Online Services Industry Poised For Substantial Growth In 2024

(MENAFN- The Peninsula) Joel Johnson | The Peninsula

Doha, Qatar: Qatar's e-services market is projected for significant growth in 2024 and beyond, noting that the sector is expected to amount to $1.4m in 2024.

According to Statista, the e-services sector including the online food delivery market is anticipated to experience a steady growth yoy of 12.10 percent from this year until 2029. This ensures a projected market volume of $2.6m by the end of the period.

Reports have also indicated the growing interest of individuals in opting for online food delivery rather than in-house dining. It is projected to achieve a revenue growth of 10.2 percent in 2025.

Analysts state that the average revenue per user (ARPU) in the Online Food Delivery market, is forecast to reach $1m this year. Apart from that, the number of users in the online delivery sector is anticipated to reach a target of 1.8 million users by 2029.

The Peninsula spoke to a few expatriates to understand the importance and accessibility of e-buying groceries and food items.

Mohamed Nihal, 29, a resident from Matar Qadeem said,“With the soaring temperate in Qatar, we should buy and get our meals delivered by surfing the food mobile applications like Talabat or Zomato.”

He also stressed that the mode of transactions is easy to use and secure, provided that the recent Eid and upcoming summer deals are some of the primary reasons to avail of the e-shopping apps.

Emphasising the importance of saving time and money, Roger Ben, a salesperson working in the e-service market said:“Among all the people, I have approached, I would prefer getting their things right on time and place. It saves their time after coming back from work and an ample amount of money by looking up to options with better offerings.”

“Even in restaurants you do get deals but with a regular points system through application, your chance for better quality food is increased. This caters to every customer's need in an adequate, safe, and effective manner,” Ben added.

The industry leaders state that the online food delivery sector in the country is projected to register a considerable market volume in the years to come, with a projected value of $1,4m this year.

On the global market, China tops the list with the expectation to produce the highest revenue in the market, totaling $495.5bn in 2024.

The user penetration for the market is observed to have a penetration rate of 52.8 percent in 2024, as this signals the growing population that is utilising online food market services in the region.

Researchers state that the increasing demand for the e-services market in Qatar is a component factor in which the government takes strides in promoting its digital transformation as the majority of the people prefer online services for convenience and efficiency.


The Peninsula

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