Storage - CIS | Statista Market Forecast

Revenue in the Storage market is projected to reach US$472.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.15%, resulting in a market volume of US$732.10m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$4.08 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

In CIS nan, the data center storage market is facing a decline in growth due to factors such as slow adoption of digital technologies and lack of awareness among consumers. This has resulted in a negligible growth rate. The convenience of online services is also impacting the market's growth.

Customer preferences: The growing demand for cloud-based storage solutions is driving the growth of the Storage Market within the Data Center Market. This is due to the increasing adoption of remote work and virtual learning, which has led to a surge in data generation and storage needs. Additionally, the rise of edge computing and the Internet of Things (IoT) has also contributed to the demand for efficient and scalable storage solutions. With the increasing reliance on digital platforms and data-driven decision-making, the demand for secure and reliable storage solutions is expected to continue to grow in the coming years.

Trends in the market: In the CIS and Storage Market within the Data Center Market, there is a growing trend towards hyperconverged infrastructure (HCI) solutions, which combine computing, storage, and networking into a single platform. This trend is driven by the need for increased efficiency and cost savings in data centers. Additionally, there is a rising demand for software-defined storage (SDS) solutions, as they offer more flexibility and scalability compared to traditional hardware-based storage systems. These trends indicate a shift towards more integrated and software-driven approaches to data storage, and are likely to have significant implications for industry stakeholders in terms of optimizing resources and meeting the evolving needs of data-driven businesses.

Local special circumstances: In China, the Storage Market within the Data Center Market is seeing rapid growth due to the country's strong manufacturing and e-commerce industries. The government's push for digitalization and the rise of cloud computing have also contributed to the market's success. Additionally, China's strict data privacy laws have created a demand for secure storage solutions. In contrast, in the United States, the market is driven by the need for large-scale data storage for industries such as finance and healthcare, as well as the growing popularity of cloud-based storage solutions.

Underlying macroeconomic factors: The growth of the CIS and Storage Market within the Data Center Market is also influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with favorable economic conditions and strong support for digital transformation are experiencing faster market growth compared to regions with economic challenges and limited investment in digital technologies. Additionally, the increasing adoption of cloud computing and big data analytics is driving the demand for storage solutions to manage large amounts of data and improve business efficiency.

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.