Qatar ICT Market Size (2024 - 2029)

Qatar ICT Market Analysis

The Qatar ICT Market revenue is expected at a CAGR of 8.5% over the next five years. The nation has built a robust communication infrastructure, benefiting private businesses and stakeholders. Qatar invests in cutting-edge ICT infrastructure as it evolves into a knowledge-based economy.

• ICT successfully supports the regional IT growth and development that the State of Qatar is experiencing using its commercial and technological expertise. Also, the development of ICT infrastructure delivers cutting-edge technology solutions and services to the Qatari market for medium-sized businesses in line with the development of Digital Transformation solutions involving the cloud, IoT, analytics, mobility, cybersecurity, social media, etc.
• Qatar is a regional leader in telecom development, with one of the Middle East's highest fixed and mobile penetration rates. Qatar has also emerged as one of the world's more forward-thinking nations in terms of its development of 5G. Qatar can handle the increased data demands during the pandemic because of its developed telecom industry. The two operators, Ooredoo Qatar, and Vodafone Qatar, were able to transition to 5G thanks to the widespread availability of LTE-based mobile services. The nation intends to provide gigabit services all around the country along with a robust fiber expansion.
• The Qatar National Vision 2030 strategic statement acknowledges that nations that leverage ICT for economic development and evolve into knowledge-based economies will be prosperous in the future. Qatar has made considerable headway toward this objective by transitioning its energy-based economy into a diverse, knowledge-based society. According to the Minister of ICT, Mohamed bin Ali al-Mannai in March this year, Qatar's ICT sector contributed 1.9% to the nation's GDP. The ministry confirmed that they are trying to create an integrated strategy with fresh objectives to advance ICT and complete it in the first quarter of 2023.
• ICT modernization is a crucial component of Vision 2030 since it creates the technological groundwork required to develop future high-paying employment, diversify the economy, and draw foreign investors. Qatar is quickly establishing itself as a global leader in terms of system automation, innovation, and new technology use. According to the International Trade Administration U.S. Department of Commerce, Qatar's ICT market was valued at USD 4.4 billion in January 2022 and is predicted to develop quickly. It would provide a thriving environment for foreign companies of all sizes to enter the ICT industry.
• The ICT industry faces various difficulties, including security concerns and threats relating to cybercrimes in the financial sector. Over the last two years, hackers have targeted Qatar in several attacks, including one that brought down the corporate computer systems and website of RasGas, one of the world's biggest exporters of liquefied natural gas. Safety in cyberspace is a major cause of concern for the ICT sector of Qatar. Further, a collaboration between national and international telecommunications firms and a growing cybersecurity culture is needed to meet these issues.
• The ICT sector became increasingly crucial in Qatar during the COVID-19 pandemic when the world attempted to create a "new normal." ICT is an essential instrument for ensuring public health and achieving socioeconomic stability. Businesses and government agencies have gradually accepted this digital change while looking for innovative solutions during the pandemic's difficulties. In Qatar, almost every industry gets forced to reconsider how it does business and provides value. For that shift to succeed, new technologies are needed. Many of these are built on digital platforms that make it possible to operate while being physically apart and allow for quicker, more informed decision-making.

Qatar ICT Industry Segmentation

Information and Communication Technologies or ICT is a broader term for Information Technology (IT). It refers to all communication technologies, such as wireless networks, the internet, computers, cell phones, software, videoconferencing, middleware, social networking, and other media applications and services. It enables users to digitally store, access, transmit, retrieve, and manipulate information.

The Qatar ICT market is segmented by type (Hardware, Software, IT Services, and Telecommunication Services), by the size of the enterprise (Small and Medium Enterprise and Large Enterprises), and by industry vertical (BFSI, IT and Telecom, Government, Retail and E-commerce, Manufacturing, and Energy and Utilities). The market sizes and forecasts are in terms of value (USD million) for all the above segments.