Smart Home - Turkey

Turkey

Turkey is projected to experience significant growth in the Smart Home market.
By 2024, the revenue in this market is expected to reach US$772.1m Turkish Lira.
Looking ahead, the market is anticipated to demonstrate an annual growth rate of 7.68% from 2024 to 2028, resulting in a projected market volume of US$1,038.0m Turkish Lira by 2028.
In terms of household adoption, the number of active Smart Home market households in Turkey is expected to reach [users_currentlayer_yearend] by 2028.
This indicates a household penetration rate of 15.3% in 2024, which is projected to increase to 29.5% by 2028.
The average revenue per installed Smart Home market in Turkey currently stands at US$186.10 Turkish Lira.
When comparing the global Smart Home market, it is worth noting that United States generates the highest revenue.
In 2024, the revenue United States is projected to reach US$38,800.0m.
Turkey's growing middle class is fueling the demand for smart home technology, with a focus on energy efficiency and security.

Key regions: United States, United Kingdom, Germany, Europe, Norway

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of smart home products, excluding taxes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use the Statista Global Consumer Survey, market data from independent databases and third-party sources, and Statista interviews with market experts. In addition, we use relevant key market indicators and data from country-specific associations, such as household internet penetration and consumer spending for households. 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 GDP/capita, level of digitization, and consumer attitudes toward smart home integration.

Additional notes:

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. The market is updated twice a year in case market dynamics change.