Oman Digital Transformation Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.36 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oman Digital Transformation Market Analysis
The Omani digital transformation market was valued at USD 1,889.8 million last year. It is expected to grow at a CAGR of 11.36%, reaching USD 3,560.0 million in the next five years. Digital transformation entails implementing digital technologies in several areas of an organization, particularly changing how a company functions and provides value to customers. Business services may benefit from digital transformation by improving operations, improving client experiences, building a brand reputation, and increasing customer retention.
- With the introduction of Industry 4.0 in the manufacturing sector, numerous factories are embracing digital technology to improve, automate, and upgrade the whole process. Industry 4.0 technology, such as robotization, is popular in many enterprises.
- Furthermore, the expanding trend of multi-cloud operation and the increasing need for cloud-based intelligence services drive demand in the market studied. The latest AI technologies add unique and increased value to cloud computing. This component improves overall process viability and is necessary for incorporating new technology.
- Digital twin technology combines 3D models from computer-aided design (CAD) software with historical data, multi-physics, and probabilistic simulation. The concept is also utilized in operations. It helps to inform decision-making around optimizing production and maintenance by assessing how events or actions affect a virtual model of an asset. Because it is possible to model existing conditions and simulate extreme circumstances, the digital twin allows the operator to evaluate the most appropriate procedures to ensure optimal production and personnel safety.
- High dependence on external sources to balance the skill deficit in the country's digital transformation landscape may limit the growth of the studied market primarily due to the shortage of future tech-skill professionals.
- The COVID-19 pandemic has favorably impacted the digital transformation sector. Due to the shutdown, most firms faced massive losses and were compelled to invest heavily in digitizing their operations. This has also resulted in the growth of cellular mobile, further bolstering digital technologies during the forecast period.
Oman Digital Transformation Market Trends
Ongoing Events and Tourism Demanding Automation to Drive the Market Growth
- The increasing demand for automation and the application of advanced technologies in the country's event and tourism sector is driving the demand for digital transformation solutions. Such factors are positively impacting the growth of the market in the country. Oman's tourism sector has witnessed significant growth in the past few years due to various government initiatives. The tourism sector in the country is further proliferated by the increasing ongoing events in the travel sector, such as Global Travel Week Middle East hosted by Oman, HORECA Oman, etc.
- The event, travel, and tourism sector companies in the country are partnering with digital transformation market vendors to enhance automation practices to serve customers better. For instance, in December 2022, ZaharaTravel, a corporate travel specialist in Oman, announced a partnership with Amadeus to expand its premium customer offering. With the partnership with Amadeus, the corporate travel specialist firm aims to boost its level of automation to provide enhanced and personalized customer service.
- Furthermore, in March 2023, the Ministry of Heritage and Tourism and Microsoft signed a Memorandum of Understanding (MoU) to accelerate digital transformation in the national heritage and tourism sectors. This move aligns with the ministry's mission to promote the heritage and tourism sectors by applying best practices and increasing the competitiveness of tourism destinations and experiences. The MoU defines the scope of cooperation between Microsoft and the ministry, which aims to accelerate the ministry's digital transformation journey by adopting Microsoft cloud-enabled solutions with objectives to increase employees' productivity and drive innovation.
- Such developments, increasing investments in the tourism sector, and the booming event and tourism sector in the country are driving the need for automation to enhance customer experience. Such factors are expected to positively impact the market growth in the future.
IoT to Witness the Market Growth
- IoT plays a significant role in the digital transformation market, as it allows organizations to leverage the power of connected devices and data to improve their operations, enhance customer experiences, and drive innovation. By integrating IoT technologies into their systems and processes, businesses can gain real-time insights, automate tasks, optimize resource utilization, and make data-driven decisions.
- In the digital transformation market, IoT enables various applications, such as smart cities, industrial automation, connected healthcare, smart homes, retail, and supply chain optimization. Some key areas where IoT impacts include connected devices and services, data collection and analytics, improved operational efficiency, enhanced customer experience, supply chain optimization, smart cities and infrastructure, and security and privacy considerations.
- Moreover, internet users and mobile cellular connections might provide the necessary infrastructure for IoT devices to connect and communicate with each other and centralized systems. Robust internet connectivity ensures seamless data transmission and enables real-time monitoring and control of IoT devices and systems.
- The manufacturing sector in the country is a significant adopter of IoT technologies, leveraging them for various applications such as asset monitoring, predictive maintenance, supply chain optimization, and process automation. IoT-enabled sensors and connectivity help improve operational efficiency, reduce downtime, and enhance product quality. Further, as businesses in Oman continue to adopt IoT technology, the nation is well-positioned to take advantage of connectivity, accelerate digital transformation, and establish itself as an emerging player in IoT-driven solutions.
Oman Digital Transformation Industry Overview
The competitive rivalry in digital transformation is high due to the presence of numerous solution providers and technological innovation in the industry. Notably, to maintain the market share and retain new and existing consumers, the companies are regularly altering their pricing schemes, which creates pricing pressure on other companies, thereby augmenting the competition in the market.
- In January 2023, Oman Trading Establishment Group collaborated with SAP SE to migrate to a private cloud and use digital solutions to increase efficiency, strengthen sustainability initiatives, and improve customer service and staff engagement. IntelliSoft, an SAP gold partner specializing in the automobile sector, is the implementation partner for digital transformation.
- In December 2022, Casa Systems, Enea, and IBM developed a complete Private 5G solution for service providers to implement or for businesses to build Private 5G solutions that are more scalable, dynamically adjustable, dependable, and secure. With the help of IBM's Cloud Pak for Network Automation, CSPs can modernize their networks, transition to zero-touch operations, lower OPEX, and offer faster services while advancing telcos' zero-trust goal.
