The Crowdfunding market in Turkey is experiencing significant growth and development.
Customer preferences: Turkish consumers are increasingly turning to crowdfunding as a means of supporting innovative projects and start-ups. This is driven by a desire to be part of the entrepreneurial ecosystem and contribute to the success of local businesses. Additionally, crowdfunding provides individuals with the opportunity to support causes and projects that align with their personal interests and values. The convenience and accessibility of online platforms have also made crowdfunding an attractive option for Turkish consumers.
Trends in the market: One of the key trends in the Turkish crowdfunding market is the rise of reward-based crowdfunding. This type of crowdfunding allows individuals to contribute to a project in exchange for a non-financial reward, such as a product or service. This trend is driven by the increasing number of entrepreneurs and start-ups in Turkey who are seeking funding to bring their ideas to life. Reward-based crowdfunding provides these entrepreneurs with a platform to showcase their projects and attract support from a wide range of backers. Another trend in the Turkish crowdfunding market is the emergence of equity-based crowdfunding. This type of crowdfunding allows individuals to invest in start-ups and early-stage companies in exchange for equity or shares in the business. Equity-based crowdfunding is gaining popularity in Turkey as it provides investors with the opportunity to support promising companies and potentially earn a return on their investment. This trend is also driven by the government's efforts to promote entrepreneurship and innovation in the country.
Local special circumstances: Turkey has a vibrant entrepreneurial ecosystem, with a growing number of start-ups and innovative projects. This is supported by government initiatives and policies aimed at fostering entrepreneurship and innovation. The government has introduced various incentives and support programs to encourage the growth of start-ups, including tax incentives, grants, and access to funding. This favorable environment for entrepreneurship has contributed to the development of the crowdfunding market in Turkey.
Underlying macroeconomic factors: The Turkish economy has been experiencing steady growth in recent years, which has created a favorable environment for crowdfunding. The growing middle class and increasing disposable income have provided individuals with the financial means to support crowdfunding projects. Additionally, the high smartphone penetration rate and widespread internet access in Turkey have made it easier for individuals to participate in crowdfunding campaigns. These macroeconomic factors have contributed to the growth and development of the crowdfunding market in Turkey.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking 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 for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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