Storage - Australia | Statista Market Forecast

Revenue in the Storage market is projected to reach US$800.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.49%, resulting in a market volume of US$1.15bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$54.71 in 2024.
In global comparison, most revenue will be generated United States (US$24bn in 2024).

Definition:

The Storage market focuses on computing equipment specifically designed for information storage, including storage-intensive servers, external storage systems, and storage expansion systems. This market specifically focuses on solutions that target the high-capacity storage requirements of businesses and organizations, setting aside options like consumer-grade storage products such as portable storage devices and Network Attached Storage (NAS). These storage systems are vital for organizations that require dependable archiving, data backup, and recovery capabilities, serving as an indispensable component in advancing the digital capabilities of industries worldwide.

Additional Information:

The Storage market includes revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in the Storage market include companies such as Dell, HPE, NetApp, and IBM.

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Storage Intensive Servers, such as Dell EMC PowerVault Series, and HPE StoreEasy Storage
Enterprise Storage Devices, such as HPE 3PAR StoreServ Storage, and IBM FlashSystem
Cloud Storage Solutions, such as integration with Amazon AWS S3, and Microsoft Azure Blob Storage

Personal Computers, such as Apple iMac, and Dell Inspiron Series
Consumer-Grade Storage, such as Seagate Hard Disk, and Samsung NVMe SSD

The Data Center Storage Market in Australia is facing a negligible decline in growth rate due to factors such as competition, slowing economy, and saturation in the market. Despite this, the market is still expected to experience some growth due to the increasing need for data storage and the shift towards cloud-based solutions.

Customer preferences: The demand for cloud-based storage solutions has been steadily increasing in Australia, driven by the growing adoption of remote work and online learning. As a result, data centers are prioritizing the expansion of their storage capabilities to meet the needs of businesses and individuals alike. This trend is also influenced by the rise of digital media and the need for reliable data storage solutions for large files. Additionally, with the increasing focus on data privacy and security, there is a growing preference for locally-based data centers that can ensure compliance with Australian regulations.

Trends in the market: In Australia, the Storage Market within the Data Center Market is seeing a rise in demand for cloud-based storage solutions. This trend is driven by the increasing adoption of cloud computing and the need for scalable and cost-effective storage options. Additionally, there is a growing trend of using software-defined storage (SDS) solutions, which offer greater flexibility and efficiency. These trends are significant as they enable businesses to store and manage their data more efficiently, leading to cost savings and improved performance. However, this also poses challenges for industry stakeholders, as they need to keep up with the constantly evolving technology and ensure data security in the cloud environment.

Local special circumstances: In Australia, the Storage Market within the Data Center Market is heavily influenced by government regulations and environmental factors. The country's strict data privacy laws and focus on sustainability have led to the adoption of innovative storage solutions, such as renewable energy-powered data centers. Additionally, Australia's vast and sparsely populated geography has resulted in the development of remote data storage facilities to support businesses in rural areas.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market in Australia is also influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in digital infrastructure. Australia's strong economic health and stable fiscal policies have created a favorable environment for data center investments. Additionally, the increasing adoption of cloud computing and rising demand for data storage are driving the growth of the storage market in Australia. Furthermore, the country's growing population and increasing digitalization across industries are expected to fuel the demand for data center storage solutions.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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.