2013-02-22 14:02:03 - Fast Market Research recommends "Oman Consumer Electronics Report Q1 2013" from Business Monitor International, now available
In 2013, BMI forecasts that spending on consumer durables such as PCs and flat-screen TV sets will continue growing robustly, largely on the back of expansionary fiscal policy. In the past year household incomes have risen significantly, a trend demonstrated by a large increase in demand for credit from businesses and domestic consumers. However, Oman's economy is forecast to have reached a cyclical peak in 2012, with high oil revenue feeding through to consumer spending on lifestyle products such as flat-screen TV sets, tablets and smartphones. BMI forecasts that per capita consumer electronics spend will reach US$309 by 2017. The pace of growth is likely to moderate however, as consumers continue to feel a negative wealth effect from the regional
property slump and credit tightening.
Vendors will rely on innovative products such as tablets, 3D and light emitting diode (LED) TV sets and feature-rich smartphones - and the roll-out of 3G services - to act as demand drivers in the Omani market.
Full Report Details at
- www.fastmr.com/prod/536525_oman_consumer_electronics_report_q1_2 ..
Headline Expenditure ProjectionsComputer hardware sales: US$207mn in 2012 to US$222mn in 2013, +5% in US dollar terms. Forecast in US dollar terms upwardly due to macroeconomic factors and the release of Windows 8 should provide a boost to replacement PC purchases.
AV sales: US$321mn in 2012 to US$345mn in 2013, +7% in US dollar terms. Forecast in US dollar terms unchanged, with the main driver being demand for flat-screen TV sets.
Handset sales: US$206mn in 2011 to US$222mn in 2012, +8% in US dollar terms. Forecast in US dollar terms unchanged, with smartphones on course to account for 60% of sales.
Risk/Reward Rating: Oman's score was 45.3 out of 100.0, with a relatively small market offsetting the relatively high Country Risk score. Oman was 9th 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 and despite originally being viewed largely as a consumer device, are now finding increasing adoption among the enterprise segment. Tablets are generally significantly more expensive than smartphones, but prices will continue to fall and they are seen as a 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 bandwidthhungry video and data.
Report Table of Contents:
- Oman Consumer Electronics Market SWOT
- Oman Political SWOT
- Oman Economic SWOT
- Oman Business Environment SWOT
- Table: Middle East And Africa Risk/Reward Ratings
Consumer Electronics Market
- Table: PC Sales, 2010-2017
- Table: AV Sales, 2010-2017
- Mobile Handsets
- Table: Mobile Communications, 2010-2017
Consumer Electronics Industry
- Table: Omani Distributors For Leading Brands
Industry Forecast Scenario
- Consumer Electronics Market
- Table: Consumer Electronics Overview, 2010-2017
- Table: Oman - GDP By Expenditure, Current Prices Breakdown
- 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
- How We Generate Our Industry Forecasts
- Electronics Industry
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