Qatar ICT Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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 Market Trends
This section covers the major market trends shaping the Qatar ICT Market according to our research experts:
Rising 5G Demand
- Qatar's telecommunications industry has seen strong development and substantial advancement in the previous years because of strong government backing and the nation's encouragement of an ecosystem of collaboration between public and private organizations. According to an Ericsson report, through different infrastructure initiatives, the telecommunications sector in Qatar is well-positioned to expedite the transition to 5G and roll out new solutions nationwide.
- The four main components of Qatar's National Vision 2030-economic, social, human, and environmental development, are expected to be connected via 5G. As the country continues to roll out a 5G network, which would bring several intriguing cases for digital government and smart city initiatives, Qatar has established itself as a leader in ICT technology. The two most significant telecom providers in the nation, Vodafone and Ooredoo, have made significant strides toward 5G connectivity in Doha as the development of new services like 5G cloud and internet of things (IoT) networks continued to be a priority.
- With the continued implementation of the 5G network throughout the nation, Qatar has established itself as a technological innovator in the ICT sector. Consumer commitment to 5G and expectations for the next generation is rising as 5G adoption crosses the threshold from early adopters to widespread adoption in many areas of the world. Early adopters of technology continue to push 5G adoption in Qatar, where 26% of the population is currently connected. Compared to 2020, there are twice as many 5G customers this year, and they frequently utilize more than three services. It is anticipated that 5G monetization methods will change as users want customized network capabilities for certain 5G subscriptions.
- According to the Ericsson ConsumerLab 5G report, the 5G introduction in Qatar is paving the way for the metaverse in the future. The usage of applications and services connected to the metaverse is increasing concurrently with the adoption of 5G, showing that 5G users spend 35 min more per week on these services than 4G users. In Qatar, 5G users participate in weekly metaverse activities at a rate that is 1.5 times higher than 4G users. The use of AR will rise in the future. 46% of 4G users in Qatar said that after they sign up for 5G, they would begin utilizing or increasing their AR apps in the real world.
- According to an OpenSignal report, currently, Qatar has 16.4% of handsets remain connected to 5G availability across the country. Puerto Rico leads the 5G availability with almost 43%. In the US, users of 5G-capable smartphones spend 25.2% of their time connected to a 5G network.
Robust Digital Transformation in the BFSI
- The Qatar National Vision 2030 and other government plans have made expanding Qatar's selection of financial services a top focus in recent years. Promoting broad-based growth and bridging Qatar's start-up ecosystem with global equivalents require a large and robust financial services industry. In particular, the government wants to encourage collaborations between banks and the broader financial ecosystem to digitize and enhance services provided by the government to citizens, businesses, and businesses to companies.
- The BFSI sector of Qatar is rapidly evolving, with the everchanging customers' demand for innovative products and services. In response to the constantly shifting consumer preferences and the difficulty for banks to remain competitive in today's digitally focused market, QIB has taken the lead in implementing technologically smart solutions. They have launched several digital banking initiatives and ground-breaking products and services in line with their digital transformation strategy. From account opening to quick fulfillment of personal finance and credit card requests, QIB continues to transform the world of digital banking by meeting the demands of its clients daily. Maintaining its commitment to providing the finest, quickest, and most reliable financial products in Qatar, QIB continues to carry out its long-term business plan.
- Fintech adoption is aided by robust ICT infrastructure and extensive usage of digital technologies, with 99% of Qataris using the internet and social media. Banking digitalization aims to increase profitability, expand operations, and enhance the client experience. By enabling banks to connect with a broader range of market segments and demographics, digital solutions improve the organization's overall resilience. The banking industry has taken a sustainable strategy, focusing on digitalizing its retail and wholesale goods and services to boost resource efficiency, reduce waste, and provide better customer service as the need for a productive system rises.
- Due to COVID-19, digital transformation in Qatar accelerated, and banks started investing more in fintech solutions. The COVID-19 pandemic has sparked financial inclusion and led to a significant rise in digital payments. Fintech solution providers aid in increasing financial inclusion, reducing operating expenses and improving application security. Sandbox programs have been implemented by governments in the GCC area, enabling Fintech firms to test their goods on the actual market. These initiatives need to aid in fostering the nation's Islamic finance sector's expansion.
- According to BCG, the fintech start-up numbers in the Middle East and Africa region increased from 3581 in 2018 to 9323 in 2021. As per the report, the growth of fintech start-ups in the area almost tripled in the gap of 4 years.
