Boston, MA -- (SBWire) -- 11/06/2013 --Vendors have continued to report strong revenues growth in the Oman market, fuelled by new technologies and products, as well as retail channel expansion. An evolving retail landscape and growing acceptance of hypermarket retailing will help to stimulate sales, with a growing population attracting more large retailers into the market. Vendors reported strong growth in the Oman market, as growing demand for high-end smartphones compensated for stagnant sales of feature phones. We forecast that spending on consumer electronics items will be boosted over the coming quarters by the government's plan to raise the monthly minimum salary of Omani private sector workers by around 60%, effective from July. Rising household incomes offer potential for strong growth in consumer electronics demand as consumers look to get their hands on the latest devices. Downside potential to our outlook is the impact of credit tightening and the regional property slump, which may see some slowdown in the rate of sales.
View Full Report Details and Table of Contents
Headline Expenditure Projections
Computer Hardware Sales: US$222mn in 2013 to US$261mn by 2017. Short-term increase in sales due to Windows 8 release, but long-term growth expected to slow considerably.
AV Sales: US$364mn in 2013 to US$502mn in 2017, remaining the largest segment of the market. Flatpanel TVs will encourage strong growth, as consumers move to access more content.
Handset Sales: Smartphone sales will drive the market up from US$242mn in 2013 to US$341mn in 2017. While mobile handsets usually have higher replacement rates the higher cost of smartphones will reduce this somewhat.
Risk/Reward Rating
Oman's score was 47.1 out of 100.0, with a relatively small market offsetting its relatively high Country Risk score. Oman was eighth in our latest RRR table, but due to the relative affluence of Omani consumers this will remain a valuable regional market for vendors.
Key Trends & Developments
- Tablets are enjoying a boom in Oman. Despite originally being viewed as a consumer device, they are now being adopted increasingly in the enterprise segment. Tablets are generally significantly more expensive than smartphones, but prices will continue to fall. They are therefore an important growth area in 2013. Meanwhile, vendors are also heavily promoting the concept of ultrabooks.
About Fast Market Research
Fast Market Research is an online aggregator and 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 will 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:
- Indonesia Consumer Electronics Report Q4 2013
- Chile Consumer Electronics Report Q4 2013
- Thailand Consumer Electronics Report Q4 2013
- Turkey Consumer Electronics Report Q4 2013
- Colombia Consumer Electronics Report Q4 2013
- Bulgaria Consumer Electronics Report Q4 2013
- Philippines Consumer Electronics Report Q4 2013
- Bahrain Consumer Electronics Report Q4 2013
- Mexico Consumer Electronics Report Q4 2013
- Peru Consumer Electronics Report Q4 2013
New Report Available: Oman Consumer Electronics Report Q4 2013
New Consumer Goods research report from Business Monitor International is now available from Fast Market Research