Oman Digital Transformation Market Size (2024 - 2029)

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 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.