Oman's IT infrastructure and telecommunications sectors are in for a major leap by 2026 as the ICT spending in the Sultanate of Oman is set to reach $3.23 billion in 2023 and $3.49 billion by 2026.
According to the predictions released by International Data Corporation (IDC), ICT spending in the Sultanate is to grow from $1.30 billion in 2023 to $1.42 billion in 2026.
This predictions further aligns Oman’s endeavour to build ICT infrastructure to reduce the digital divide through its National Broadband Strategy, which envisions providing broadband service to more than 90 per cent of urban areas by 2030.
“In order for the organisations in Oman to succeed in new market environments, they will need to invest in strengthening their digital resiliency so they are better positioned as conditions continue to change and this will help them navigate storms of disruption," says Jyoti Lalchandani, IDC's group vice-president and regional managing director for the META region.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets.
Announcing the regional forecasts, the report further says that regardless of what the economy would be over the coming 12 months, the implementation of further digitalisation in critical areas such as customer experience, operations and financial management, together with a more rapid shift to a 'digital business' approach will be key to separating the thrivers from the survivors.
"To this end, we expect to see digital transformation spending as a share of overall IT spending continue to grow, reaching $1.42 billion in 2026, up from $1.30 billion in 2023," Lalchandani said.
The report further elucidates that spending on Enterprise IT in Oman will reach $0.55 billion and consumer spending will reach $0.70 billion in 2023.
"In a digital-first economy, where an enterprise's competitiveness is tied to its digital business model, leaders will avoid wholesale cutbacks in tech. Further, new tactics will be employed as tech leaders seek to realise maximum business value from their tech investments," the report substantiates.
Source: https://www.omanobserver.om/article/1135196/oman/omans-telecommunications-sector-in-for-a-major-leap