Statista: Qatar’s computing sector to achieve revenue of USD65.5M this year
Date
8/11/2024 8:24:00 AM
(MENAFN) According to a report by Statista, Qatar’s computing sector is set to achieve revenue of USD65.5 million (QR238.8 million) this year. The report indicates a compound annual growth rate (CAGR) of 4.83 percent over the next five years, with the market projected to reach an estimated USD82.92 million (QR301.93 million) by 2029. This growth reflects Qatar's commitment to advancing digital innovation and transformation to enhance its economy, support sustainable development, and strengthen the technology sector for long-term competitiveness.
Qatar is actively embracing digital transformation trends to diversify its economy, enhance efficiency, and foster innovation and GDP growth across various sectors. The rising demand for digital skills, particularly in cybersecurity, cloud computing, and software development, is expected to drive this growth. Analysts attribute this surge to the increased productivity and efficiency facilitated by modern technologies and automation.
In a significant development, Google Cloud established its first-ever presence in the GCC region in Qatar last year, with a focus on creating innovative solutions for regional customers. By the end of the decade, Google Cloud is projected to generate USD18.9 billion (QR68.81 billion) in Gross Economic Output (GO), according to Access Partnership. On its first anniversary this May, Google Cloud officials highlighted ongoing investments and collaborations with various organizations in Qatar to advance digital transformation.
Despite Qatar's growing market, Statista's report notes that the US remains the largest market for computing revenue, generating USD20.3 billion (QR73.92 billion). The report also predicts that the number of users in Qatar’s computing market will reach 525.3 thousand by 2029, with user penetration expected to rise from 13.4 percent in 2024 to 18.9 percent by 2029. Additionally, the average revenue per user (ARPU) in the US is anticipated to be USD182.20 (QR663.44).
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