Storage - Burundi | Statista Market Forecast

Revenue in the Storage market is projected to reach US$1.18m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.68%, resulting in a market volume of US$1.79m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$0.19 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 Burundi is facing a negligible decline in growth rate due to factors such as low investment in technology and limited access to internet services. However, increasing demand for efficient data management and storage solutions may drive growth in the future.

Customer preferences: With the rise of cloud computing and big data, the Storage Market within the Data Center Market in Burundi has seen a major shift towards virtual storage solutions. This trend is driven by the increasing need for scalable and cost-effective storage solutions, as well as the growing demand for remote access and collaboration. Additionally, as more businesses adopt digital transformation strategies, there is a growing preference for storage solutions that offer high levels of security and data protection.

Trends in the market: In Burundi, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based solutions, with more companies adopting hybrid cloud strategies to optimize their storage capabilities. This trend is driven by the need for efficient data management and cost savings. Additionally, there is a growing focus on data security, leading to the adoption of advanced encryption techniques and backup solutions. These trends are significant as they enhance data accessibility and protection while reducing costs. Industry stakeholders must stay updated on these developments to remain competitive and meet the evolving needs of their clients.

Local special circumstances: In Burundi, the Storage Market within the Data Center Market is influenced by the country's limited internet infrastructure and low adoption of digital technologies. The market is driven by the need for secure data storage solutions for businesses and organizations, as well as the government's efforts to improve digital infrastructure. However, challenges such as unstable power supply and high costs of connectivity hinder the growth of the market. Additionally, strict regulatory policies also impact the market, as data privacy and security laws are still in the early stages of development.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Burundi is influenced by several macroeconomic factors such as technological advancements, government policies, and investment in IT infrastructure. Countries with favorable regulatory environments and strong investment in data center technologies are experiencing faster market growth compared to regions with regulatory challenges and limited IT funding. Additionally, the increasing demand for data storage solutions, driven by the growth of digital data and the need for efficient data management, is also contributing to the growth of the Storage Market in Burundi.

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.