Market Insights Consumer Consumer Electronics Computing

Storage Units - Kenya

Kenya

In Kenya, the revenue generated in the Storage Units market in 2024 amounts to Ksh US$83.5m.
It is projected that the market will experience an annual growth rate of 3.36% from 2024 to 2029 (CAGR 2024-2029).
In comparison to other countries, in China generates the highest revenue in the Storage Units market, amounting to Ksh US$9,423.0m in 2024.
When considering the total population figures, the per person revenue generated in the Storage Units market in Kenya is Ksh US$1.42 in 2024.
Looking ahead, it is estimated that the volume of the Storage Units market will reach 10.3m pieces units by 2029.
However, there is expected to be a slight decline in volume growth with a rate of 0.5% in 2025.
On average, each person in Kenya is expected to have a volume of 0.2pieces units in the Storage Units market in 2024.
These figures provide valuable insights into the performance and potential of the Storage Units market in Kenya.
The demand for storage units in Kenya is rapidly increasing due to the expanding middle class and urbanization.

Key regions: Brazil, United States, Canada, Germany, China

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. 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 is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.