Qatar's telecom services market is set to generate $2.8 billion in service revenue by 2020, , up from a forecast of $2.3 billion in 2015, driven by operators' investment in next generation networks, according to Pyramid Research.
This translates to an annual compound growth rate of 3.6%. Moreover, the mobile penetration rate in Qatar is set to increase to 191% by year-end 2020, one of the highest rates in the world.
Average per capita spending on telecommunications services now stands at over $1,000 per year. “This makes Qatar – the fourth largest economy in the GCC – one of the most developed telecom markets in the Middle East,” said the consultant firm.
“Alongside similar markets such as the UAE and Saudi Arabia, Qatar is on its way to becoming a digital society supported by smart city initiatives,” says Houda Bostanji, senior analyst at Pyramid Research.