2013-03-23 08:19:44 - Recently published research from Business Monitor International, "Oman Consumer Electronics Report Q2 2013", is now available at Fast Market Research
BMI View: Rising household incomes offer potential for strong growth in consumer electronics demand as consumers look to get their hands on the latest devices. Flat-screen TVs and smartphones will drive volume sales, with the replacement cycle for mobile handsets comparatively shorter than other segments.
Nevertheless, the rising price of smartphones means new devices are bought slightly less often, although the value of the market continues to increase. 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.
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.
Report Details at
- www.fastmr.com/prod/552364_oman_consumer_electronics_report_q2_2 ..
AV sales: US$345mn in 2013 to US$446mn in 2017, remaining the largest segment of the market. Flatscreen TVs will encourage strong growth, as consumers move to access more content.
Handset sales: Smartphone sales will drive the market up from US$222mn in 2013 to US$282mn in 2017. While mobile handsets usually have higher replacement rates the higher cost of smartphones will reduce this somewhat.
Oman's score was 46.1 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.
In Oman, TV sets account for more than half of all AV revenue. Flat-screen 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 GCC to encourage a migration from analogue to digital TV broadcasting.
The introduction of higher data transmission speeds will help to support the launch of new services over the next few years - this should help to stimulate strong growth within the smartphone sector. Increasing use of social media and mobile ecommerce are major factors driving the growth of the smartphone market in Oman. The advent of next generation 4G mobile services will provide a further incentive for mobile handset users to upgrade to smartphones as super-high internet speeds make it easier to access bandwidth-hungry video and data.
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Consumer Electronics Overview, 2010-2017
- Macroeconomic Forecast
- Table: GDP BY EXPENDITURE
Industry Risk Reward Ratings
- Industry Risk/Reward Ratings
- Table: Middle East And Africa Risk/Reward Ratings
- Table: PC Sales, 2010-2017
- Table: AV Sales, 2010-2017
- Table: Mobile Communications, 2010-2017
Industry Trends And Developments
- Table: Omani Distributors For Leading Brands
- Axiom Telecom
- Jumbo Electronics
- Eros Group
- Table: Oman's Population By Age Group, 1990-2020 ('000)
- Table: Oman's Population By Age Group, 1990-2020 (% of total)
- Table: Oman's Key Population Ratios, 1990-2020
- Table: Oman's Rural And Urban Population, 1990-2020
- Electronics Industry
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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