Oman ICT Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Oman ICT Market is segmented by type (hardware, software, IT services, telecommunication services), by the size of the enterprise (small and medium enterprises, large enterprises), by end-user vertical (BFSI, IT & telecom, government, retail, and E-Commerce, manufacturing, energy, and utilities, and other industry verticals). The market sizes and forecasts are provided in value (USD million) for all the above segments.

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Oman ICT Market Size

Oman ICT Market Summary
Study Period: 2018-2028
CAGR: 8.1 %

Major Players

Oman ICT Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Oman ICT Market Analysis

Oman's ICT Market is expected to grow at a CAGR of 8.1% over the next five years. Increasing emphasis on digital technology, cyber security, artificial intelligence, robotics, healthcare, and IT drives the market's growth.

  • The ICT sector includes both the IT and Telecom markets. IT investments are growing, and the ICT market demand is expected to grow significantly over the next five years. The increasing need to explore and adopt digital technologies and initiatives, the increase in the overall demand for digitalization and scalable IT infrastructure, the wide 5G network adoption, and the rising penetration of technology investments are significantly boosting the Oman ICT market growth.
  • Further, Government and private organizations are collaborating with many companies to anticipate new growth opportunities in the market over the next five years. For Instance, Oman signed a Sovereign Investment Partnership with the United Kingdom, its largest FDI partner, to facilitate joint investments in both countries.
  • According to the IMF (International Monetary Fund), Oman's GDP is expected to grow by USD 115.64 billion by 2027. The county's GDP is growing significantly with increasing IT investments that would create new growth opportunities for the Oman ICT market.
  • Key players in the ICT market are taking initiatives to deploy 5G services in Oman. For Instance, Omantel launched commercial 5G services, while Ooredoo Oman's parent company inked a 5G framework deal with Ericsson.
  • According to ITU, internet penetration in Oman is expected to grow steadily from 2019 to 2026. As per the research, the country's internet penetration increased from 85.6% in 2019. Also, Oman's internet penetration is expected to grow by 87.2% by 2026. The growing internet penetration will drive new growth opportunities for the Oman ICT market.
  • The COVID-19 pandemic situation influenced the Oman ICT market by deploying new technologies to increase efficiency, robotic process automation, big data, artificial intelligence, machine learning, blockchain, cloud computing, the internet of things, cybersecurity, and augmented/virtual reality and digital transformation are accelerating the growth of the Oman ICT market.

Oman ICT Industry Segmentation

Oman's ICT market includes deep analysis of critical technology investments such as cloud technologies and artificial intelligence.

Oman ICT Market is segmented by type (hardware, software, IT services, telecommunication services), by the size of the enterprise (small and medium enterprises, large enterprises), by end-user vertical (BFSI, IT & telecom, government, retail, and E-Commerce, manufacturing, energy, and utilities, and other industry verticals). 

The market sizes and forecasts are provided in value (USD million) for all the above segments.

By Type
Hardware
Software
IT Services
Telecommunication Services
By Size of Enterprise
Small and Medium Enterprises
Large Enterprises
By Industry Vertical
BFSI
IT and Telecom
Government
Retail and E-commerce
Manufacturing
Energy and Utilities
Other Industry Verticals

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Oman ICT Market Trends

This section covers the major market trends shaping the Oman ICT Market according to our research experts:

