IT is required to develop a secure cyber environment, maintain a uniform flow of information, and increase the revenue of an organization. The demand for IT in the private and public sectors, and optimistic economic scenario and huge support from government have encouraged many businesses to invest in IT.
This, in turn has contributed to the development of IT infrastructure. Qatar is moving toward economic diversification due to surplus of resources generated from the Oil and Gas sector.
This provides a huge opportunity for improvement on the technological front. There is scope for investments in IT, which is evident from major projects such as QSTP, which apart from being a tax-free environment, provides funds for start-ups and also allows 100% foreign ownership.
Furthermore, continuous financial support to tech-oriented projects such as metros, stadia, and other infrastructure is expected to result in a double digit growth of the IT market in Qatar.
Technavio’s analysts forecast the IT market in Qatar to grow at a CAGR 12.37% over the period 2014-2019.