Big Data Analytics is the process of applying algorithms in order to analyze sets of data and extract useful and unknown patterns, relationships, and information from large data sets. Hence, it allows analysts, researchers, and business users to make better and faster decisions using data to gain a competitive advantage
The big data analytics market size in Qatar was estimated at US$52m in 2018, and is expected to grow by 20% annually to reach US$107.8 million in 2022.
Investments in mega projects by the government, and increasing basic adoption by actors in the wider economy, will drive significant growth in this segment. The Digital Governance 2020 strategy will be required to heavily apply big data solutions while 94 of the use cases of TASMU Smart Qatar require big data solutions to implement.
High awareness of big data analytics, high interest in investing in/adopting the technology, and low current adoption represent a significant opportunity to serve the market
There are only a few players in the big data analytics market in Qatar, and they’re mostly serving large companies and very specific industries. There are still opportunities for new entrants into the market, especially those than can serve smaller companies in industries such as Retail and Banking where globally the market is achieving the highest growth
Early commercial rollouts of 5G will make increased bandwidth available to better service the requirements of big data.