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Oman Consumer Electronics Report Q3 2011
Business Monitor International, June 2011, Pages: 47
Business Monitor International's Oman Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Oman's consumer electronics industry.
Oman’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is forecast at US$521mn in 2011. This is expected to increase to US$635mn by 2015, driven by new technologies and the growing popularity of digital lifestyle products such as LCD TV sets, feature-rich notebook computers and digital cameras, as well as other key product groups.
In 2011 an increase in government spending to allay social concerns about issues such as unemployment and inflation should bolster consumer spending. However, per -capita consumer electronics spend is expected to remain below pre-credit crunch levels in 2011-2015, as consumers still feel a negative wealth effect from the regional property slump and credit tightening, and many households have now purchased a flat-screen TV set. 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.
Computer hardware accounted for about 35% of Omani consumer electronics spending in 2010. BMI forecasts Oman’s domestic market computer hardware sales (including notebooks and accessories) will be US$183mn in 2011, up from US$173mn in 2010. Computer hardware compound annual growth rate (CAGR) for the 2011-2015 periods is forecast at about 7%, with growth drivers including the government’s Towards Digital Oman strategy. Wireless capabilities will boost demand for PCs, stimulated by new infrastructure investment.
Audio and video (AV) devices accounted for about 32% of Omani consumer electronics spending in 2010. Oman’s addressable AV device market is estimated at US$162mn in 2011. The market is expected to grow at a CAGR of 4% between 2011 and 2015, with growth drivers including 3D and LED TV sets and Blu-ray disc players.
Mobile handset sales accounted for about 34% of Omani consumer electronics spending in 2010. Oman’s market handset sales are expected to grow to US$207mn by 2015 as mobile subscriber penetration reaches 180%. There will be growing demand for 3G handsets and smartphones, with Oman Mobile launching prepaid BlackBerry services in 2010 and competitor Nawras responding with a range of competitive BlackBerry tariffs. Oman is in the regional vanguard of the mobile virtual network operator (MVNO) trend, following the launch of a third virtual operator, which could lead to a more segmented handset market.
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