Storage - Australia & Oceania | Statista Market Forecast

Revenue in the Storage market is projected to reach US$978.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.54%, resulting in a market volume of US$1.41bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$46.01 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 Storage Market in the Data Center Market in Australia & Oceania is facing a negligible decline, impacted by factors such as slow adoption of digital technologies and limited health awareness among consumers. This has led to a stagnant growth rate in the market.

Customer preferences: As the demand for data storage continues to grow in Australia & Oceania, consumers are increasingly looking for efficient and scalable solutions. This has led to a rise in the adoption of cloud-based storage services, as they offer greater flexibility and cost-effectiveness. Additionally, with the increasing trend towards remote work and online learning, there has been a surge in demand for data center solutions that can support remote access and collaboration. This shift towards remote work and learning is also influenced by the cultural value of work-life balance and the need for flexibility in managing work and personal commitments.

Trends in the market: In Australia & Oceania, the Storage Market within the Data Center Market is seeing a shift towards cloud-based storage solutions, with businesses increasingly adopting hybrid cloud strategies. This trend is driven by the need for scalable, cost-effective storage solutions and the growing demand for data analytics and AI capabilities. This trajectory is significant as it allows for greater flexibility and scalability, but also raises concerns around data security and privacy. Industry stakeholders must navigate these implications while keeping up with the evolving storage landscape.

Local special circumstances: In Australia & Oceania, the Storage Market within the Data Center Market is heavily influenced by the region's remote location and limited access to land. This has led to a focus on compact and energy-efficient storage solutions, as well as an increase in cloud-based storage options. Additionally, strict data privacy regulations in countries like Australia and New Zealand have shaped the storage market, with a strong emphasis on data security and compliance. The region's growing demand for data centers, driven by the rise of digitalization and cloud adoption, has also played a significant role in the growth of the storage market.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Australia & Oceania is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. As the region continues to experience rapid economic growth, there is a growing demand for data storage solutions to support businesses and organizations. Additionally, the increasing adoption of cloud-based services and the rise of big data analytics are driving the need for efficient storage solutions in the region. Moreover, with the growing number of data centers being built in the region, the demand for storage solutions is expected to continue to grow.

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.