Storage - Bahrain | Statista Market Forecast

Revenue in the Storage market is projected to reach US$8.56m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.46%, resulting in a market volume of US$12.85m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$9.66 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 within the Data Center Market in Bahrain is facing a negligible decline in growth rate due to factors such as saturation in the market and increasing competition. However, the convenience and efficiency offered by digital storage solutions continue to drive demand.

Customer preferences: The growing demand for cloud-based storage solutions in the data center market in Bahrain is driven by the increasing adoption of digital services and the need for secure and efficient data management. Additionally, the rise in remote work and e-learning due to the pandemic has further accelerated the need for reliable and scalable storage solutions. As a result, there is a growing trend towards investing in hybrid and multi-cloud storage solutions to meet the diverse needs of businesses and consumers.

Trends in the market: In Bahrain, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based storage solutions, driven by the increasing demand for data storage and management. This trend is expected to continue in the coming years, as businesses and organizations look for more efficient and cost-effective ways to store and access their data. This shift towards cloud-based storage also presents opportunities for industry stakeholders, such as data center providers and storage solution providers, to offer innovative services and meet the evolving needs of their clients. Additionally, the growth of the e-commerce sector in Bahrain is also driving the demand for data storage, as online businesses require secure and reliable storage solutions to manage their growing amount of data. This trend is expected to have a significant impact on the data center market, as more businesses in Bahrain embrace digital transformation and rely on data storage solutions to support their operations.

Local special circumstances: In Bahrain, the Storage Market within the Data Center Market is influenced by the country's strategic location in the Gulf region, making it a hub for international businesses. The market is also shaped by the Bahrain government's efforts to promote the country as a digital hub, resulting in increased investments in data centers. Additionally, the country's strong regulatory framework and supportive business environment contribute to the growth of the storage market within the data center market in Bahrain.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Bahrain is greatly impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The growth of this market is dependent on the country's ability to attract investments and develop its infrastructure. Additionally, the increasing adoption of cloud-based solutions and the rise in data-driven businesses also contribute to the demand for storage services in the data center market. As Bahrain continues to strengthen its position as a regional hub for data centers, the market is expected to witness significant growth in the coming years.

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.