The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: The attempted coup and government response in July 2016 has raised uncertainty in what was
already a challenging IT market. Lira depreciation hit demand for imported IT hardware in 2015, and now
with further downside - in 2016 and over the medium term - this drag will persist. We do expect mediumterm
recovery in IT market dynamics as the situation stabilises, but caution that downside risks are elevated
and lira depreciation is likely to continue to be a drag on USD returns throughout the forecast period. We
envisage Turkish IT spending will increase at a CAGR of 8.4% over 2016-2020 in lira terms, but the USD
outlook is markedly weaker at a CAGR of just 1.1%.
Latest Updates And Industry Developments
? Computer Hardware: Forecast growth from TRY12.1bn in 2016 to TRY15.9bn in 2020, at a compound
annual growth rate (CAGR) of 7.0%. Uncertainty and a weaker purchasing power growth forecast
resulted in a downgrade following the coup attempt, but there is still potential in the hardware segment
where PC penetration is lower than in developed markets.
? Software: Predicted growth of TRY2.4bn in 2016 to TRY3.5bn in 2020, at a CAGR of 9.9%.
Uncertainty a short-term drag, but competitive pressures resulting from trade liberalisation and
modernisation will ensure a strong growth trajectory over the medium term.
? Services: CAGR of 11.7% over 2016-2020, increasing from TRY3.5bn in 2016 to TRY5.4bn in 2020.
Wider adoption of cloud computing and outsourcing services will make IT services the outperforming
segment over the medium term.