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Qatar’s computing sector poised for $82.92 million growth by 2029
The revenue shows a compound annual growth rate (CAGR) of 4.83% in the coming five years.
Qatar is making significant strides in digital innovation and transformation to enhance its economy, drive sustainable growth, and boost the technology sector. This focus on digital advancements is expected to lead to greater efficiency, innovation, and GDP growth.
As these trends continue to evolve, there is a projected surge in demand for digital skills, particularly in areas such as cybersecurity, cloud computing, and software development.
According to a report by Statista, Qatar’s computing sector is projected to generate $65.5 million in revenue by 2024. This revenue is expected to grow at a compound annual growth rate (CAGR) of 4.83% over the next five years, with the market volume anticipated to reach $82.92 million by 2029. Qatar’s ongoing digital transformations are fueling this growth.
In 2023, Google Cloud launched operations in Qatar, establishing its first presence in the GCC. According to Access Partnership, by the end of the decade, the Google Cloud market in the region is projected to generate $18.9 billion in gross economic output (GO).
However, researchers at Statista noted that despite Qatar’s projected market volume exceeding $65 million, the US remains the leader with the highest generated revenue, totaling $20.3 billion.
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