Storage - Egypt

Egypt

Revenue in the Storage market is projected to reach US$50.32m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 14.55%, resulting in a market volume of US$99.26m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$1.52 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

Egypt's Storage market is experiencing significant growth and development, driven by various factors shaping consumer preferences, market trends, and local circumstances.

Customer preferences: Egyptian consumers are increasingly seeking storage solutions that offer convenience, efficiency, and durability. With the rise of urbanization and smaller living spaces in cities like Cairo and Alexandria, there is a growing demand for compact yet spacious storage options. Customers are also placing emphasis on aesthetics, looking for storage solutions that not only serve a practical purpose but also enhance the overall decor of their homes.

Trends in the market: One notable trend in the Egyptian Storage market is the increasing popularity of multifunctional storage furniture. As consumers look to maximize space in their homes, furniture pieces that serve dual purposes, such as storage ottomans or beds with built-in drawers, are becoming more sought after. Additionally, eco-friendly storage options made from sustainable materials are gaining traction among environmentally conscious consumers in Egypt.

Local special circumstances: Egypt's unique cultural and economic landscape plays a significant role in shaping the Storage market. The country's rich history and heritage have influenced design preferences, with many consumers opting for storage solutions that reflect traditional Egyptian craftsmanship and motifs. Moreover, the growing middle-class population in Egypt is driving demand for high-quality storage products that offer both functionality and style.

Underlying macroeconomic factors: The economic stability and steady GDP growth in Egypt are contributing to the expansion of the Storage market. As disposable incomes rise and consumer spending power increases, more Egyptians are investing in home organization and storage solutions. Furthermore, government initiatives to support the manufacturing sector are boosting the production of storage products domestically, leading to a wider range of options for consumers in the market.

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.