Qatar's digital transformation market surpasses USD19.65B by 2030

2025-01-21 02:56:28

(MENAFN) Qatar's digital transformation market is projected to grow significantly, with an expected value of USD9.19 billion (QR33.55 billion) in 2025, according to a recent report by Mordor Intelligence. The market is expected to continue its rapid expansion, reaching USD19.65bn (QR71.75 billion) by 2030, with a compound annual growth rate (CAGR) of 16.43 percent by the decade's end.

This growth is fueled by several key factors, including a rising urban population and an increasing number of mobile phone users adopting advanced 3G, 4G, and 5G technologies. Additionally, Qatar’s smart city initiatives, such as the Msheireb Downtown Doha and Lusail, are contributing significantly to the country's digital transformation efforts.

Qatar is positioning itself as a leader in the global smart city race, with plans to harness cutting-edge technologies to meet its national strategic vision. The global smart city market, expected to reach nearly USD7 trillion (QR25.56billion) by 2030, provides a major opportunity for Qatar to further develop its digital infrastructure.

Government initiatives have played a critical role in expanding Qatar’s financial services sector and accelerating its digital transformation, ensuring the country remains on track to achieve its long-term goals.

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