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Oman E-Commerce Market 2021 Booming Worldwide with Steady CAGR by 2026

Market Insights Reports delivers key insights on the E-Commerce market in its latest report titled, “Oman E-Commerce Market – Growth,…

By Staff , in Ecommerce Marketing , at June 25, 2021


Market Insights Reports delivers key insights on the E-Commerce market in its latest report titled, “Oman E-Commerce Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and Oman dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Oman E-Commerce Market was valued at USD 2.19 billion in 2020, and it is expected to reach USD 6.52 billion by 2026, registering a CAGR of 20.1% during the forecast period (2021-2026).

Market Overview:

– The E-Commerce market in Oman is rapidly increasing due to the increasing consumption rate and higher sales of smartphones in this region. However, the implementation of 4G and 5G technology for connectivity purpose is increasing the exposure of online shopping for customers. Therefore, technological awareness among customers is expected to have a significant impact on market growth.

– The different initiatives of the Oman government, such as OEC 2020, are fuelling the growth of this market. The main objective of this initiative is to unravel the future change of Governance, Transportation, Logistics, Commerce, which can infuse the digital transformation into the economy. Moreover, the growing GDP of this country will drive the primary growth of this market. According to the Ministry of Technology and Communication of Oman Sultanate, the percentage of internet users is increased by 4% from the previous year 2019.

– The major restraint of this market is the changing mindset of the consumers. Most of the consumers preferred to buy directly from the retail shops due to the high security of payments in offline payments. According to the World Bank, Oman’s economy is expected to contract by 3.5% in 2020. The primary reason behind this contract is the lower oil prices and the spread of COVID 19 across the world.

 (Exclusive Offer: Flat 30% discount on this report)

Get a Free Sample PDF Copy of the Latest Research on E-Commerce Market 2021 Before the purchase:

https://www.marketinsightsreports.com/reports/05202907335/oman-e-commerce-market-growth-trends-covid-19-impact-and-forecasts-2021-2026/inquiry?mode=28                              

Top Key Players in the Oman E-Commerce Market: Namshi, Amazon Inc. (Souq.com), LuLu Group International, Ubuy.com, ebay, Talabat, Mumzworld, Markeetex, VogaCloset, Salman Stores LLC, Danube Home, extra.com, Accelerated Trading and Technologies LLC (Akeed), Jazp, and Others.

Industry News and Update:

January 2020 – Ooredoo launched a new set of standards for its pay plus mobile wallet, which helps the customers to enable a wide range of transactions via a single app on a mobile device, including payments, deposits, and transfers. The company is also able to start its services in 1500 locations across the country, such as Oman Oil petrol stations, McDonald’s, Caribou cafe, Nesto, etc.

Key Market Trends:

Growing Internet Consumption will drive the Market

The growing internet consumption rate is fueling the growth of this market. According to the National Centre for Statistics and Information (NCSI), Oman’s internet subscribers have surged to 473,487 subscribers in 2019, which is increased by 11.4% from its previous year 2018. Moreover, the number of active mobile broadband subscribers rose to 4.739 million subscribers compared to 4.113 million subscribers in 2018.

Moreover, the growing adoption of 4G and 5G technology is also driving the growth of this market. For instance, the Oman Telecommunication company planned to set up 2226 5G sites by 2024, which will increase the internet consumption rate for this country. However, spending on telecoms services and devices is decreasing due to the large-scale job losses for the ongoing COVID 19 pandemic. This decreasing trend of consumer spending can create a considerable barrier for this market. Major vendors in this market are also innovating its services to cater to this untapped market. For instance, in 2019, Talabat had been selected as the food delivery platform of Expo 2020. Here the company launched a tech-driven cloud kitchen that consists of an assortment of restaurants serving freshly prepared food.

Browse Complete Report details with Table of Content:

https://www.marketinsightsreports.com/reports/05202907335/oman-e-commerce-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?mode=28                       

This E-Commerce Market report addresses:

– The Market size from 2016-2021

– Expected market growth until 2026

– Forecast of how market drivers, restraints, and future opportunities will affect

– Segment and regions that will drive or lead the market growth and why

– Comprehensive mapping of the competitive landscape

– In-depth analysis of key sustainability strategies adopted by market place

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– 3 months of analyst support

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Customization of this Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

Please contact our sales professional ([email protected]), we will ensure you obtain the report which works for your needs.

Post Covid-19 Analysis:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

ABOUT US:

Market Insights Reports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. Market Insights Reports provides Oman and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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