & VR market market, the number of users in Turkey is expected to amount to 43.5m users by 2029.
User penetration will stand at 47.9% in 2024 and is expected to increase to 49.1% by 2029.
The average revenue per user (ARPU) in Turkey is expected to reach US$5.2.
Turkey is witnessing a burgeoning interest in AR and VR technologies, driven by a youthful population eager to embrace innovative digital experiences.

Definition:

Augmented reality (AR) and virtual reality (VR) make it possible to combine the real and virtual worlds. AR is generally accessed via mobile phones and primarily relies on lenses. AR effects can be created by using lenses in social media apps, for example. AR is also used for displaying digital 3D objects in our surroundings, e.g., in gaming or eCommerce apps. Meanwhile, VR technology allows users to dive into the virtual world, and, unlike AR technology, it requires a headset device which enables the creation of virtual worlds.

Structure:

The AR & VR market consists of six different markets: AR Advertising, AR Hardware, AR Software, VR Advertising, VR Hardware, and VR Software. AR Advertising covers mobile advertising that is displayed in the most prominent social media apps. AR Hardware comprises AR headsets and glasses. AR Software is divided into three different application types, namely social media, gaming, and eCommerce applications, which can be accessed via the most prominent app stores. VR Advertising covers in-game advertising as well as advertising in VR videos. VR Hardware comprises both tethered head-mounted displays (HMDs) and stand-alone HMD headsets. Lastly, VR Software covers VR games and VR videos, which require headsets.

Additional information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through in-app purchases, advertising spending, and consumer spending on apps, games, and hardware such as headsets or glasses. Sales channel data shows both online and offline revenues, which include VAT. The market only displays B2C revenues and users for the above-mentioned markets and markets; B2B and B2G revenues are not included. Additional definitions for each market can be found on the respective market pages.
Market numbers for VR headsets are also featured in the Consumer Market Insights, namely in the Gaming Equipment market of the Consumer Electronics market. Unlike the VR Hardware market in the Advertising & Media Outlook, the Gaming Equipment market also covers smartphone VR devices.
Key players in the market include companies such as Meta (Oculus VR), Microsoft (HoloLens), Snap Inc. with different lenses, and Nvidia, which offers computing hardware components.
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Analyst Opinion

The AR & VR market in Turkey is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Turkey are playing a crucial role in the growth of the AR & VR market.

Turkish consumers are increasingly seeking immersive and interactive experiences, and AR & VR technologies provide just that. These technologies allow users to explore virtual worlds, interact with virtual objects, and enhance their overall experience. With the rise of social media and online gaming, Turkish consumers are also looking for ways to connect and engage with others in virtual environments, and AR & VR technologies offer a solution to this demand.

Trends in the market are also contributing to the development of the AR & VR market in Turkey. The increasing availability and affordability of AR & VR devices, such as headsets and smartphones, have made these technologies more accessible to a wider audience. This has led to a growing number of AR & VR applications and content being developed specifically for the Turkish market.

Additionally, the integration of AR & VR technologies in various industries, such as education, healthcare, and tourism, is driving the adoption of these technologies in Turkey. Local special circumstances in Turkey are further fueling the growth of the AR & VR market. The Turkish government has recognized the potential of AR & VR technologies and has been actively supporting their development.

Initiatives such as the Digital Transformation Office and the Digital Turkey Platform have been established to promote the adoption of emerging technologies, including AR & VR, in various sectors of the economy. This support from the government has created a favorable environment for the growth of the AR & VR market in Turkey. Underlying macroeconomic factors are also contributing to the development of the AR & VR market in Turkey.

The country's young and tech-savvy population, coupled with increasing internet penetration, provides a strong foundation for the adoption of AR & VR technologies. Furthermore, Turkey's strategic location between Europe and Asia makes it an attractive market for AR & VR companies looking to expand their presence in the region. In conclusion, the AR & VR market in Turkey is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Turkish consumers' desire for immersive and interactive experiences, coupled with the increasing availability and affordability of AR & VR devices, is driving the adoption of these technologies. The support from the government and the country's favorable macroeconomic factors further contribute to the growth of the AR & VR market in Turkey.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the AR & VR market. AR and VR enable consumers to experience a new dimension, using either a headset or installed units, as they combine the real and virtual worlds. Consumer revenue figures refer to revenues relating to AR hardware, AR software, VR hardware, VR software, and spending on AR and VR advertising. Both digital and non-digital revenues are included.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, as well as third-party studies and reports. In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending, internet penetration, 4G coverage, and historical developments. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are level of digitalization, adoption of technology, GDP per capita, and internet penetration.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).