Qatar’s ICT market likely to reach $4.4bn in 2021

DOHA: Information and Communication Technology (ICT) sector is poised for strong growth in coming years. Minister of Transport and Communications H E Jassim bin Saif Al Sulaiti said yesterday that Qatar’s ICT market, which was estimated to be around $3.9bn in 2017, is expected to grow by 2.3 percent per annum to reach $4.4bn in 2021.

The Minister was speaking at the ‘Qatar IT Business Awards 2018’ which was organised by the Ministry of Transport and Communications ( MOTC) at the St. Regis Hotel, yesterday.

MOTC recognised 14 IT businesses at the fourth edition of the Qatar IT Business Awards following a careful process of screening and assessment from a panel of 11 judges.

“We want the Qatar IT business awards platform to grow year after year in a way that raises and enhances the value of local Qatari IT and telecom companies and their ecosystem, thus contributing to the growth of the national economy,” said the Minister

MOTC executes multiple programmes, plans and initiatives according to clear, well-planned strategies, including first and foremost the TASMU Smart Qatar Program and the Qatar Digital Cluster, in addition to investing in the ICT industry to raise its contribution to Qatar’s GDP, which currently stands at 2.7 percent, said the Minister. The award is one of several MOTC initiatives that support and enhance Qatar’s ICT sector and further improve the quality of services that IT business companies provide.

“This year, we doubled the number of award categories to 14, observing our national priorities. Those categories covered new awards aimed at growing some fields that are particularly important to the country,” said MOTC’s Assistant Undersecretary for Digital Society Development Affairs, Reem Al Mansoori.

Al Mansoori added that ICT sector growth “is on track as latest figures from the International Data Corporation (IDC) predict the software market in Qatar to reach some QR1.55bn, the IT service market to more than QR1bn and the infrastructure market to more than QR800m, by 2021.”

Commenting on the occasion, Khalid Abdullah Al Mana, Executive Director of Business Finance Department at Qatar Development Bank (the event Strategic Partner), said: “We are truly honoured, as Qatar Development Bank, to be one of the main sponsors of the Qatar IT Business Awards 2018, which is part of the Bank’s strategy to evolve and build a knowledge-based integrated economy in Qatar through developing and nurturing Qatari entrepreneurs and SMEs to embrace modern ICT tools which will massively impact the nation’s various economic sectors”.

“QDB is committed to invest in Qatari talents through supporting entrepreneurs and SME owners to further develop their projects and contribute effectively to this vital sector domestically and globally,” he added.

This year, 167 applications were received from 93 companies following the opening of the competition last April 11. MEEZA won Service Provider of the Year award, while Systems Integrator of the Year was won by “Malomatia” for digital transformation solutions. Best Mobile Application of the Year award went to Q Tickets & Events for Q-Tickets App.