Market Trends of Oman E-commerce Industry
Raising Internet Penetration in Oman has a Positive Impact on the Market
Oman's population exceeds 4.61 million, with an internet penetration rate of over 80%. The country is rapidly approaching full smartphone penetration, boasting high mobile broadband coverage and extensive 4G availability. In recent years, significant investments in IT infrastructure have been made at both governmental and private levels. Mobile phone subscriptions in Oman are on the rise, surpassing a penetration rate of 150%. The latest data from the National Centre for Statistics and Information indicates a notable increase in internet subscriptions. By the end of 2023, mobile broadband subscriptions had reached 6 million, marking a 5.5% growth from the previous year. Fixed internet subscriptions also saw growth, reaching 563.7 by the end of 2023, a 4.6% increase from the previous year. Oman's international internet capacity has expanded, with subscriptions hitting 2.6 million by the end of 2023, a 5.3% increase from 2022. This trend underscores the country's growing reliance on mobile internet services and the sustained demand for fast and reliable connectivity. Key market players are continuously enhancing their offerings to meet the needs of this burgeoning market.
Increased Disposable Income and Urbanization is Expected to Fuel this Market
The growth of e-commerce in Oman is projected to witness a substantial rise in the upcoming years. This surge can be attributed to the rise in disposable incomes and the growing urban population. As joint families become less prevalent and nuclear families gain popularity, Omanis are increasingly adopting online shopping for its convenience and time-saving advantages. With hectic lifestyles and a preference for tailored experiences, consumers are gravitating toward e-commerce platforms to cater to their varied requirements.
