Digitalisation leads Qatar’s journey into the future

Digitalisation leads Qatar’s journey into the future

Digitalisation has been sweeping the globe as the forerunner of the Fourth Industrial Revolution, increasing business efficiency and cutting down operational time. As information and communications technology seeps into daily life, organisations have integrated digital transformation into functional areas. The global digital transformation market size, which stood at $737 billion in 2020, is projected to reach over $3.5 trillion by 2028, a compound annual growth rate of 22.1% during the forecast period.[1]

As global businesses strive to recover to pre-pandemic operational levels, a move to digital transformation has been triggered. Upscaling and developing digital capabilities have clearly become the vehicle to move from surviving the pandemic to thriving in the endemic phase.

Developing digital ecosystem

In the latest International Data Corporation (IDC) Worldwide Digital Transformation Spending Guide, global spending on digital transformation is projected to reach $1.8 trillion in 2022, an increase of 17.6% over 2021.[2] The guide expects this spending growth to continue over the 2021-2025 period, with “a five-year compound annual growth rate (CAGR) of 16.6%”. In the Middle East, Turkey, and Africa (META) region, the IDC guide shows that digital transformation investments are set to double across the 2020-25 period, with spending forecast to reach $58 billion in 2025. [3]

Amidst