Storage - Europe

Europe

Revenue in the Storage market is projected to reach €11.24bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.88%, resulting in a market volume of €17.20bn by 2029.
The average Spend per Employee in the Storage market is projected to reach €26.89 in 2024.
In global comparison, most revenue will be generated in the United States (€22,190m in 2024).

Key regions: United Kingdom, Brazil, India, China, Indonesia

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Storage Market in Europe's Data Center Market is facing a slight decline in growth due to factors such as slow adoption of digital technologies and increasing competition from traditional storage solutions. However, rising demand for cloud storage and data management services is expected to drive growth in the coming years.

Customer preferences: As data storage needs continue to grow, consumers are prioritizing energy-efficient and sustainable solutions in the Storage Market within the Data Center Market. This trend is driven by increasing environmental awareness and government regulations. Additionally, the demand for cloud-based storage solutions is rising, as businesses and individuals seek flexibility and scalability in their data management. This shift towards cloud-based storage is also influenced by the growing popularity of remote work and the need for remote access to data.

Trends in the market: In Europe, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based storage solutions, with more companies opting for scalable and cost-effective storage options. Additionally, there is a growing trend towards hyperconverged infrastructure, which combines storage, computing, and networking in a single system. These trends are driven by the increasing demand for data storage and the need for efficient and flexible solutions. As a result, industry stakeholders need to adapt to these changes and invest in innovative storage technologies to stay competitive in the market.

Local special circumstances: In Europe, the Storage Market within the Data Center Market is influenced by the region's strict data protection regulations and the increasing demand for cloud-based storage solutions. The market is also shaped by the cultural preference for privacy and security of personal data, driving the adoption of secure and reliable storage options. Additionally, the high concentration of multinational companies in Europe has led to a strong demand for scalable and interconnected data storage solutions.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with strong economic stability and supportive regulatory environments are experiencing faster market growth compared to regions with economic challenges and limited investment in digital infrastructure. Additionally, the increasing adoption of cloud computing and data storage solutions in various industries is driving the demand for advanced storage technologies in data centers.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on hardware-related expenses of businesses for setting up and maintaining an IT infrastructure.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports and national statistical offices. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of digitization. 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, such as exponential trend smoothing and the S-curve function, is based on the behavior of the relevant market.

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 and the Russia-Ukraine war is considered at a country-specific level.