Growing demand for Cloud Technology

  • Oman's ICT industry is driven by the significant increase in private and state investment, rising consumer spending, and increasing demand for cloud services. For Instance, OICT(Oman Information and Communication Technology) GROUP, Oman Data Park, and Oracle have jointly Launched Oracle's Hyper-Scale Cloud Infrastructure Data Center in Oman as the first oracle cloud region in the Sultanate.
  • For Instance, Ooredoo, a Qatari telecommunications company, intends to develop three new data centers in Barka, Salalah, and Sohar to help local companies and communities in each location by providing world-class cloud storage, data recovery, and cyber security services. The increasing infrastructure development will increase demand for the adoption of cloud computing technology, creating new growth opportunities for the Oman ICT market.
  • Key players in the ICT market upgrade their existing technology with cloud computing solutions primarily drives the market growth. For Instance, 4i Apps Oracle premium partner organization strengthens its position as a leader in the Oracle Cloud portfolio by signing three large Oracle cloud public sector partnerships in the United Arab Emirates, Qatar, and Oman, respectively. The collaborations will accelerate digital transformation and serve as a benchmark for other regional public sector organizations.
  • Furthermore, the increasing investments by the government in promoting numerous technologies development, such as 5G, AI, IoT, machine learning, Big Data, etc. Additionally, the emergence of digital transformation is expected to drive the growth of the Oman ICT market. For Instance, Oman's attempts to achieve digital transformation will include a five-year MTCIT (Ministry of Transport, Communications, and Information Technology) plan that will feed into the Vision 2040 overall objectives. COMEX, Oman's most extensive official lineup for Government entities and enterprise companies showcasing their products, services, and ICT innovation, is the ideal place for technology buyers and decision-makers from public sectors, particularly those highlighted for growth in Oman Vision 2040, to attend and work together to achieve the shared vision for a better, integrated, and digital future.
  • Globalization in this region and the growing need for adopting advanced technologies such as Cloud, IoT, and artificial intelligence are boosting the market's growth. According to the IMF, Oman's GDP will be USD 115.64 billion by 2027. It indicates that the GDP is growing, and the development of the Oman ICT market is expected to grow over the next five years.
Oman ICT Market - Gross domestic product (GDP), in USD Billion, Oman, 2018 - 2027

The IT and Telecom Sector is Expected to Drive the Market

  • The increasing IT and Telecom infrastructure investments are driving the ICT market growth. For Instance, Helios Towers Plc, an independent telecoms infrastructure business, announced an agreement to buy the passive tower infrastructure portfolio of Oman Telecommunications Company (Omantel), the country's leading mobile network operator. Such infrastructure initiatives will bring new growth opportunities for the OmanICT market.
  • Cyberattacks are expected to continue to grow over the next five years. IT operation advancements will prevent the ICT market from cyberattacks. For Instance, Trend Micro Incorporated, a worldwide leader in cybersecurity solutions, discovered and stopped over 1.8 million email threats in Oman and prevented over 1.47 million malicious URL victim attacks and 10,914 URL hosts. Furthermore, nearly 1.4 million malware attacks were detected and prevented. Such initiatives will bring new growth opportunities for the OmanICT market.
  • The transition to 3G, 4G, and 5G is still rising in the country due to expanding new networks and increasing demand for high-speed connectivity services. For Instance, Oman Telecommunications Company (Omantel), the Sultanate's incumbent fixed and mobile provider, announced its deployed 5G services in the governorates of Muscat, Al Batinah South, and Al Batinah North. These new sites will service home, and mobile internet and customers will have optimal performance even at the edge of the coverage range.
  • The telecom industry growth is mainly due to the increasing population with the rising adoption of broadband services in the country. According to the Ookla Speedtest Global Index, Oman ranked 68th with a median fixed broadband download speed of 59.74 Mbps in November last year. Fixed broadband services penetration is growing significantly and thus increasing the demand for the telecom services sector.
Oman ICT Market - Fixed Broadband Median Speed, in Mbps, Oman, November 2022

Oman ICT Industry Overview

Oman's ICT market is moderately competitive and moving toward the fragmented stage as the market currently consists of various significant players. Some key players are Oracle, Cisco Systems, Hewlett Packard Enterprise, IBM, and Microsoft Corporation. Several key players in the ICT market are in constant efforts to bring advancements. Some of the critical growths in the market are:

May 2022 - Omantel, a leading integrated telecommunications services provider, and Microsoft have signed a Memorandum of Understanding to collaborate on driving business value and accelerating ICT innovation to support the telco's digital transformation strategy and streamline and improve services across the Sultanate.

