Oman's ICT Market is expected to grow at a CAGR of 8.1% over the next five years. Increasing emphasis on digital technology, cyber security, artificial intelligence, robotics, healthcare, and IT drives the market's growth.
Oman's ICT market is moderately competitive and moving toward the fragmented stage as the market currently consists of various significant players. Some key players are Oracle, Cisco Systems, Hewlett Packard Enterprise, IBM, and Microsoft Corporation. Several key players in the ICT market are in constant efforts to bring advancements. Some of the critical growths in the market are:
May 2022 - Omantel, a leading integrated telecommunications services provider, and Microsoft have signed a Memorandum of Understanding to collaborate on driving business value and accelerating ICT innovation to support the telco's digital transformation strategy and streamline and improve services across the Sultanate.
June 2022 - Microsoft and the Ministry of Transport, Communication, and Information Technology (MTCIT) signed a Memorandum of Understanding today to collaborate on digitization skilling and coaching initiatives to assist Oman's Digital Transformation efforts.
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