2014-01-04 23:58:15 - New Consumer Goods market report from Business Monitor International: "Oman Consumer Electronics Report Q1 2014"
Despite the relatively small size of the domestic market vendors have continued to be attracted into Oman's consumer electronics market. Vendors have reported strong revenue growth in Oman, fuelled by new technologies and products, especially smartphones and tablets, as well as retail channel expansion.
A growing population and rising incomes has attracted more large retailers, while global vendors have also been investing to expand distribution networks. 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
Full Report Details at
- www.fastmr.com/prod/754751_oman_consumer_electronics_report_q1_2 ..
Computer Hardware Sales: US$222mn in 2013 to US$261mn by 2017. Tablet sales are
reshaping the market as they cannibalise notebook sales. Tablet volume increases are sustaining the unit growth trajectory, but with consumer preference for low-cost Android devices, increases in market value are failing to keep pace.
AV Sales: US$364mn in 2013 to US$502mn in 2017, remaining the largest segment of the market. Flat-panel TVs will encourage strong growth, as consumers move to access more content.
Handset Sales: US$242mn in 2013 to US$341mn in 2017. The handset market is the most dynamic segment of the consumer electronics market, with spending growth driven by upgrades to smartphones.
Key Trends And Developments
* The smartphone market in Oman has developed rapidly and by mid-2013 it was estimated that smartphone penetration reached 65%. Although Apple's iPhone has proved popular it is sales of Android devices that account for the largest share of the market, with Samsung the prime beneficiary. 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. On the upside, 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.
* Many of the same vendors capitalising on the growth of smartphone sales are also benefiting from the boom in tablet volumes in Oman. The market was created by Apple's iPad, but as in the smartphone market it is Android partner vendors that have really driven the development of the market by introducing choice and price competition.
* In Oman TV sets account for more than half of all AV revenue. 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 2013 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 one-third of regional TV set sales for some multinational vendors, and this ratio could double in 2013.
Report Table of Contents:
BMI Industry View
- Consumer Electronics Market
- Business Environment
- Table: Consumer Electronics Overview, 2010-2017 (US$mn)
- Economic Analysis
- Table: Oman - Economic Activity
Industry Risk Reward Ratings
- Industry Risk/Reward Ratings
- Table: Middle East And Africa Consumer Electronics Risk/Reward Ratings, Q1 2014
- Table: PC Sales, 2010-2017 (US$mn, unless otherwise stated)
- Table: AV Sales, 2010-2017 (US$mn, unless otherwise stated)
- Table: Mobile Communications, 2010-2017
Industry Trends And Developments
- Table: Omani Distributors For Leading Brands
- International Companies
- Table: Huawei Technologies
- Table: Lenovo
- Table: Hewlett Packard
- Table: Samsung Electronics
- Axiom Telecom
- Jumbo Electronics
- Eros Group
- Demographic Outlook
- 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
- Industry Forecast Methodology
- Sector-Specific Methodology
- Risk/Reward Rating Methodology
- Sector-Specific Methodology
- Table: Consumer Electronics Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators
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