The IT market in Qatar to grow at a CAGR of 10.81% during the period 2017-2021.
The report, IT Market in Qatar 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
One trend in the market is digital transformation and blockchain technology adoption. Digital transformation is the key enabler of blockchain technologies. Digital transformation in industry verticals such as the BFSI and manufacturing sectors is driving the blockchain technology market. In the manufacturing sector, supply chain management systems are being transformed to increase the efficiency of operations.
According to the report, one driver in the market is increase in IT consolidation and IT modernization. The increase in IT consolidations and IT modernization is taking place to improve the operational efficiency of organizations and to achieve economies of scale, which is driving the IT market in Qatar. The ever-increasing consolidation of IT infrastructures such as data centers and networking systems in the organizations are forcing C-suite executives to implement advanced IT service delivery models such as shared and managed IT services.
Further, the report states that one challenge in the market is overdependence on economic condition. Businesses in Qatar have a high dependence on the country's economic condition. In the current scenario of 2017 Qatar diplomatic crisis, any sign of economic recession or currency fluctuation will lead to drastic changes in investment patterns and cost-cutting measures by the vendors. These measures include cutting down on security solutions and turning toward in-house expertise, which may not be very effective. Since cost-saving is one of the most important criteria for enterprises, they tend to rely on in-house solutions rather than purchase IT solutions from other vendors.