The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Qatar's IT market has the strongest outlook of the high income Middle East countries
throughout the medium term. We forecast total IT spending will increase at a CAGR of 6.9% throughout
2016-2020 to a value of QAR5.2bn in 2020. The hardware market is highly lucrative and we expect this to
remain the case, but volume growth potential is diminished by the fact the PC market is saturated, meaning
vendors will rely on replacement sales. As such, software and services will be the main growth engine for
the IT market. In this segment, major government led investments in infrastructure, and economic
diversification and modernization are expected to create major new opportunities for IT vendors.
Latest Updates & Industry Developments
? Computer Hardware Sales: QAR2.6bn in 2016 to QAR3.2bn in 2020, a compound annual growth rate
(CAGR) of 5.0% in local currency terms. Hybrid notebooks are an area of strong growth, while tablet
demand has fared better in the face of competition from tablets than in most markets and server spending
is on the rise.
? Software Sales: QAR329mn in 2016 to QAR471mn in 2020, a CAGR of 9.4%. Major project spending
will support the expansion of the enterprise software market, with products such as data analytics, CRM
and cyber security expected to outperform.
? IT Services Sales: QAR1.1bn in 2016 to QAR1.6bn in 2020, a CAGR of 10.5%. The outlook for oil &
gas IT spending is strengthening as the potential benefits of Internet of Things solutions is realised, while
cloud computing and outsourcing are also strong areas of the services segment.