Oman Digital Transformation Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.44 Billion |
| Market Size (2029) | USD 4.17 Billion |
| CAGR (2024 - 2029) | 11.36 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oman Digital Transformation Market Analysis
The Oman Digital Transformation Market size is estimated at USD 2.44 billion in 2024, and is expected to reach USD 4.17 billion by 2029, growing at a CAGR of 11.36% during the forecast period (2024-2029).
- Oman, with its rich history and forward-thinking vision, is undergoing a great shift, with digital transformation at its center. Oman's digital transformation market is driven by several factors, including government initiatives like Vision 2040, which aims to diversify the economy and enhance technology adoption.
- Increased investments in IT infrastructure, growing demand for smart city solutions, and the rise of fintech and e-commerce are driving the market's growth opportunities significantly. In addition, the push for enhanced cybersecurity, cloud services, and AI technologies contributes substantially. The country has witnessed accelerated digital adoption, emphasizing the need for resilient digital systems and remote working capabilities. Collaboration between the public and private sectors further propels this transformation.
- The expanding trend of multi-cloud operation and the increasing need for cloud-based intelligence services in Oman are driving 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 technologies. Moreover, 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.
- The market witnesses intense competition driven by both established and emerging players. These entities are adopting a mix of organic and inorganic strategies to enhance their competitive edge, fueling further growth opportunities. For instance, in April 2024, Oman Broadband introduced its data center services throughout Oman, signifying a major leap in terms of supporting the nation's journey toward digital transformation and achieving its economic diversification objectives. The company now boasts over 40 advanced data centers that span every governorate and major wilayat, thereby playing a fundamental role in Oman's digital advancement.
- However, high dependence on external sources in order to balance the skill deficit in the country's digital transformation landscape may restrict the growth of the market studied primarily due to the shortage of future tech-skill professionals.
- The COVID-19 pandemic has favorably impacted the digital transformation sector in Oman. Due to the shutdown, most firms faced massive losses and were compelled to invest heavily in digitizing their operations. Hence, in the post-COVID-19 environment, the market has witnessed a significant rise in industrial automation, bolstering digital technologies during the forecast period.
Oman Digital Transformation Market Trends
Ongoing Events and Tourism Demanding Automation to Drive Growth
- Oman's digital transformation market is witnessing robust growth, propelled by rising demands for automation in its dynamic events and tourism sectors. Anchored by initiatives like Oman Vision 2040, the nation is prioritizing technological advancements to drive economic diversification. Central to this vision, the tourism sector is harnessing digital tools to elevate visitor experiences and optimize its operations. From automated ticketing systems to virtual tours and enhanced customer service, these digital solutions not only boost efficiency but also cater to the preferences of today's tech-savvy travelers.
- Moreover, prominent events like the Muscat Festival are embracing advanced digital platforms to enhance their management and engagement capabilities. This rising appetite for automation in the events and tourism domain is spurring investments in IT infrastructure, cloud computing, and AI, thereby accelerating Oman's digital evolution. The escalating need for automation and the integration of advanced technologies in Oman's events and tourism sector are fueling the demand for digital transformation solutions. Furthermore, the nation's tourism landscape is bolstered by a growing number of recurring events, including the likes of the Global Travel Week Middle East and HORECA Oman, both hosted in Oman.
- 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 May 2024, Bahwan Travel Agencies, a prominent player in Oman's travel landscape, and Sabre Corporation, a leading technology provider for the travel sector, reaffirmed their commitment to advanced technology by extending their strategic partnership. This move underscores their joint mission to propel business growth in Oman.
- The renewed agreement grants Bahwan Travel Agencies continued access to Sabre's suite of advanced technologies, headlined by its flagship platform, Sabre Red 360. Furthermore, Bahwan Travel Agencies is set to leverage Sabre's Automation Hub, APIs, Automated Exchanges and Refunds, and the E-Ticket Report. These tools are poised to bolster Bahwan's digital footprint, elevate service differentiation, and offer customers a more personalized and seamless booking journey.
- In September 2023, Branchspace, a travel technology firm, and Oman Air, the Sultanate of Oman's flagship airline, forged a strategic alliance. Their goal is to launch an innovative digital retailing platform for the airline. This initiative encompasses a comprehensive overhaul of Oman Air's mobile application and website. The focus is on enhancing the airline's digital customer journey, leveraging data-driven retail strategies.
- In June 2023, the Ministry of Heritage and Tourism unveiled the 'Oman Tourism Hub,' a digital Partner Support Platform. This initiative, a cornerstone of Oman's broader tourism development strategy, aims to swiftly cater to partners across the nation's travel and tourism landscape. The platform not only streamlines service delivery but also provides insights into ministry-organized events.
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IoT to Witness the Market Growth
- IoT significantly drives Oman's digital transformation, empowering organizations to harness connected devices and data. This integration enhances operations, elevates customer experiences, and fosters innovation. Through IoT adoption, businesses access real-time insights, automate operations, optimize resources, and pivot toward data-driven strategies.
