Business Monitor International Predicts 10% Growth Rate in Qatar’s IT Spend
According to Business Monitor International (BMI) Qatar IT Technology Report Q2 2010, 2010-2014 IT spending compound annual growth rate (CAGR) in Qatar is forecast at 10 percent, with opportunities in sectors such as hydrocarbon, banking, and telecoms. In addition, BMI’s core scenario is for Qatar’s total IT market to reach US$372mn in 2010 and US$550mn by 2014.
Companies in Qatar wanting to achieve short and long-term profitability must holistically manage the ‘triple bottom line’ of economic, social, and environmental opportunities, as organizations of all sizes are focusing on business solutions that optimize performance, and offer the insight and agility needed to close the gap between strategy and execution, according to SAP Executives meeting in Doha today.
“Qatar is a strategically important market for SAP and as part of our commitment to Qatari customers we want to illustrate how SAP's industry and solutions knowledge can benefit local organizations by reacting to their needs and driving innovation, developing long-term strategic and flexible partnerships, and delivering agile business solutions that respond quickly to changing market demands,” said Gergi Abboud, Qatar Country Manager, SAP.
As an emerging market, Qatar is being affected by business forces including an increased need for business insight to enable end-to-end best-run business processes, incremental innovation to compensate for market shifts, and changing customer needs, fast ROI and ‘quick wins’ with commensurate value, and tactical solutions to specific challenges.
“SAP is working with Qatari customers and partners on how the innovative use of IT can promote end-to-end visibility within their organizations, in line with sustainable business practices. This intelligence enables informed and swift decision-making, which in turn allows companies to develop sustainable business models to outpace the competition, reduce cost and risk, limit exposure, and ensure business longevity,” continued Abboud.
According to SAP, to survive in today's business environment, companies must see clearly, think clearly, and act clearly. Only those with the visibility to act effectively and decisively will survive and thrive in the current business conditions to emerge in a stronger competitive position, heard delegates attending the event.
“See Your Way Clear: Strategies for Success in the New Reality” is the theme of the tour, which has visited key markets across the region including Kuwait, Egypt, Oman, and KSA, to explore how regional organizations can achieve transparency in every area of their operations, and become sustainable, best-run businesses.
Attendees also have the opportunity to learn more about how SAP can facilitate these goals by industry and business area, and how an increasing number of organizations are benchmarking against their peers and re-thinking IT investments in terms of high-impact value creation.
The SAP World Tour also provides an exclusive opportunity for attendees to share best practices and ideas with other top-level executives, SAP customers and partners, and receive exclusive previews of future SAP applications.
- UAE residents spend equivalent of 45% annual food bill on consumer technology
- SonicWALL highlights web 2.0, smartphones as latest challenge to IT security
- Qatar raises growth forecast as infrastructure projects take hold
- Oman’s banking sector achieves 16.9 percent growth in 1Q02
- US limits size of WTO delegation in Qatar for safety