Storage - Brazil

Brazil

Revenue in the Storage market is projected to reach US$0.60bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.92%, resulting in a market volume of US$0.92bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$5.50 in 2024.
In global comparison, most revenue will be generated in the United States (US$23,930m in 2024).

Key regions: United Kingdom, Brazil, India, China, Indonesia

Market

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Currency

Analyst Opinion

The Storage market in Brazil is experiencing significant growth and evolution.

Customer preferences: Customers in Brazil are increasingly seeking storage solutions that offer a balance between affordability and quality. They are looking for innovative storage options that can cater to their diverse needs, whether it be for personal use or for businesses. Additionally, there is a growing demand for storage solutions that offer cloud integration and easy accessibility.

Trends in the market: One notable trend in the Brazilian Storage market is the rise of local storage providers offering customized solutions tailored to the specific needs of the Brazilian market. These providers are focusing on enhancing data security, improving scalability, and providing efficient data management options. Moreover, there is a noticeable shift towards sustainable storage solutions that prioritize energy efficiency and environmental responsibility.

Local special circumstances: Brazil's unique geographical and infrastructural challenges play a significant role in shaping the Storage market. The vast size of the country and regional disparities in internet connectivity have led to an increased demand for localized storage solutions that can ensure data accessibility across different regions. Additionally, the regulatory environment in Brazil influences the storage market, with data privacy laws and compliance requirements impacting the storage choices of businesses and individuals.

Underlying macroeconomic factors: The economic landscape in Brazil, characterized by fluctuations in currency value and inflation rates, has a direct impact on the Storage market. As businesses look to optimize costs and improve operational efficiency, there is a growing interest in cost-effective storage solutions that can deliver value for money. Furthermore, the increasing digitalization of the Brazilian economy is driving the demand for storage solutions that can support the growing volumes of data generated across various sectors.

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.