Software - Oman

  • Oman
  • In 2024, the projected revenue in the Software market in Oman is expected to reach US$132.30m.
  • The market is largely dominated by Enterprise Software , which is projected to have a market volume of US$55.24m by 2024.
  • Looking ahead, the revenue is expected to grow at an annual rate of 2.64% (CAGR 2024-2029), resulting in a market volume of US$150.70m by 2029.
  • In comparison to other countries, United States is expected to generate the highest revenue in the Software market, with a projected amount of US$363.40bn in 2024.
  • Oman is experiencing a growing demand for software solutions, driven by the government's push for digital transformation and the increasing adoption of technology in various sectors.

Key regions: United States, Canada, Germany, China, Japan

 
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Analyst Opinion

The demand for software in Oman has been increasing steadily in recent years, driven by several factors such as the growth of e-commerce and the increasing adoption of cloud computing.

Customer preferences:
Omani customers, like many others around the world, are increasingly looking for software solutions that are user-friendly, reliable, and secure. They are also interested in software that can be easily integrated with other applications and that can be accessed from anywhere, at any time. In addition, customers in Oman are increasingly interested in software solutions that can help them improve their productivity and efficiency, such as project management software, accounting software, and customer relationship management (CRM) software.

Trends in the market:
One of the key trends in the software market in Oman is the increasing adoption of cloud-based software solutions. Cloud computing has become increasingly popular in Oman in recent years, as it offers a number of benefits over traditional on-premise software, including lower costs, greater scalability, and improved security. Another trend in the market is the growing use of artificial intelligence (AI) and machine learning (ML) in software applications. AI and ML are being used to develop software solutions that can help businesses automate processes, analyze data more effectively, and provide more personalized customer experiences.

Local special circumstances:
One of the unique features of the software market in Oman is the government's focus on developing the country's digital infrastructure. The government has launched several initiatives aimed at promoting the use of technology in various sectors, including healthcare, education, and finance. This has created a favorable environment for software companies, as there is a growing demand for software solutions that can help these sectors become more efficient and effective.

Underlying macroeconomic factors:
The growth of the software market in Oman is also being driven by broader macroeconomic factors, such as the country's young and tech-savvy population, its strategic location as a gateway to the Gulf region, and its relatively stable political and economic environment. The government's efforts to diversify the economy away from oil and gas are also creating opportunities for software companies, as the country seeks to develop new industries and attract foreign investment. Overall, the outlook for the software market in Oman is positive, as the country continues to invest in its digital infrastructure and as businesses seek to leverage technology to improve their operations and better serve their customers.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises, except for the Enterprise Software segment, in which consumer (B2C) spending is not considered. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, level of digitization, GDP sector composition, and observed level of software piracy. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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