Storage - Croatia | Statista Market Forecast

Revenue in the Storage market is projected to reach US$26.45m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.30%, resulting in a market volume of US$37.61m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$15.29 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 Croatia is facing a negligible decline in growth, largely due to factors such as limited investment in data center infrastructure and slow adoption of digital technologies among businesses. This has resulted in a stagnant market with little room for growth.

Customer preferences: As the demand for data storage and processing continues to rise, consumers in Croatia are increasingly opting for cloud-based solutions over traditional on-premise storage. This trend is driven by the convenience and scalability offered by cloud storage, as well as the need for secure and reliable data management. Additionally, with the rise of remote work and online education, the demand for cloud-based storage solutions is expected to continue to grow in the coming years.

Trends in the market: In Croatia, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based storage solutions, as businesses prioritize scalability and cost-effectiveness. This trend is expected to continue, with a projected growth of 14% by 2025. Additionally, there is a growing demand for data center colocation services, as companies look to outsource their storage needs. This trend is significant for industry stakeholders as it presents opportunities for partnerships and investments in data center infrastructure. However, it also poses challenges for traditional storage vendors as they face competition from cloud providers. Overall, the current trends highlight the growing importance of storage in the data center market and the need for agile and flexible solutions.

Local special circumstances: In Croatia, the Storage Market within the Data Center Market is heavily influenced by the country's geographical location as a bridge between Central and Southeast Europe. This makes it a key strategic location for data centers serving multiple markets. Additionally, Croatia's cultural emphasis on privacy and security has led to a demand for secure and reliable storage solutions, driving the growth of the market. Furthermore, the country's adoption of EU regulations has also shaped the market, with data protection laws and compliance requirements influencing the types of storage solutions offered.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Croatia is influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with supportive regulatory environments and strong investment in data center technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Furthermore, the growing demand for cloud-based services and the increasing volume of data generated by various industries are driving the need for efficient storage solutions, further boosting the growth of the market.

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.