Market Size of Turkey Cybersecurity Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 9.02 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Turkey Cybersecurity Market Analysis
The Turkey Cybersecurity Market is expected to register a CAGR of 9.02% during the forecast period.
- With the growth of cyberattacks in Turkey, many organizations are investing in advanced cybersecurity solutions for protecting assets and data. Moreover, investing in firewall protection services safeguards information assets in data centers or on the customer's premises, as outlined by the company. Using advanced products ensures the confidentiality and integrity of the data. Thus, many organizations are investing in managed security service providers to handle complex cybersecurity needs.
- In May 2024, according to the data from the Turkish information body, the country's Cyber Incident Response Center scans more than 17 million IP addresses in Turkey for vulnerabilities with its “Hurricane” software, which faces around 13 million attacks per day.
- Turkish regulatory frameworks such as the Personal Data Protection Law and other cybersecurity regulations insist organizations enhance their cybersecurity compliance measures. While Turkish legislation lacks specific cybersecurity laws, it addresses protecting personal data. For instance, article 136 of the Turkish Criminal Code stipulates that the unauthorized disclosure of personal data can lead to criminal charges, carrying a penalty of two to four years of imprisonment. For legal entities, this can also include security measures like asset seizure. Moreover, these penalties are subject to a 50% increase for aggravated offenses.
- There is a shortage of cybersecurity talent in the country. The lack of skilled cybersecurity professionals hinders the ability of organizations to implement and manage effective security measures. Moreover, implementing a comprehensive cybersecurity solution is expensive, involving high upfront costs for organizations with limited budgets, which is a challenge for SMEs operating in the country.
- Following the COVID-19 pandemic, cyberattacks, encompassing phishing, ransomware, and other forms of cybercrime, saw a growth in the country. As organizations swiftly pivoted to hybrid work models and remained dependent on online data, the need for robust cybersecurity measures became paramount. However, this rapid adaptation also unveiled potential security vulnerabilities. Consequently, both businesses and the government in Turkey were forced to invest in enhancing their network security protocols for market growth.