Oman Digital Transformation Market Leaders
Google LLC (Alphabet Inc.)
IBM Corporation
Microsoft Corporation
Hewlett Packard Enterprise Company
SAP SE
*Disclaimer: Major Players sorted in no particular order
Oman Digital Transformation Market News
- In April 2023, Muscat Leading Investment Group, a company in Oman, planned to adopt digital transformation solutions using SAP and Inflexion. Through this digital transformation journey powered by Inflexion and SAP, Muscat's Leading Investment Group may get greater visibility and control over all aspects of its business operations, enabling it to respond quickly to the changing needs of all stakeholders and the dynamic business environment.
- In October 2022, Siemens announced to partner with OTE Group, one of Oman's most prominent business houses, in delivering its industry-leading electric vehicle (EV) chargers to help accelerate the country's adoption of EVs and its transition to a sustainable future. Siemens' smart solutions can be helpful in connecting buildings, transit networks, and businesses to an ecosystem that ties the physical and digital worlds together. The development of smart buildings, smart grids, smart power distribution, and better e-mobility charging options is made possible by the digitalization of infrastructure. Also, this technology is expected to drive the expansion of electric vehicles in Oman.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 An Assessment of the Impact and Recovery from COVID-19
4.4 Analysis of Key Regulatory Reforms
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Ongoing Events and Tourism Demanding Automation
5.1.2 Government Policies and Ppp Initiatives
5.1.3 Rising Industrial Automation
5.2 Market Challenges
5.2.1 High Dependence on External Sources to Balance the Skill Deficit
5.2.2 Heavy Dependence on Oil and Gas Sector
5.3 Key Use Cases
5.4 Case Studies from GCC
5.5 Government Projects and Initiatives
5.6 Ecosystem Analysis
5.7 Market Entry Strategy Analysis (Not Specific to Organization)
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Software
6.1.3 IT and Infrastructure Services
6.1.4 Telecommunication Services
6.2 By Technology
6.2.1 Analytics and AI and Ml
6.2.2 IoT
6.2.3 Edge Computing
6.2.4 Industrial Robotics
6.2.5 Extended Reality
6.2.6 Blockchain
6.2.7 Cybersecurity
6.2.8 3D Printing
6.2.9 Other Technologies
6.3 By End-user Industry
6.3.1 Oil, Gas, and Utilities
6.3.2 Travel and Hospitality
6.3.3 Healthcare
6.3.4 Financial Services
6.3.5 Manufacturing and Construction
6.3.6 Government and Defense
6.3.7 Other End-user Industries (Environment, Transportation, Media and Entertainment)
7. KEY VENDOR PROFILES
7.1 Company Profile
7.1.1 Google LLC (Alphabet Inc.)
7.1.2 IBM Corporation
7.1.3 Microsoft Corporation
7.1.4 Hewlett Packard Enterprise Company
7.1.5 SAP SE
7.1.6 Omani Qatari Telecommunications Company SAOG (Ooredoo Oman)
7.1.7 Oracle Corporation
7.1.8 Oman Computer Services LLC (OCS Infotech)
7.1.9 Siemens AG
7.1.10 Amazon Web Services Inc. (Amazon.Com Inc.)
7.1.11 Oman Telecommunications Company
8. INVESTMENT ANALYSIS
Oman Digital Transformation Industry Segmentation
The digital transformation market is defined based on the revenues generated from technologies such as AI and ML, extended reality (VR and AR), IoT, industrial robotics, blockchain, 3D printing, cyber security, and edge computing, among others, that are being used in various end-user industries across Oman. The analysis is based on the market insights captured through secondary research and the primaries. The market also covers the major factors impacting the growth of the market in terms of drivers and restraints. The scope of the study has been segmented based on technology (analytics and AI and ML, IoT, edge computing, industrial robotics, extended reality, blockchain, cybersecurity, 3D printing, and other technology) and end-user industry (oil, gas, and utilities, travel and hospitality, healthcare, financial services, manufacturing and construction, government and defense, and other end-user industries (environment, transportation, and media and entertainment)) across Oman.
The Oman digital transformation market is segmented by component (hardware, software, IT and infrastructure services, telecommunication services), technology (analytics and AI and Ml, IoT, edge computing, industrial robotics, extended reality, blockchain, cybersecurity,3D printing), and end-user industry (oil, gas, and utilities, travel and hospitality, healthcare, financial services, manufacturing and construction, government and defense, others (environment, transportation, and media and entertainment). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Component | |
| Hardware | |
| Software | |
| IT and Infrastructure Services | |
| Telecommunication Services |
| By Technology | |
| Analytics and AI and Ml | |
| IoT | |
| Edge Computing | |
| Industrial Robotics | |
| Extended Reality | |
| Blockchain | |
| Cybersecurity | |
| 3D Printing | |
| Other Technologies |
| By End-user Industry | |
| Oil, Gas, and Utilities | |
| Travel and Hospitality | |
| Healthcare | |
| Financial Services | |
| Manufacturing and Construction | |
| Government and Defense | |
| Other End-user Industries (Environment, Transportation, Media and Entertainment) |
Frequently Asked Questions
What is the current Oman Digital Transformation Market size?
The Oman Digital Transformation Market is projected to register a CAGR of 11.36% during the forecast period (2024-2029)
Who are the key players in Oman Digital Transformation Market?
Google LLC (Alphabet Inc.) , IBM Corporation, Microsoft Corporation, Hewlett Packard Enterprise Company and SAP SE are the major companies operating in the Oman Digital Transformation Market.
What years does this Oman Digital Transformation Market cover?
The report covers the Oman Digital Transformation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oman Digital Transformation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oman Digital Transformation Industry Report
Statistics for the 2024 Oman Digital Transformation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oman Digital Transformation analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