- The Internet of Things (IoT) is a key driver in propelling Oman's digital transformation market forward. By bolstering efficiency and connectivity, IoT is reshaping various sectors. In the oil and gas industry, for instance, IoT plays a pivotal role in predictive maintenance and real-time monitoring, ultimately enhancing operational efficiency. Similarly, the healthcare sector harnesses IoT-enabled devices for remote patient monitoring and data analytics. Furthermore, IoT is instrumental in bolstering Oman's agricultural sector, particularly through the implementation of smart farming technologies. This widespread integration of IoT not only expedites digital transformation but also spurs innovation and attracts investments to Oman's tech landscape.
- Oman's manufacturing sector stands out as a key player in embracing IoT technologies. These technologies find diverse applications in asset monitoring, predictive maintenance, supply chain optimization, and process automation. By utilizing IoT-enabled sensors and connectivity, manufacturers in Oman are not only enhancing operational efficiency and product quality but also minimizing downtime. With Omani businesses increasingly embracing IoT, the nation is poised to leverage connectivity, fast-track its digital transformation, and solidify its standing as a rising star in IoT solutions.
- In March 2024, Oman Data Park (ODP) and ITHCA Group unveiled Jabreen Smart Infrastructure Solutions, a comprehensive suite encompassing cloud, AI, and cybersecurity offerings tailored for the Omani market. Under its new banner, Jabreen Smart Infrastructure Solutions is committed to delivering advanced technical solutions that meet global benchmarks. Notably, the initiative is poised to revolutionize cost structures, shifting from traditional capital outlays to more flexible operational expenses, especially as it embraces AI technologies.
- Furthermore, Jabreen Smart Infrastructure Solutions is set to be an essential element in Oman's digital evolution, enhancing the deployment of advanced AI, IoT, and cybersecurity systems for governmental bodies, financial institutions, and enterprises.
Oman Digital Transformation Industry Overview
The competitive rivalry in digital transformation is high due to the presence of various 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.
- April 2024: In a strategic move, ADQ, the investment powerhouse from Abu Dhabi, partnered with the Oman Investment Authority (OIA), represented by ITHCA Group, to unveil the Jasoor Fund, a significant USD 180 million initiative. This fund, tailored for the tech landscape, is set to invigorate Oman's digital economy and extend its impact to the wider MENA region. It would particularly support companies in sectors like FinTech, EdTech, HealthTech, cleantech, agriculture, and logistics.
- September 2023: Noventiq, a provider of digital transformation and cybersecurity solutions, achieved a significant milestone with the launch of its operations and portfolio in Oman. At the event, Noventiq not only showcased its advanced solutions but also emphasized its commitment to driving digital transformation. The company also presented a forward-looking vision, highlighting its diverse range of solutions and capabilities. These offerings are set to benefit a broad spectrum of organizations in Oman and the wider META region (Middle East, Turkey, and Africa).
Oman Digital Transformation Market Leaders
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Google LLC (Alphabet Inc.)
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IBM Corporation
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Microsoft Corporation
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Hewlett Packard Enterprise Company
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SAP SE
*Disclaimer: Major Players sorted in no particular order
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Oman Digital Transformation Market News
- April 2024: AWASR, Alliance Networks, and AMS-IX have jointly unveiled Oman-IX, an internet exchange point poised to redefine digital infrastructure not only in the Middle East but also on a global scale. The primary objective of launching Oman-IX is to elevate digital infrastructure services by introducing a neutral internet exchange. This exchange will interconnect prominent telecom industry networks, hyper-scale data centers, and cloud services.
- February 2024: Omantel, the integrated telecommunication services provider in Oman, solidified its cloud dominance through a strategic collaboration with Huawei, a worldwide player in cloud services. This partnership projects Omantel to the forefront of the cloud industry, paving the way for significant advancements. With this move, Omantel is poised to offer advanced technology, global expertise, robust data security, and local data hosting services to a wide spectrum of entities in Oman.
Oman Digital Transformation Market Report - 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 INSIGHTS
- 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 Assessment of the Impact and Recovery from COVID-19
- 4.4 Analysis of Key Regulatory Reforms
5. MARKET DYNAMICS
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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
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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
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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. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 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
** Subject To Availablity**Subject to Availability
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 mainly based on the market insights that are captured through secondary research and the primaries. The market also covers the key factors impacting the growth of the market in terms of drivers and restraints.
The Oman Digital Transformation Market is Segmented by Component (Hardware, Software, IT and Infrastructure Services, and 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, and Other End Users (Environment, Transportation, and Media & Entertainment). The Market Sizes and Forecasts are Provided in Terms of Value (USD) 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) |
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Oman Digital Transformation Market Research FAQs
How big is the Oman Digital Transformation Market?
The Oman Digital Transformation Market size is expected to reach USD 2.44 billion in 2024 and grow at a CAGR of 11.36% to reach USD 4.17 billion by 2029.
What is the current Oman Digital Transformation Market size?
In 2024, the Oman Digital Transformation Market size is expected to reach USD 2.44 billion.
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, and what was the market size in 2023?
In 2023, the Oman Digital Transformation Market size was estimated at USD 2.16 billion. 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 Intelligenceā¢ 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.
Oman Digital Transformation Market Report Snapshots
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