Storage - Eastern Europe

Eastern Europe

Revenue in the Storage market is projected to reach US$0.46bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.76%, resulting in a market volume of US$0.70bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$3.92 in 2024.
In global comparison, most revenue will be generated in the United States (US$23,930m in 2024).

Key regions: United Kingdom, Brazil, India, China, Indonesia

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Analyst Opinion

The storage market in Eastern Europe is facing a negligible decline, primarily due to factors such as changing consumer preferences and slow adoption of digital technologies. These factors have led to a stagnant growth rate in the data center market, impacting the overall growth of the digital health market as well.

Customer preferences: The increasing demand for cloud-based solutions and the rise of big data analytics is driving the growth of the Storage Market within the Data Center Market in Eastern Europe. This is fueled by the growing need for efficient data management and storage solutions, as well as the rise of e-commerce and digital services in the region. Additionally, the shift towards remote work and virtual collaboration has also led to an increased demand for remote access and storage solutions.

Trends in the market: In Eastern Europe, the Data Center Market is experiencing a surge in demand for cloud storage solutions, with companies increasingly shifting towards virtualization and remote access. This trend is driven by the need for cost-effective and scalable data storage options, as well as the growing adoption of IoT and big data analytics. As a result, there is a rise in the use of software-defined storage and hyperconverged infrastructure. This trend is significant as it allows for better resource utilization and improved data management. However, it also poses challenges for industry stakeholders, such as the need for specialized skills and the risk of data security breaches. Overall, the trajectory of these trends points towards a continued growth in the Storage Market within the Data Center Market, with a greater focus on efficient and secure storage solutions.

Local special circumstances: In Eastern Europe, the Storage Market within the Data Center Market is driven by the region's growing demand for data storage and increasing adoption of cloud computing. The market is also heavily influenced by regulatory policies, such as the General Data Protection Regulation (GDPR) in the European Union, which has led to stricter data storage and privacy requirements. Additionally, cultural factors, such as a preference for local data centers and concerns over data sovereignty, play a significant role in shaping the market dynamics in this region.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with strong economic growth and favorable regulatory environments for data centers are experiencing higher market demand compared to regions with limited government support and regulatory challenges. Moreover, the increasing adoption of cloud computing and the growing volume of data generated by businesses are driving the demand for storage solutions in data centers.

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.