Revenue for the computing sector in Qatar is poised to reach $65.5m (QR238.8m) this year, according to a report by Statista.
Researchers in the country explicitly stated that the revenue indicates a compound annual growth rate (CAGR) of 4.83 percent in the next five years with an estimated market volume of $82.92m (QR301.93m) by 2029.
The country is advancing toward digital innovation and transformation to augment its economy, reinforce sustainable growth, and boost the technology sector for long-term development and competitiveness.
Qatar is also swiftly adopting transformation trends to diversify various sectors and propel efficiency, innovation, and GDP growth.
Notably, the demand for digital skills is anticipated to surge over the years, particularly in cybersecurity, cloud computing, and software development.
Analysts remark that this vital increase comes as a result of improved productivity and efficiency due to modern technologies and automation.
Last year, Google Cloud launched the first-ever GCC presence in Qatar, aiming to build innovative solutions for customers across the region.
By the decade-end, the Google Cloud market is estimated to generate US$18.9bn (QR68.81bn) in Gross Economic Output (GO), according to Access Partnership.
During its first anniversary this May, Google Cloud officials emphasised that the company at present invests and collaborates with numerous organisations across the country to help in digital transformation.
However, researchers at Statista highlighted that although Qatar’s projected market volume exceeds $65m, the US tops with the highest generated revenue of $20.3bn (QR73.92bn).
Meanwhile, in the computing market, the number of users is predicted to amount to 525.3k users by 2029, the report said.
The user penetration, on the other hand, stands at 13.4 percent in 2024 and is expected to hit 18.9 percent by
2029.
Market experts at Statista further added that the average revenue per user (ARPU) in the US is expected to amount to $182.20 (QR663.44).
Source: https://thepeninsulaqatar.com/article/11/08/2024/qatars-computing-market-amounts-to-655m-in-2024