Market Size of Qatar ICT Industry
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 |
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.
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 Size Summary
The Qatar ICT market is experiencing significant growth, driven by the country's strategic investments in advanced communication infrastructure and its transition towards a knowledge-based economy. The government's commitment to the Qatar National Vision 2030 underscores the importance of ICT in economic diversification and development. This vision has propelled Qatar to the forefront of telecom development in the Middle East, with substantial advancements in 5G technology and digital transformation solutions. The ICT sector is integral to supporting medium-sized businesses with cutting-edge technology solutions, including cloud computing, IoT, analytics, and cybersecurity. The pandemic further highlighted the sector's critical role in ensuring public health and socioeconomic stability, prompting a rapid digital transformation across various industries.
The market is characterized by a fragmented landscape with numerous key players, including Oracle Systems Corporation, IBM, Wipro Doha LLC, Ooredoo Qatar, and Vodafone Qatar, who are actively pursuing collaborations and expansions to strengthen their market positions. The fintech sector is also evolving, with banks like QIB leading the charge in digital banking initiatives to meet changing consumer demands. The adoption of fintech solutions has been accelerated by the COVID-19 pandemic, fostering financial inclusion and enhancing digital payment systems. As Qatar continues to roll out its 5G network and expand its ICT infrastructure, it is poised to become a global leader in technological innovation, attracting foreign investment and fostering a robust digital economy.
Qatar ICT Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Stakeholder Analysis
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1.3 Industry Attractiveness-Porter's Five Force Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Hardware
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2.1.2 Software
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2.1.3 IT Services
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2.1.4 Telecommunication Services
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2.2 By Size of Enterprise
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2.2.1 Small and Medium Enterprises
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2.2.2 Large Enterprises
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2.3 By Industry Vertical
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2.3.1 BFSI
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2.3.2 IT and Telecom
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2.3.3 Government
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2.3.4 Retail and E-commerce
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2.3.5 Manufacturing
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2.3.6 Energy and Utilities
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2.3.7 Other Industry Verticals
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Qatar ICT Market Size 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.