Qatar Managed Services Market Size

Qatar Managed Services Market Analysis

The Qatar Managed Services Market size is estimated at USD 0.59 billion in 2024, and is expected to reach USD 1.14 billion by 2029, growing at a CAGR of 13.95% during the forecast period (2024-2029).

The rapid adoption of cloud-based solutions by enterprises, increasing investment in information technology, and growing adoption of Bring Your Own Device (BYOD) culture are expected to create ample opportunities for major vendors in Qatar.

• Managed services refer to a concept wherein a third-party service provider contains an organization's in-house day-to-day management functions. Managed services primarily involve outsourcing infrastructure, printing, security, mobility, and other processes, though the ownership rights stay with the end-user. It is estimated that successful managed services deployment will help reduce IT cost by 25%-45% and increase operational efficiency by 45-65%. Managed services offer various benefits proven to positively impact the organization's development that adopts such services as they can focus on their core expertise.
• Small and medium-sized enterprises (SMEs) are expected to be the driving factors positively impacting the market growth, as more SMEs are looking to outsource non-core activities. SMEs are paramount to Qatar's National Vision 2030, which has set several strategic goals, including building a well-diversified economy. According to Fatora.io, an incubated startup operating within Qatar Science and Technology Park's (QSTP), part of Qatar Foundation Research, Development, and Innovation, more than 96% of the 25,000 businesses in the private sector registered are classified as SMEs.
• The market for managed services is expected to witness a high demand for managed security and infrastructure services, finance and technology, and IT services. There has been a tremendous shift toward managed services and applications for short and long-term company goals. As managed services enable companies to access enhanced applications and services, it primarily helps them target their core strategic areas while outsourcing the rest of the operations to the service providers with operational expertise in that domain.
• The outbreak of the COVID-19 pandemic has increased the demand for managed security services in the end user verticals. There has been a sharp rise in the various industry's cyberattacks during the COVID-19 global pandemic, particularly attacks using ransomware, business email compromise (BEC), and socially engineered spear-phishing.
• Therefore, the government has released a Zero-trust Model, a holistic approach setup for cybersecurity involving several processes and technologies through which access to all resources is authenticated and verified. Moreover, Qatar Computing Research Institute (QCRI) built a tool that uses enterprise data logs to determine dormant attackers and amplify low attack signals within the network of enterprises. Such research and development enables partnership opportunities for the managed service providers in the market and enhances the need for outsourcing managed services.