Information and communications technology (ICT) spending in Qatar is set to reach $5.60 billion in 2023 and $6.20 billion by 2026, according to the latest predictions by International DataCorporation (IDC).
Announcing its regional forecasts for the year ahead, IDC revealed that it expects telecommunications services spending in Qatar to increase, with IT spending set to grow from $3.14 billion in 2023 to $3.60 billion in 2026.
This aligns with Qatar’s national vision which aims to build a vibrant ICT sector as part of an advanced knowledge economy and a sustainable future for its people.
“To navigate storms of disruption, organisations in Qatar will need to invest in strengthening their digital resiliency so they are better positioned to succeed in new market environments as conditions continue to change,” says Jyoti Lalchandani, IDC’s group vice president and regional managing director for the META region.
“Regardless of what the economy throws at us over the coming 12 months, the implementation of further digitalization in critical areas such as customer experience, operations, and financial management — together with a more rapid shift to a ‘digital business’ approach — will be key to separating the thrivers from the survivors,” he said.
To this end, Lalchandani said, “We expect to see digital transformation spending as a share of overall IT spending continues to grow, reaching $3.60 billion in 2026, up from $3.14 billion in 2023.”
In a digital-first economy, where an enterprise’s competitiveness is tied to its digital business model, leaders will avoid wholesale cutbacks in tech.
Further, new tactics will be employed as tech leaders seek to realize maximum business value from their techinvestments.
In Qatar, spending on Enterprise IT will reach $1.87 billion and consumer spending will reach $1.08 billion in 2023, IDC said.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.
With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries.