Storage - Europe

Europe

Revenue in the Storage market is projected to reach US$12.12bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.66%, resulting in a market volume of US$18.36bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$29.00 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

Market

Region

Region comparison

Currency

Analyst Opinion

The Storage market in Europe has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Europe are increasingly demanding storage solutions that offer not only ample space but also advanced security features to protect their data. The trend towards cloud storage services is also on the rise, as customers seek more flexible and scalable options for their storage needs.

Trends in the market: In Germany, there is a growing demand for storage solutions that prioritize energy efficiency and sustainability, reflecting the country's strong environmental consciousness. On the other hand, in the United Kingdom, the trend is towards storage options that prioritize ease of access and seamless integration with other digital tools.

Local special circumstances: In France, the government's data protection regulations have had a significant impact on the storage market, leading to an increased focus on data security and compliance among both customers and storage providers. This has created a unique market environment where providers must constantly innovate to meet stringent regulatory requirements.

Underlying macroeconomic factors: The overall economic stability and digital infrastructure development in Europe have played a crucial role in the growth of the storage market. As more businesses and individuals rely on digital data for various purposes, the need for reliable and secure storage solutions continues to drive market expansion across the region.

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.