June 2022 - Microsoft and the Ministry of Transport, Communication, and Information Technology (MTCIT) signed a Memorandum of Understanding today to collaborate on digitization skilling and coaching initiatives to assist Oman's Digital Transformation efforts.

Oman ICT Market Leaders

  1. Oracle

  2. Cisco Systems

  3. Hewlett Packard Enterprise

  4. IBM

  5. Microsoft Corporation

*Disclaimer: Major Players sorted in no particular order

Oman ICT Market Concentration

Oman ICT Market News

  • December 2022: MTCTI (The Ministry of Transport, Communications, and Information Technology) signed an agreement with Amazon Web Services in the United States to establish a local zone for cloud services and data processing in Oman. In addition, Oman Telecommunications Company (Omantel) inked a Memorandum of Understanding (MOU) with Amazon Web Services to strengthen its efforts to provide innovative solutions to its subscribers.
  • October 2022: Oracle extends collaboration with the government of the Sultanate of Oman to establish Oman's First Hyperscale Cloud Region.
  • June 2022: During the third day of COMEX 2022, the Sultanate of Oman's most significant technology, communications, innovation, and digital transformation exhibit, Omani software startup PhazeRo signed a Memorandum of Understanding with Microsoft. Microsoft and PhazeRo have agreed to work together to help identify growth opportunities and accelerate innovation for the software consulting firm in Oman and the Middle East.

Oman ICT Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Market Definition and Scope

    2. 1.2 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Stakeholder Analysis

    3. 4.3 Industry Attractiveness-Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Consistent Digital Transformation Initiatives

      2. 5.1.2 Robust Telecommunication Network

    2. 5.2 Market Restrain

      1. 5.2.1 Concerns Relating To Economic Crisis Across the Country

  6. 6. KEY TECHNOLOGY INVESTMENTS

    1. 6.1 Cloud Technology

    2. 6.2 Artificial Intelligence

    3. 6.3 Cyber Security

    4. 6.4 Digital Services

  7. 7. MARKET SEGMENTATION

    1. 7.1 By Type

      1. 7.1.1 Hardware

      2. 7.1.2 Software

      3. 7.1.3 IT Services

      4. 7.1.4 Telecommunication Services

    2. 7.2 By Size of Enterprise

      1. 7.2.1 Small and Medium Enterprises

      2. 7.2.2 Large Enterprises

    3. 7.3 By Industry Vertical

      1. 7.3.1 BFSI

      2. 7.3.2 IT and Telecom

      3. 7.3.3 Government

      4. 7.3.4 Retail and E-commerce

      5. 7.3.5 Manufacturing

      6. 7.3.6 Energy and Utilities

      7. 7.3.7 Other Industry Verticals

  8. 8. COMPETITIVE LANDSCAPE

    1. 8.1 Company Profiles

      1. 8.1.1 IBM

      2. 8.1.2 Microsoft Corporation

      3. 8.1.3 Huawei

      4. 8.1.4 Oracle

      5. 8.1.5 Wipro

      6. 8.1.6 Infosys

      7. 8.1.7 Aconex

      8. 8.1.8 Cisco Systems

      9. 8.1.9 Infoline LLC

      10. 8.1.10 Hewlett Packard Enterprise

      11. 8.1.11 Cognizant Technology Solution

      12. 8.1.12 Google LLC

      2. *List Not Exhaustive

  9. 9. INVESTMENT ANALYSIS

  10. 10. FUTURE OF THE MARKET

**Subject to Availability
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Oman ICT Market Research FAQs

The Oman ICT Market is studied from 2018 - 2028.

The Oman ICT Market is growing at a CAGR of 8.1% over the next 5 years.

Oracle, Cisco Systems, Hewlett Packard Enterprise, IBM, Microsoft Corporation are the major companies operating in Oman ICT Market .

Oman ICT Industry Report

Statistics for the 2023 Oman ICT market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oman ICT analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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