Doha, Qatar: Qatar’s Internet of Things (IoT) market is expected to grow from QR2.88bn ($0.79bn) in 2023 to QR9.87bn ($2.71bn) by 2028, at a compound annual growth rate (CAGR) of 27.92 percent between 2023 and 2028, according to a report curated by Research and Markets, .
The report highlights that “Of all the Arab countries, Qatar is one of the few that can be termed technologically advanced. The country witnesses a high rate of innovation, starting from IoT, virtual reality, robotics, and the most recent, 5G. As part of its long-term vision and strategy, Qatar aims to become one of the smartest countries in the Middle East. Given the high internet and smartphone penetration levels, the country is poised to grow in technology readiness and is highly willing to adopt new technologies.”
It also states that the Ministry of Transportation and Communications in the country established ‘Tasmu Digital Valley’ as an innovation cluster where multiple industries can work together to obtain the goal of “Smart Qatar”.
Launched by the ministry, ‘Tasmu Digital Valley’ connects startups, entrepreneurs, investors, researchers, academics, students, multinational corporations, and institutions to innovate new digital solutions. However, IoT as a component is 40 percent of the Tasmu Smart Qatar use cases. Such factors are proliferating the IoT market in Qatar.
The Government is also launching several initiatives for the growth of the IoT market.
The Qatar Mobility Innovations Center (QMIC), the first independent innovations center in the region aims to enhance and deploy smart mobility services and systems, developed Labeeb IoT.
The ultimate goal, however, is to use locally engineered innovations and knowledge to build technology-based sectors that address regional challenges and grow with major projects in the region.
“QMIC has been delivering IoT platforms and services across several vertical domains, including road safety, environment, logistics, telematics, and intelligent transport. In addition, QMIC is working with major global and national market players and stakeholders to create a market-focused innovation ecosystem in the region,” analysts from Research and Markets noted.
It emphasised that the augmenting efforts from the market players in Qatar are anticipated to drive the market at a rapid pace.
Remarking on the increase in the adoption of smart home projects, the report analyses the positive impact on the market’s growth. “Moreover, the growing efforts by market vendors in terms of 5G connectivity will significantly expand the horizon of smart homes in the country, thus positively impacting the market’s growth,” it added.
Qatar has emerged as one of the top countries in the world regarding 5G network coverage and the high Internet and smartphone penetration are expected to drive major telecom players’ 5G deployment efforts.
According to the data from GSMA Intelligence, mobile connections in Qatar were 151.8 percent of the total population in January 2022.