The Internet of Things (IoT) market in Qatar is projected to experience substantial growth, increasing from QR2.88 billion ($0.79 billion) in 2023 to QR9.87 billion ($2.71 billion) by 2028. This growth is anticipated to occur at a compound annual growth rate (CAGR) of 27.92 per cent between 2023 and 2028, according to a report by Research and Markets.
Qatar embracing new technologies
The report highlights Qatar as a technologically advanced nation within the Arab world, showcasing a high level of innovation in IoT, virtual reality, robotics, and 5G. Qatar is actively embracing new technologies with a vision to become one of the smartest countries in the Middle East.
The Ministry of Transportation and Communications has established the ‘Tasmu Digital Valley,’ an innovation cluster fostering collaboration among startups, entrepreneurs, investors, researchers, academics, students, multinational corporations, and institutions. IoT constitutes 40 per cent of the Tasmu Smart Qatar use cases, contributing significantly to the country’s IoT market expansion.
The government is driving initiatives to support IoT market growth, exemplified by the Qatar Mobility Innovations Centre (QMIC), the first independent innovation centre in the region. QMIC, through Labeeb IoT, aims to enhance and deploy smart mobility services and systems. The overarching objective is to leverage locally engineered innovations to address regional challenges and contribute to major projects in the area.
The report also notes the rise in smart home projects in Qatar, emphasising their positive impact on market growth. Additionally, the efforts of market vendors in advancing 5G connectivity are expected further to expand the scope of smart homes in the country, contributing positively to market growth.
Qatar has positioned itself as a global leader in 5G network coverage, with high levels of internet and smartphone penetration. The extensive mobile connections in Qatar, reaching 151.8 per cent of the total population in January 2022 according to GSMA Intelligence, indicate a conducive environment for major telecom players to drive 5G deployment efforts.
