Key regions: United Kingdom, Brazil, India, China, Indonesia
The data center storage market in ASEAN has seen a slight decline in growth due to factors such as oversupply of storage capacity, increasing competition, and economic uncertainties. Despite this, the market is still driven by the growing demand for data storage and management solutions in the region.
Customer preferences: As data volumes continue to grow exponentially, there is a shift towards software-defined storage solutions, making it easier for companies to scale their data center storage infrastructure. This is driven by a growing preference for flexible and customizable storage options that can adapt to changing business needs. Additionally, increasing concerns around data security and privacy are leading to a rise in demand for encryption and other data protection solutions, ensuring the safety of sensitive information.
Trends in the market: In ASEAN, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud-based storage solutions. This trend is driven by the increasing adoption of digital technologies and the need for efficient data management. With the rise of e-commerce and IoT, businesses are relying heavily on data storage and management solutions. This trend is expected to continue, with a projected growth of 15% in the storage market by 2025. This presents opportunities for industry stakeholders, such as data center providers and cloud storage vendors, to tap into this growing market and offer innovative solutions to meet the evolving needs of businesses in the region. Additionally, this trend also highlights the importance of robust data center infrastructure and data security measures to ensure the smooth functioning of businesses in the digital age.
Local special circumstances: In Indonesia, the data center market is experiencing rapid growth due to the country's growing economy and increasing internet penetration. This has led to a surge in demand for data storage solutions, driven by the country's large population and expanding consumer market. Additionally, the government's initiatives to improve digital infrastructure and support the growth of e-commerce have also contributed to the development of the data center and storage market in Indonesia. As a result, data center providers are focusing on expanding their storage capacities in the country to meet the growing demand.
Underlying macroeconomic factors: The expansion of the Storage Market within the Data Center Market in ASEAN is significantly driven by macroeconomic factors such as increasing technological advancements and government initiatives to promote digital transformation. Countries with favorable regulatory environments and increased investments in digital infrastructure are experiencing higher market growth compared to regions with regulatory challenges and limited funding. Moreover, the rising adoption of cloud-based solutions and the proliferation of big data and IoT technologies are also contributing to the growth of the data center market in ASEAN.
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.
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