(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha, Qatar: The technology market in Qatar is expected to witness a huge non-stop demand for the years ahead with the implementation of a digital agenda launched alongside the first edition of Web Summit Qatar last year.
According to the CEO and co-founder of Ibtechar, Eng Nayef Al Ibrahim, one of the main pillars under the digital agenda is developing much more competent human capital within the country and having people be able to fulfil and push the objectives of the agenda by contributing either to the workforce or at the corpus or the company that would need them to enhance visual agenda and digital economy.
“As the demand for the market grows, I think we should also do more about empowering technology across the country, Eng Al Ibrahim said.
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Last week, Ibtechar, Qatar's innovation agency launched two new services: Ibtechar Academy and Ibtechar Consultancy, targeting students, researchers, and professionals in the ICT market.
With 10 years of market expertise, the official said that the company received the signal to launch its innovative services, mainly with the establishment of the Qatar Development Research Council (QRDI) all the way till modifying the mandate of civil service, adding that the government development has this high focus on corporate innovation and its experiences in heavily developing, designing and operating innovation labs.
As per the global research and analytical platform Statista, the IT Services market in Qatar is poised to experience a positive momentum in revenue growth, estimated to amount to $994.30m (QR3.6bn) in the current year.
The report also shows that the market is expected to witness a steady annual growth rate of 5.53 percent from 2025 to 2029, resulting in a market volume of $1,233m within the next four years. Experts state that the steady growth in Qatar reflects the surging demand for the IT market.
However, analysts stress that among the various segments in the market, IT outsourcing is projected to dominate with a market volume of $396.40m in 2025.
Additionally, the average Spend per Employee in the IT Services market is estimated to reach $472.40 (QR1,729.82) in 2025. This metric provides insights into the investment made by companies in Qatar to develop their technology infrastructure and services.
When compared globally, the analysis shows that the United States is anticipated to generate the highest revenue in the IT Services market, reaching $550.30bn in the current year.
Researchers note that this highlights the dominant position of the US in the global IT Services market industry.
Meanwhile, the IT Services market in Qatar is poised for substantial growth, says officials driven by factors like increasing digitalisation, technological advancements, and the need for efficient IT solutions.
“Qatar's IT Services market is experiencing rapid growth due to the government's focus on digital transformation initiatives,” it said.
Eng Al Ibrahim added,“The technology market continues to soar with numerous initiatives such as Ibtechar Academy and Ibtechar Consultancy as the market demand meets its goals by attaining its target goals of developing the future Qatari talents.”
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