Doha: ICT spending in Qatar is set to reach $5.60bn in 2023 and $6.20bn by 2026, according to the latest predictions by International Data Corporation (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 $3.14bn in 2023 to $3.60bn 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 digitalisation 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. To this end, we expect to see digital transformation spending as a share of overall IT spending continue to grow, reaching $3.60bn in 2026, up from $3.14bn in 2023,” he added.
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 tech investments. In Qatar, spending on Enterprise IT will reach $1.87bn and consumer spending will reach $1.08bn in 2023.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.