Oman ICT Market Size (2024 - 2029)

Oman ICT Market Analysis

The Oman ICT Market size is estimated at USD 5.47 billion in 2024, and is expected to reach USD 9.07 billion by 2029, growing at a CAGR of 8.88% during the forecast period (2024-2029).

 The IT sector in Oman has been experiencing significant growth and development in recent years, with numerous opportunities and future trends emerging. The ICT market in Oman is being driven by considerable increases in private and public investment, increased consumer spending, and expanding demand for cloud services.

• Oman boasts a well-developed mobile network infrastructure, with multiple service providers offering comprehensive coverage nationwide. The widespread availability of mobile networks has significantly contributed to increased connectivity and accessibility for individuals and businesses. Oman has witnessed the adoption of advanced mobile technologies, including 4G and 5G, providing faster internet speeds and supporting innovative applications and services.
• Broadband internet services drive digital transformation and enable various online activities. Oman has made significant progress in expanding fixed and wireless broadband infrastructure to cater to the increasing demand for high-speed internet connectivity. For instance, in June 2023, the 5G network of Ooredoo Oman, a division of the international telecommunications company Ooredoo with headquarters in Qatar, was announced to be accessible throughout Oman. The business claimed recently on LinkedIn that their 5G is everywhere and anywhere in Oman.
• Overall, Oman's significant investments in establishing strong international connectivity may ensure seamless communication and data exchange with the global network. Furthermore, the country is expected to be served by several international submarine cables, providing reliable and high-capacity links to various international destinations in the coming years. This connectivity enables businesses to operate globally, enhances communication with international partners, and supports the growth of Oman's digital economy.
• The uncertainty and financial challenges associated with economic crises across the country can deter businesses from making significant investments in the ICT sector. Companies may postpone or scale back their plans for ICT infrastructure upgrades, software implementations, and digital transformation initiatives. The reduced investment can slow down the overall pace of technological advancements and hinder the competitiveness of the ICT industry.
• The COVID-19 outbreak 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. As indicated in the graph, this has also resulted in the growth of mobile cellular connections, further bolstering digital technologies during the forecast period.

Oman ICT Industry Segmentation

The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from various types such as hardware, software, IT services, and telecom services used in various end-user industries across Oman. In addition, the study provides the Oman ICT market trends, along with key vendor profiles. 

The study further analyses the overall impact of the COVID-19 pandemic on the ecosystem. By type, the market is segmented into hardware, software, IT services, and telecommunication services. By size of the enterprise, the market is segmented into small and medium enterprises and large enterprises. By industry vertical, the market is segmented into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, energy and utilities. 

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