Doha: The digital commerce market is currently witnessing a sturdy boom in Qatar as several reports indicate the upward trajectory growth in 2024.

According to Statista, the transaction value of the sector is estimated to amount to $8.25bn (QR30.01bn) this year with a compound annual growth rate of 8.30 percent within the next four years. The total amount of digital commerce sector is expected to total $11.35bn by 2028.

Speaking to The Peninsula on the resilient industry, Anas Noufal, a digital commerce market expert reflected upon the key trends that bolster the sector in Qatar.

He said: “The industry has been always robust, given the influx of new products that enter Qatar’s market, especially after the World Cup 2022. Numerous investors and tourists understood the market value in Qatar during the FIFA tournament and apparently shifted their business interests to this part of the region.”

Noufal stressed the importance of the staggering market value, which reflects Qatar’s commitment to its national strategy vision 2030.

Albeit competent to withstand Qatar’s e-commerce industry, the digital commerce platform serves as a catalyst to residents across the country.

The expert added,“The online services industry is undoubtedly a challenge to the digital commerce due to its latest and enhanced technologies. However, our analysis clarifies that the sector implements an integrated approach to the customer journey and fosters a unified buying experience.”

He added that the surging population in Qatar has resulted in a significant boost for the market.

“We forecast an amazing track record for the sector in the coming years and are optimistic to see a lot of individuals contributing towards Qatar’s GDP growth.”

In its report, Statista mentions that the number of users in the digital commerce market is anticipated to reach a total of 2.83 million users during the forecast period.

However, the average transaction value per user in the industry is expected to reach a total worth of $3.96k in 2024.

As Qatar strives in the race for competitive digital commerce, the US tops in the global perspective with the highest transaction value amounting to $2.2 trillion in 2024.

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