Artificial Intelligence - Turkey

Turkey

The market size in the Artificial Intelligence market is projected to reach US$1.62bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.72%, resulting in a market volume of US$7.37bn by 2030.
In global comparison, the largest market size will be in the United States (US$50.16bn in 2024).

Definition:
Artificial intelligence (AI) is a branch of computer science that focuses on creating machines able to perform tasks traditionally requiring human intelligence, such as perception, reasoning, and learning. The Artificial Intelligence (AI) market includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The Artificial Intelligence (AI) market includes software, hardware, and services that enable organizations to develop and deploy AI applications.

Structure:

The Artificial Intelligence (AI) market is structured into six markets based on the technology:

The Computer Vision market covers applications that enable computers to interpret and understand digital images and video data.
The Machine Learning market covers the use of algorithms to enable computer systems to learn from data.
The Natural Language Processing market covers applications that enable computers to understand, interpret, and generate human language.
The Artificial Intelligence Robotics market covers the combination of AI, machine learning, and engineering to create intelligent machines that can perform tasks autonomously.
The Autonomous & Sensor Technology market covers machines and systems that operate independently by using sensors, AI, and machine learning to respond to changes in their environment.
The Generative AI market covers artificial intelligence that involves creating models capable of generating new content, such as images, videos, and text, which are indistinguishable from content created by humans.

Additional Information:

The Artificial Intelligence (AI) market comprises three key performance indicators: market sizes, market sizes by industry, and users of AI tools. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the Artificial Intelligence (AI) market include companies such as Google, Open AI, IBM, and Microsoft.

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Analyst Opinion

The Artificial Intelligence market in Turkey is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, growing awareness of AI's potential, and the convenience of online services. Its elevated growth rate can be attributed to a combination of AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI, which are all contributing to the market's expansion.

Customer preferences: As technology continues to advance, Turkish consumers are increasingly embracing AI-powered solutions for everyday tasks, from virtual assistants to smart home devices. This is driven by a growing demand for convenience and efficiency in a fast-paced society. Additionally, the rise of e-commerce and online shopping has led to an increased need for AI-driven personalization and recommendation systems, catering to consumers' diverse preferences and interests. Furthermore, the use of AI in customer service and chatbots is becoming more prevalent, offering round-the-clock support and enhancing overall customer experience.

Trends in the market: In Turkey, the Artificial Intelligence market is experiencing a surge in demand for autonomous vehicles and smart city solutions. This trend is expected to continue as the government invests in infrastructure to support these developments. Additionally, there is a growing use of AI in healthcare, with hospitals implementing AI-powered tools for diagnosis and treatment. This trend is significant for industry stakeholders as it presents opportunities for growth and innovation. However, it also raises concerns about job displacement and ethical considerations surrounding AI use. Overall, the trajectory of these trends in Turkey highlights the country's commitment to embracing advanced technologies and its potential to become a leader in the AI market.

Local special circumstances: In Turkey, the Artificial Intelligence market is thriving due to the country's strategic location between Europe and Asia, making it a hub for technological advancement. Additionally, the government's focus on promoting innovation and entrepreneurship has led to a surge in startups and research centers focused on AI. This, coupled with a growing tech-savvy population, has created a conducive environment for the growth of the AI market. Furthermore, Turkey's unique cultural heritage has influenced the development of AI solutions tailored to the local market, such as language processing technologies for Turkish.

Underlying macroeconomic factors: The Artificial Intelligence market in Turkey is heavily influenced by macroeconomic factors such as government initiatives and investments in technology, as well as the country's economic stability and growth. With the increasing adoption of AI technologies across various industries, the Turkish government has introduced policies and incentives to promote AI innovation and development. Furthermore, the country's strong economic growth and stable financial indicators have created a conducive environment for businesses to invest in AI solutions. The growing demand for AI-driven solutions in Turkey, coupled with government support and a favorable economic environment, is expected to drive the growth of the Artificial Intelligence market in the country.

Methodology

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. 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 to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market 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). Data from the Statista Consumer Insights Global survey is weighted for representativeness.