Storage - Southern Asia

Southern Asia

Revenue in the Storage market is projected to reach €1.12bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.76%, resulting in a market volume of €1.51bn by 2028.
The average Spend per Employee in the Storage market is projected to reach €1.57 in 2024.
In global comparison, most revenue will be generated in the United States (€18,600m in 2024).

Key regions: Brazil, Indonesia, Europe, United States, Italy

Marché

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Analyst Opinion

The Storage market in Southern Asia is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Southern Asia are increasingly demanding storage solutions that are reliable, scalable, and cost-effective. They are looking for storage systems that can handle large amounts of data and provide high-speed access. Additionally, there is a growing preference for cloud-based storage solutions, as they offer flexibility and accessibility from anywhere.

Trends in the market: One of the key trends in the storage market in Southern Asia is the adoption of flash storage technology. Flash storage provides faster access to data, improved performance, and reduced power consumption compared to traditional hard disk drives (HDDs). This trend is driven by the increasing need for faster data processing and the growth of data-intensive applications such as artificial intelligence, big data analytics, and virtual reality. Another trend in the market is the shift towards software-defined storage (SDS). SDS allows for the separation of storage management software from the underlying hardware, providing greater flexibility and scalability. This trend is driven by the need for more agile and cost-effective storage solutions, as well as the increasing adoption of virtualization technologies.

Local special circumstances: One of the unique characteristics of the storage market in Southern Asia is the rapid growth of the e-commerce industry. With the increasing number of online shoppers and the rise of digital payments, e-commerce companies require robust storage solutions to manage and process large volumes of data. This has created a significant demand for storage systems that can handle the unique requirements of the e-commerce sector, such as high availability, scalability, and data security.

Underlying macroeconomic factors: The growth of the storage market in Southern Asia is also influenced by several macroeconomic factors. The region is experiencing rapid economic growth, which is driving the adoption of digital technologies and increasing the demand for storage solutions. Additionally, the increasing penetration of smartphones and internet connectivity is leading to a surge in data generation, further fueling the demand for storage systems. Furthermore, the governments in Southern Asia are investing in digital infrastructure and promoting the adoption of cloud computing, which is driving the growth of the storage market. These initiatives aim to improve the efficiency of public services, enhance business productivity, and stimulate economic growth. In conclusion, the storage market in Southern Asia is witnessing significant growth and development driven by customer preferences for reliable and scalable storage solutions. The adoption of flash storage technology and software-defined storage is on the rise, and the e-commerce industry is creating a unique demand for storage systems. The region's rapid economic growth, increasing digitalization, and government initiatives are also contributing to the growth of the market.

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.