Storage - Estonia | Statista Market Forecast

Revenue in the Storage market is projected to reach US$9.46m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.12%, resulting in a market volume of US$14.64m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$12.54 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 Data Center Market in Estonia has seen a steady growth, driven by the increasing demand for storage solutions, growing awareness of data management, and the convenience of online services. However, the market growth rate has been impacted by the current negligible decline, possibly due to economic uncertainties and the shift towards cloud-based storage solutions.

Customer preferences: The demand for cloud-based storage solutions has been steadily increasing in Estonia, driven by the growing adoption of digital services and the need for remote data management. This trend is being further accelerated by the increasing number of businesses and individuals using online platforms for data storage and sharing. Additionally, the rise of smart homes and the growing use of Internet of Things (IoT) devices are also contributing to the demand for secure and reliable data storage solutions.

Trends in the market: In Estonia, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions. This trend is driven by the increasing adoption of cloud-based services and the need for scalable and cost-effective storage options. As a result, data center providers are investing in advanced storage technologies, such as solid-state drives and software-defined storage, to meet the growing demand. This trend is expected to continue in the coming years, with implications for industry stakeholders including increased competition and the need for constant innovation. Additionally, the trend towards hybrid cloud storage solutions is gaining momentum, as businesses seek to balance the benefits of both public and private cloud environments. This shift towards hybrid storage is expected to drive further growth in the Storage Market within the Data Center Market in Estonia.

Local special circumstances: In Estonia, the Storage Market within the Data Center Market is influenced by the country's strategic location as a hub for data and internet connectivity between Europe and Russia. Additionally, the Estonian government has implemented regulations to promote data privacy and security, making it a desirable location for businesses to store their data. The country's strong tech-savvy culture and highly skilled workforce also contribute to the growth of the data center market. These factors create a unique environment for the storage market, enticing international businesses to establish a presence in Estonia.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Estonia is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with strong government initiatives and investments in digital technologies are experiencing faster market growth compared to those with limited resources. Additionally, the increasing demand for data storage due to the growing digital economy and the rise of cloud computing is driving the growth of the storage market in Estonia. Furthermore, the country's stable economic health and favorable business environment make it an attractive market for data center and storage providers.

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.