Qatar Managed Services Market Growth Analysis By Size, Share, News, Demand, Opportunity

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 27, 2021, 07:27 /Comserve / -- Qatar Managed Services Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The Qatar managed services market is expected to grow at a CAGR of 15.43% during the forecast period. The rapid adoption of cloud-based solutions by enterprises, increasing investment in information technology, growing adoption of Bring Your Own Device (BYOD) culture are expected to create ample opportunities for major vendors in Qatar.

- The rapidly increasing adoption and implementation of the cloud for data storage and the introduction of big data analytics is contributing to the growth of the market. This trend is providing an opportunity for the technology solution provider to establish their new cloud data center in Qatar to deliver intelligently, trusted cloud services, and expand their presence.
- For instance, in December 2019, Microsoft announced its plan to establish a new cloud data center region in Qatar to deliver its cloud services and expand the Microsoft global cloud infrastructure to 55 cloud regions in 20 countries. The new region is anticipated to be available starting with Microsoft Azure in 2021, and Office 365, Dynamics 365 and Power Platform.

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Key Market Trends

Investment in Technology is Expected to Drive the Market

- Technological advancements in the Internet of Things (IoT), big data analytics, cloud computing, and artificial intelligence (AI) will continue to spike growth in the IT business. Increasing smart city initiatives will also draw heavy investment in IoT development which in turn will fuel the market.
- For instance, in July 2020, Ooredoo with Ericsson has successfully trialed the 200MHz mid-band spectrum and achieved a record system throughput of 4.2 Gbps using the latest Ericsson Radio System products. This shows the potential of Ericsson AIR 6449 to use increased bandwidth in the network for future 5G capacity demands.
- Moreover, Qatar Mobility Innovations Center (QMIC), first independent innovations center in the region with a focus on developing and deploying smart mobility systems and services, is leading the delivery of IoT platforms, and IoT solutions and services in vertical domains including intelligent transport, logistics and telematics, road safety, and environment.
- For instance, it launched Labeeb IoT, cloud and on-Premise Internet of Things (IoT) Services enablement platform which provides an attractive environment (i.e. platform-as service, open APIs, development tools, and documentation) for entrepreneurs, third party developers and companies to accelerate the development and deployment of new IoT services, and to help them achieve faster time-to-market.

BFSI Sector is Expected to Grow Significantly

- The banking, financial services, and insurance companies (BFSI) demand an IT infrastructure that is available 24X7x365 days and meets rigorous internal and external service level requirements. As the segment majorly deals with end customers, who contribute to companies' revenue, an enterprise needs to ensure that the end-user applications and business services are monitored with a robust IT infrastructure management tool that also supports business-critical availability and performance and thus poses huge dependency on managed services.
- For instance, in February 2020, Doha Bank, one of Qatar's largest commercial banks has confirmed the official launch of its domestic and cross-border funds transfer digital service for corporate customers. The new services offer a wide range of features, which include the ability to identify mistakes related to incorrect IBANs and other inaccurate banking details. It uses OTP and passwords to ensure a secure way of conducting online payments.

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- Additionally, the BFSI sector faces major cyberattacks, and according to the report, financial firms are 300 times more likely than other institutions to experience cyberattacks and thus require a hypervigilant security system and its continuous monitoring. For instance, Qatar National Bank has suffered cyberattacks in past due to which, personal details of many of its customers and their account number, beneficiary names and password were exposed. This reflects the need of an infrastructure and technology services that not only protect sensitive data with robust security solutions, but also protect them from future threats, risks, and vulnerabilities.

Competitive Landscape

The Qatar managed services market is competitive due to the presence of a few major players like MEEZA QSTP LLC, Gulf Business Machines Qatar W.L.L., Diyar Group, Paramount Computer Systems FZ-LLC, and Ooredoo Q.P.S.C. ​These major players, with a prominent share in the market, are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

1 INTRODUCTION
1.1 Study Assumptions​ and Market Definition​
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers​
4.2.1 Growing Demand for Outsourcing of Non-Core Operations and Lack of In-House Capabilities Among Key End-Users in the Country
4.2.2 Growing Availability of Diversified Offerings Supported by Partnerships Between Local MSPs And Large-Scale Organizations
4.2.3 Supportive Government Policies and Development of Local Landscape Due to the Recent Changes in the Geopolitical Conditions
4.3 Market Challenges
4.3.1 Operational and Regulatory Concerns
4.4 Market Opportunities
4.4.1 Increased Awareness on the Security Threats Faced by Local Enterprises
4.5 PESTEL Analysis
4.5.1 Qatar Managed Services Market ​
4.6 Relative Positioning of Key Stakeholders in the Qatar Managed Services Industry ​
4.6.1 System Integrators​
4.6.2 ISP's​
4.6.3 Telecom Providers​
4.6.4 Hosting & Storage Providers
4.7 Base Indicator Analysis of the ICT Sector in Qatar (ICT Industry Spending, Digitization, Internet Penetration, etc.)​
4.8 Impact of COVID-19 on the Managed Services Industry

5 GLOBAL MANAGED SERVICES MARKET OUTLOOK

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