Storage - China | Statista Market Forecast

Revenue in the Storage market is projected to reach US$10.80bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.16%, resulting in a market volume of US$19.17bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$13.73 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 China is experiencing minimal growth, influenced by factors such as saturation in the market, decreasing demand due to economic slowdown, and the availability of alternative storage solutions. Despite this, the market is expected to continue growing steadily due to the increasing adoption of cloud storage and the growing demand for data storage in various industries.

Customer preferences: As China continues to lead the global data center market, there is a growing demand for storage solutions that can handle large amounts of data. With the rise of e-commerce and digitalization, businesses and consumers alike are looking for reliable and scalable storage options. This trend is also driven by the increasing use of cloud-based services and the need for remote access to data. Additionally, there is a growing preference for data centers that prioritize energy efficiency and sustainability, reflecting the country's focus on environmental conservation.

Trends in the market: In China, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, driven by the increasing adoption of cloud-based services by businesses. This trend is expected to continue as the country's economy becomes more digitalized and data-intensive. Additionally, there is a growing focus on data security and compliance, leading to a rise in demand for secure and scalable storage solutions. This presents significant opportunities for industry stakeholders, but also poses challenges in terms of infrastructure and cost management.

Local special circumstances: In China, the Storage Market within the Data Center Market is heavily influenced by the country's large population and rapid economic growth. The demand for data storage solutions is driven by the increasing adoption of cloud computing and big data analytics. Additionally, China's strict data privacy laws and regulations have led to the development of secure storage solutions that cater to the unique needs of Chinese businesses. Furthermore, the country's strong manufacturing sector has resulted in the availability of low-cost, high-quality storage hardware, making it an attractive market for data center providers.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market in China is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investments in the country's digital infrastructure. China's strong economic growth, large population, and rapid urbanization have resulted in a high demand for digital services and data storage. Additionally, the government's initiatives to promote cloud computing and data center construction have further boosted the demand for storage solutions in the country. However, regulatory challenges and concerns over data security could potentially hinder the market growth in China.

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.