Qatar ICT Industry Overview
The Qatar ICT market is fragmented as the market currently consists of many players. Several key players in the ICT market are in constant efforts to bring advancements. A few prominent companies are entering into collaborations and expanding their footprints in developing regions to consolidate their positions in the market. Oracle Systems Corporation, International Business Machines Corp. (IBM), Wipro Doha LLC, Ooredoo Qatar, Vodafone Qatar, and many others are major players.
In November 2022, Oracle Corporation signed a deal with the Ministry of Municipality of Qatar to improve every public service offered by the ministry as part of the organization's effort to attain excellence and leadership in its services through digital transformation and to provide proactive smart self-services to diverse beneficiaries.
In May 2022, Vodafone Qatar unveiled its very own asset tracking solution allowing companies to use cutting-edge Internet of Things (IoT) technology to increase the efficiency of their operations. The brand-new end-to-end IoT asset tracking system makes it easier to offer real-time data, including asset location and environmental conditions. It can track numerous assets simultaneously while also sending out alarms and reports.
Qatar ICT Market Leaders
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Oracle Systems Corporation
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International Business Machines Corp. (IBM)
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Wipro Doha LLC
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Vodafone Qatar
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Ooredoo Qatar
*Disclaimer: Major Players sorted in no particular order
Qatar ICT Market News
- November 2022- Vodafone Qatar initiated the "Together We Can" operation in the Metaverse. The event participants saw the campaign's debut on the Metaverse platform, created mainly by Vodafone Qatar, to provide shop visitors with a distinctive digital experience. The integrated campaign fits into the role that Vodafone has continued to play in Qatar's sports industry development in recent years.
- January 2022- Microsoft and Atos strategically strengthened their partnership to bolster Qatar's IT sector. This partnership would address the rapid pace of digital transformation and the potential of the cloud, supporting their most incredible clients and additional prospects in the nation. Microsoft, and Atos, two industry pioneers in cloud technology, have expanded their 20+ year worldwide alliance to Qatar.
Qatar ICT Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition and Scope
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Stakeholder Analysis
4.3 Industry Attractiveness-Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising 5G Demand
5.1.2 Significant Use in the BFSI Sector
5.2 Market Restrain
5.2.1 Cyber Security Related Challenges
5.3 Impact of COVID-19 on the IT Spending
6. KEY TECHNOLOGY INVESTMENTS
6.1 Cloud Technology
6.2 Artificial Intelligence
6.3 Cyber Security
6.4 Digital Services
7. MARKET SEGMENTATION
7.1 By Type
7.1.1 Hardware
7.1.2 Software
7.1.3 IT Services
7.1.4 Telecommunication Services
7.2 By Size of Enterprise
7.2.1 Small and Medium Enterprises
7.2.2 Large Enterprises
7.3 By Industry Vertical
7.3.1 BFSI
7.3.2 IT and Telecom
7.3.3 Government
7.3.4 Retail and E-commerce
7.3.5 Manufacturing
7.3.6 Energy and Utilities
7.3.7 Other Industry Verticals
8. COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Oracle Systems Corporation
8.1.2 International Business Machines Corp. (IBM)
8.1.3 Wipro Doha LLC
8.1.4 Tech Mahindra Qatar
8.1.5 Infosys Business Solutions LLC
8.1.6 Vistas Global
8.1.7 Atos Qatar LLC
8.1.8 Vodafone Qatar
8.1.9 Ooredoo Qatar
8.1.10 Workz Middle East
8.1.11 ZTE Corporation
8.1.12 Gulf Bridge International
- *List Not Exhaustive
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
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.
| By Type | |
| Hardware | |
| Software | |
| IT Services | |
| Telecommunication Services |
| By Size of Enterprise | |
| Small and Medium Enterprises | |
| Large Enterprises |
| By Industry Vertical | |
| BFSI | |
| IT and Telecom | |
| Government | |
| Retail and E-commerce | |
| Manufacturing | |
| Energy and Utilities | |
| Other Industry Verticals |
Qatar ICT Market Research FAQs
What is the current Qatar ICT Market size?
The Qatar ICT Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Qatar ICT Market?
Oracle Systems Corporation , International Business Machines Corp. (IBM), Wipro Doha LLC, Vodafone Qatar and Ooredoo Qatar are the major companies operating in the Qatar ICT Market.
What years does this Qatar ICT Market cover?
The report covers the Qatar ICT Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Qatar ICT Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Qatar ICT Industry Report
Statistics for the 2024 Qatar ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Qatar ICT analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
