Between 2013 and 2023, Turkey’s advertising and market research sector has shown consistent growth in production value, increasingly contributing to the economy. The sector experienced notable year-on-year growth, ranging from 7.18% to 16.78%, with a Compound Annual Growth Rate (CAGR) peaking at 13.95% in 2013 and gradually decreasing to 10.76% by 2023. In 2023, the production value stood at 46.42 billion New Turkish Liras.
Over the past two years (2022-2023), the sector grew at rates of 8.8% and 8.01%, signaling a steady but slightly slowing growth trend. Looking ahead from 2024 to 2028, the forecasted CAGR is 4.84%, lower than previous years, projecting a more moderated growth rate with an overall increase of 26.67% over the next five years.
Future trends to watch in this sector include the impact of digital transformation, the adoption of advanced analytics, and changes in consumer behavior driven by innovative communication technologies. The sector’s growth will likely hinge on how well it can integrate new digital tools and respond to these evolving market dynamics.
