Boston, MA -- (ReleaseWire) -- 03/31/2014 -- The relatively small size of the domestic market limits the potential of the Omani market, but nonetheless vendors have continued to be attracted by the opportunities presented by wealthy and technologically literate consumers. Vendors have reported strong revenue growth in Oman, fuelled by new technologies and products and retail channel expansion. Demand for smartphones, tablets and smart TVs has been particularly strong due to declining prices as competition between vendors intensifies. While the overall outlook is positive, there is downside risk posed by the potential for credit tightening and regional property slump, which may see some slowdown in the rate of sales as household curtail spending. Headline Expenditure Projections
Computer Hardware Sales: US$232mn in 2013 to US$277mn in 2018. Tablet sales are reshaping the market as they cannibalise notebook sales, driving strong unit growth, but value growth will underperform as consumers switch form notebooks to cheaper tablets.
View Full Report Details and Table of Contents
AV Sales: US$345mn in 2013 to US$411mn in 2018, remaining the largest segment of the market. Flatpanel TVs will encourage strong growth, as consumers move to access more content. Handset Sales: US$222mn in 2013 to US$298mn in 2018. The handset market is the most dynamic segment of the consumer electronics market, with spending growth driven by upgrades to smartphones which are taking an increasing share of total handset sales.
Key Trends And Developments
- Smartphone and tablet sales are booming in Oman, driven by intense competition between vendors in the Android ecosystem. Although Apple's iPhone and iPad was the initial catalyst for the growth of the smartphone and tablet markets, it is sales of Android devices that account for the largest share of the market. Apple retains leadership in the tablet market but has long since been eclipsed in the smartphone market. Samsung is the leading vendor by some distance, capitalising on strong retail and distribution, handset range and quality, and the localisation of products and services. However competition is intense, which has put downwards pressure on prices, a trend that is expected to continue as Chinese vendors Lenovo and Huawei look to extend their success in their domestic market to the Middle East by signing new distribution deals.
- Meanwhile, flat-panel TV sets will be the main driver of AV category sales growth over the forecast period as consumers upgrade and trade their old models for digital. The market's development should be boosted after planned moves by the Gulf Co-operation Council to encourage a migration from analogue to digital TV broadcasting. In 2014 the ability to download, stream and view digital content has been cited by regional consumers as a key reason to upgrade. Smart TV sets already account for around onethird of regional TV set sales for some multinational vendors, and this ratio could double in 2014.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Thailand Consumer Electronics Report Q2 2014
- Venezuela Consumer Electronics Report Q2 2014
- South Africa Consumer Electronics Report Q2 2014
- Bahrain Consumer Electronics Report Q2 2014
- Israel Consumer Electronics Report Q2 2014
- Chile Consumer Electronics Report Q2 2014
- Bulgaria Consumer Electronics Report Q2 2014
- Peru Consumer Electronics Report Q2 2014
- Serbia Consumer Electronics Report Q2 2014
- Indonesia Consumer Electronics Report Q2 2014