Servers - Lithuania

Lithuania

Revenue in the Servers market is projected to reach US$37.51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.72%, resulting in a market volume of US$56.98m by 2029.
The average Spend per Employee in the Servers market is projected to reach US$24.37 in 2024.
In global comparison, most revenue will be generated in the United States (US$47,260m in 2024).

Key regions: Japan, India, China, United Kingdom, Europe

Market

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Currency

Analyst Opinion

In Lithuania, the Servers market is experiencing notable growth and transformation driven by various factors.

Customer preferences: Customers in Lithuania are increasingly prioritizing servers with advanced data security features to protect sensitive information. They are also showing a preference for servers that offer high performance and scalability to meet the growing demands of their businesses. Additionally, there is a rising interest in energy-efficient servers as businesses focus on sustainability and cost savings.

Trends in the market: One of the key trends in the Servers market in Lithuania is the growing adoption of cloud-based servers. Businesses are recognizing the benefits of cloud technology in terms of flexibility, scalability, and cost-efficiency. This trend is reshaping the traditional server market landscape as more companies are opting for cloud solutions over on-premises servers. Another trend is the increasing demand for edge computing servers to support IoT devices and applications. Edge servers help reduce latency and improve overall system performance, making them essential for modern businesses.

Local special circumstances: Lithuania's strategic location as a gateway between Eastern and Western markets has positioned it as a favorable destination for data centers and server hosting services. The country's reliable internet infrastructure and favorable business environment have attracted international companies looking to establish a presence in the region. This has contributed to the growth of the Servers market in Lithuania, with an increasing number of data centers and server providers setting up operations in the country.

Underlying macroeconomic factors: The overall economic stability and digitalization drive in Lithuania are playing a significant role in the development of the Servers market. As businesses across various sectors continue to invest in technology infrastructure to stay competitive, the demand for servers is expected to remain strong. Additionally, government initiatives to promote digital innovation and technology adoption are creating a conducive environment for the growth of the IT sector, including the Servers 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.