Storage Units - Southern Asia | Statista Market Forecast

In 2024, the revenue in the Storage Units market in Southern Asia amounts to US$2.6bn.
It is projected to grow annually by 2.69% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in the market, with US$9.4bn in 2024.
On a per-person basis, the revenue generated in the Storage Units market in Southern Asia is US$1.35 in 2024.
By 2029, the volume in the Storage Units market is expected to reach 312.2m pieces.
However, there is a projected volume decline of -0.4% in 2025.0.
The average volume per person in the Storage Units market is expected to be 0.2pieces in 2024.
It is important to note that the Storage Units market is a significant part of the overall market in Southern Asia.
The demand for self-storage units in Southern Asia has been steadily increasing, driven by urbanization and the need for additional space in densely populated cities like Singapore and Hong Kong.

Definition:

Storage units are devices used to store and access digital data. They can be internal, such as hard disk drives (HDD) or solid-state drives (SSD) that are installed inside a computer, or external, such as USB flash drives, external HDDs, or network-attached storage (NAS) devices. Storage units have different capacities and read/write speeds and can be used for storing different types of data, including documents, photos, videos, music, and software applications. They are an essential component of a computer system, and can be used for backing up important data, expanding the storage capacity of a computer, or sharing data between devices. Storage units are widely used in homes, businesses, and data centers to store, protect, and manage digital data.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Sony, Panasonic, Samsung, LG, and Philips. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Optical discs (CD, DVD)
USB memory sticks
External hard drives
Central storage units
Internal hard disks

Flash memory cards or flash electronic storage cards

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.

As businesses generate unprecedented volumes of data, the future of enterprise storage is evolving rapidly, driven by the rise of cloud solutions. Cloud storage offers scalability and flexibility, making it essential for enterprises aiming to manage data efficiently and cost-effectively. Undoubtedly, the need to assess storage requirements has been heavily influenced by the demands posed by data centers and artificial intelligence (AI) applications. From handling big data analytics in AI to supporting 5G in telecoms, traditional data storage methods have been challenged, with cloud solutions redefining how organizations store and access critical information.