Sultanate of Oman’s total telecoms market revenue is expected to increase thanks to the growth of the fixed broadband segment and the slow recovery of the mobile market, according to “The Middle East and North Africa telecoms market: trends and forecasts 2019-2024” report by ResearchAndMarkets.com.

The report examines the key trends and drivers, and provides telecoms market forecasts for mobile communication services the Middle East and North Africa (MENA). It includes worldwide context and commentary on six key countries that include Oman, Iran, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates (UAE).

READ: Oman’s Telecom Overview: 2018-19

The report further adds in Oman, operators will increasingly focus on monetising their NGA investments and driving service take-up as network penetration increases and a new mobile entrant will increase competition in the mobile market, and the fixed broadband segment will benefit from NGA network roll-outs.

Overall, the report predicts that the telecoms market revenue in the middle east and North Africa (MENA) will increase at a cagr of 1.4 per cent between 2018 and 2024, driven by the growing adoption of fixed broadband and mobile data services across the region. This means that the revenue will reach US$72bn by 2024.

According to the report, though the average spend per capita has declined mainly due to increased competition in the GCC region, the monetising high-speed internet and mobile data access will be crucial to achieve telecoms retail revenue growth in MENA.

The fast adoption of fixed broadband and mobile data services will help telecoms operators to maintain service revenue growth. Mobile services will account for most of the telecoms revenue in the region, driven by the growing demand for data and mobile handset revenue remains the key driver of mobile revenue growth in the region, supported by improving 4G coverage and the introduction of 5G services.