Qatar Internet Of Things (IoT) Market Size (2024 - 2029)

Qatar IoT Market Analysis

The Qatar Internet Of Things Market size is estimated at USD 1.01 billion in 2024, and is expected to reach USD 3.47 billion by 2029, growing at a CAGR of 27.92% during the forecast period (2024-2029).

• Of all the Arab countries, Qatar is one of the few that can be termed technologically advanced. The country witnesses a high rate of innovation, starting from IoT, virtual reality, robotics, and the most recent, 5G. As part of its long-term vision and strategy, Qatar aims to become one of the smartest countries in the Middle East. Given the high internet and smartphone penetration levels, the country is poised to grow in technology readiness and is highly willing to adopt new technologies.
• In February 2023, VMware Inc. declared that Vodafone Qatar selected both VMware Telco Cloud Platform-5G Edition and VMware Cloud Foundation with Tanzu for its modern cloud platform. This alliance deployed the power of 5G, cloud, IoT, and modern applications to bring new solutions to the market to fulfill the country’s digitization ambitions in line with Qatar National Vision 2030.
• The Ministry of Transportation and Communications (MOTC) in Qatar established Tasmu Digital Valley as an innovation cluster where multiple sectors can work together to achieve the goal of Smart Qatar. Tasmu Digital Valley is a smart platform that connects startups, entrepreneurs, investors, researchers, academics, students, multinational corporations, and institutions to innovate new digital solutions. IoT as a component is 40% of the Tasmu Smart Qatar use cases. Such factors are proliferating the IoT market in the country.
• Moreover, the government is launching various initiatives to grow the country's IoT market. For instance, The Qatar Mobility Innovations Center (QMIC), the first independent innovations center in the region with a focus on developing and deploying smart mobility services and systems, developed Labeeb IoT. QMIC's main goal is to use locally engineered innovations and knowledge to create technology-based industries that address regional challenges and grow with mega projects in Qatar and the region.
• Further, QMIC has been delivering IoT platforms and services across several vertical domains, including road safety, environment, logistics, telematics, and intelligent transport. In addition, QMIC is working with major global and national market players and stakeholders to create a market-focused innovation ecosystem in the region.
• Moreover, the increasing efforts from the regulatory authorities in the country are expected to drive the market at a rapid pace. In March 2024, Bahrain FinTech Bay (BFB) and the Qatar Financial Center Authority (QFCA) signed an MoU for collaboration in the fintech sector across the region. This alliance will assist startups in strategizing their expansion moves into Bahrain and Qatar. Further, this will facilitate their deployment of technologies, including cloud and IoT, for growth purposes across the regions.
• The increase in the elderly population results in an increasing burden of chronic health diseases. This results in a decrease in physical activity and loss of mobility. This significantly creates the need for Interactive Connectivity Establishment (ICE) tracking and response to support patients' mobility through sensors and provide immediate response in emergencies. This IoT application could provide rapid medical assistance, especially for the elderly, by developing sensors monitoring patient health and movement. The system is connected to caregivers and emergency response teams to provide assistance based on patient location.

Qatar IoT Industry Segmentation

The Internet of Things (IoT) is defined as a system of connected devices, sensors, and machines that create a network of networks that communicate and share data with each other and users without human interference. IoT applications range from smart appliances to fully integrated smart cities. IoT has combined hardware and software with the internet to create a more technically driven environment.

The Qatari IoT market is segmented by components (hardware, software, services, and communication/connectivity) and end-user verticals (manufacturing, transport and logistics, home and building automation, power and utilities, and government). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.