Storage - Eastern Asia

Eastern Asia

Revenue in the Storage market is projected to reach US$11.26bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 6.73%, resulting in a market volume of US$14.61bn by 2028.
The average Spend per Employee in the Storage market is projected to reach US$12.49 in 2024.
In global comparison, most revenue will be generated in the United States (US$20,060m in 2024).

Key regions: Brazil, Indonesia, Europe, United States, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

The Storage market in Eastern Asia has been experiencing significant growth in recent years. Customer preferences in the region have played a key role in driving this growth. With the increasing digitalization of businesses and the rising demand for data storage, customers in Eastern Asia have shown a strong preference for storage solutions that are reliable, scalable, and cost-effective. They are looking for storage systems that can handle large amounts of data, provide high performance, and offer seamless integration with other IT infrastructure. Additionally, customers in the region value storage solutions that are energy-efficient and environmentally friendly. Several trends have emerged in the market to cater to these customer preferences. One such trend is the adoption of cloud storage solutions. Cloud storage offers businesses the flexibility to scale their storage needs according to their requirements, while also providing secure and reliable data storage. This trend has been particularly prominent in countries like China, Japan, and South Korea, where businesses are increasingly embracing cloud technology. Another trend in the market is the growing demand for solid-state drives (SSDs). SSDs offer faster data access and improved performance compared to traditional hard disk drives (HDDs). As businesses in Eastern Asia seek to enhance their data processing capabilities, they are turning to SSDs to meet their storage needs. This trend has been driven by advancements in technology, which have made SSDs more affordable and accessible to a wider range of customers. Local special circumstances in Eastern Asia have also contributed to the growth of the Storage market. For example, the region is home to some of the largest technology companies in the world, such as Samsung and Huawei. These companies have been at the forefront of innovation in the storage industry, driving the development of new storage technologies and solutions. Additionally, Eastern Asia has a large and growing population of internet users, which has created a strong demand for data storage solutions. Underlying macroeconomic factors have also played a role in the growth of the Storage market in Eastern Asia. The region has experienced rapid economic growth in recent years, which has led to increased investment in technology infrastructure. This has created opportunities for storage vendors to expand their operations and tap into the growing demand for storage solutions. In conclusion, the Storage market in Eastern Asia is experiencing significant growth due to customer preferences for reliable, scalable, and cost-effective storage solutions. The adoption of cloud storage and the demand for SSDs are key trends in the market. Local special circumstances, such as the presence of large technology companies and a growing population of internet users, have also contributed to the market's growth. Furthermore, underlying macroeconomic factors, including rapid economic growth and increased investment in technology infrastructure, have created favorable conditions for the storage market in Eastern Asia.

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.