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The Qatar IT market size is forecast to increase by USD 2.02 billion at a CAGR of 8.09% between 2023 and 2028. Market growth is contingent on several factors, including the accelerated uptake of mobility solutions, the rise in IT consolidation and modernization, and the imperative of regulatory compliance in information technology. The adoption of mobility solutions is increasingly vital for businesses to enhance productivity and meet the demands of a mobile workforce. Simultaneously, the consolidation and modernization of IT infrastructure are essential for streamlining operations and improving efficiency. Furthermore, adherence to regulatory standards in IT is critical for ensuring data security and maintaining compliance with relevant laws and regulations. These factors collectively underscore the need for organizations to stay abreast of technological advancements and regulatory requirements to drive market growth and maintain competitiveness.
In Qatar's rapidly evolving IT market, mobility solutions have become a key focus area for businesses seeking to stay competitive in the digital age. Regulatory compliance, a critical aspect of IT infrastructure, is being addressed through the adoption of cutting-edge ICT infrastructure. Digital Transformation solutions, including cloud, analytics, mobility, collaboration, and digital banking initiatives, are driving profitability and efficiency in various sectors. Fintech adoption and digital technologies are transforming the financial services industry, with internet usage and social media becoming essential channels for customer engagement. Blockchain technology is also being explored for its potential in enhancing regulatory compliance and security.
Simultaneously, the Qatari government's digital transformation strategy is prioritizing the use of IT to digitize services and improve the business environment. Overall, the market is witnessing significant growth, driven by the adoption of digital technologies and the need for regulatory compliance in a rapidly changing business landscape.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The Services segment is estimated to witness significant growth during the market forecast period. In Qatar, the Information Technology (IT) market is experiencing significant growth due to the adoption of advanced IT solutions, including mobility solutions, digital transformation, cloud, analytics, and blockchain technology. Regulatory compliance is a key driver, as the State of Qatar pushes for a knowledge-based economy and integrated strategy. The primary and secondary information industries are undergoing digital transformation, leading to increased demand for IT services. The comprehensive market research reveals a competitive landscape with numerous companies vying for contracts. company selection methodology is crucial, with qualitative and quantitative research essential for accurate market growth projections. The telecom industry's development, with LTE-based mobile services, gigabit services, and fiber expansion, fuels economic development and high-paying employment opportunities.
Further, private businesses and stakeholders benefit from cutting-edge ICT infrastructure, cybersecurity, and telecom development. The upcoming 2022 FIFA World Cup further boosts the market, with many companies anticipating new and renewed contracts. The competition is intense, with promotions and the competitive landscape shaping the market facets. Market research reports provide valuable insights into this dynamic industry.
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The services segment was valued at USD 1.65 billion in 2018 and showed a gradual increase during the forecast period.
Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased adoption of mobility solutions is the key driver of the market. In Qatar, the IT market is experiencing significant growth due to foreign investments in system automation and new technology use. Innovation is at the forefront, with mobility playing a crucial role in digital change. Uninterrupted data sharing is facilitated through wireless networks, enabling e-government initiatives in rural areas and financial inclusion via mobile solutions. The growth in smartphone usage has led to an increase in mobile app users, necessitating IT services like BaaS and IDEs for innovative mobile application development. Cybersecurity concerns and cybercrimes are escalating issues in the financial sector, with hackers posing threats in cyberspace. RasGas, a leading liquefied natural gas company, prioritizes cyberspace safety.
Simultaneously, the digital transformation strategy includes digital government initiatives, smart city projects, and metaverse applications. Fintech adoption is on the rise, with profitability and resource efficiency key drivers. Internet and social media usage are increasing, fueling the start-up ecosystem and collaboration. Ericsson's report highlights digital banking initiatives and the Islamic finance sector's digitization. Digital payments, Sandbox programs, and waste reduction are essential aspects of this digital transformation.
The increased adoption of IT as service is the upcoming trend in the market. In Qatar's IT market, foreign investors are increasingly drawn to the country's focus on system automation and innovation through new technology use. The financial sector, spearheaded by companies like RasGas and liquefied natural gas producers, prioritizes cybersecurity concerns and cybercrime prevention in the face of growing threats from hackers in cyberspace. The Ericsson report highlights the importance of digital change and innovative solutions in the digital platforms that drive the country's digital government and smart city initiatives.
Additionally, the metaverse, fintech adoption, and digital banking initiatives are key areas of focus for financial services and the start-up ecosystem. Collaboration between the public and private sectors is essential for digitizing industries, reducing waste, and increasing profitability through digital payments and Sandbox programs. The Islamic finance sector also benefits from these digital transformations, with increasing internet and social media usage driving the need for resource efficiency and cybersecurity.
Data privacy and security concerns is a key challenge affecting the market growth. In Qatar's IT market, foreign investors are increasingly drawn to the country's focus on system automation and innovation, driven by new technology use and digital change. However, cybersecurity concerns and cybercrimes remain significant barriers, particularly in the financial sector. RasGas, a leading player in the liquefied natural gas industry, focuses cyberspace safety to protect sensitive business data. The Ericsson report highlights the importance of collaboration and digitize initiatives in the digital government and smart city context.
However, innovative solutions and digital platforms are essential for fintech adoption and digital banking initiatives. The start-up ecosystem thrives on the financial services sector's growth, driven by profitability, resource efficiency, waste reduction, and digital payments. Sandbox programs and the Islamic finance sector further fuel the digital transformation strategy. Social media usage and internet usage continue to expand, necessitating strong cybersecurity measures against hackers.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accenture Plc - The company offers a wide range of IT services and consulting.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market has seen significant growth and development in recent years. With a focus on digital transformation and innovation, Qatar has become a hub for technology companies and startups. The country's economy is heavily reliant on the oil and gas industry, but the government is making efforts to diversify and reduce its dependence on these sectors. The IT sector in Qatar is driven by several key areas, including cloud computing, cybersecurity, artificial intelligence, and the Internet of Things (IoT). Companies have established a strong presence in the country, providing solutions and services to both the public and private sectors.
Simultaneously, Qatar's tech ecosystem is also supported by several initiatives and programs. For instance, the Qatar Science and Technology Park (QSTP) and the Qatar Free Zones Authority (QFZA) offer incentives and support to tech startups and companies looking to establish a presence in the country. Moreover, the government's investment in infrastructure projects, such as the World Cup 2022, has created opportunities for technology companies to provide solutions in areas like smart cities, transportation, and security. The blockchain technology adoption and the growth of IoT (Internet of Things) networks are driving regional IT growth and development, and IT as a service enhancing commercial and technological expertise while addressing the rising data demands in knowledge-based economies, ultimately supporting efforts to diversify the economy and improve fixed and mobile penetration rates in the telecom industry. The market is expected to continue growing, driven by the country's focus on digital transformation and innovation.
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Market Scope |
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Report Coverage |
Details |
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Page number |
142 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 2.02 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.32 |
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Key companies profiled |
3M Co., Accenture Plc, Acer Inc., Almana Soft WLL, Apple Inc., Argus Technologies WLL, Ascentsoft, Cisco Systems Inc., Dell Technologies Inc., Infosys Ltd., InterGlobe Enterprises Pvt. Ltd., International Business Machines Corp., JAS Business Systems, Microsoft Corp., Oracle Corp., QBS LLC, Salesforce Inc., SAP SE, Sonata Software Ltd., and Synergy Technology Solutions W.L.L |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles,market forecast , fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this market research report to meet your requirements Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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