Storage - Greece

Greece

Revenue in the Storage market is projected to reach US$61.53m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.59%, resulting in a market volume of US$92.89m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$12.74 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

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Currency

Analyst Opinion

The Storage market in Greece has been witnessing notable growth and evolution in recent years.

Customer preferences: Customers in Greece are increasingly gravitating towards cloud storage solutions due to their convenience, scalability, and cost-effectiveness. The shift towards digitalization and remote working arrangements has further fueled the demand for cloud storage services. Additionally, there is a growing preference for storage solutions that offer enhanced security features to protect sensitive data.

Trends in the market: One prominent trend in the Greek Storage market is the rising adoption of hybrid storage solutions, which combine on-premises infrastructure with cloud-based storage. This hybrid approach allows businesses to leverage the benefits of both platforms while ensuring flexibility and data accessibility. Moreover, there has been a noticeable uptick in the demand for storage solutions tailored to specific industries, such as healthcare and finance, to address sector-specific regulatory requirements.

Local special circumstances: Greece's geographical location and topographical features present unique challenges for storage infrastructure development. The country's diverse landscape, including islands and mountainous regions, necessitates innovative storage solutions to ensure seamless data connectivity nationwide. Furthermore, the economic landscape in Greece, characterized by periods of instability, influences investment decisions in the storage market and drives the need for cost-efficient storage solutions.

Underlying macroeconomic factors: The evolving regulatory environment and government initiatives play a crucial role in shaping the Storage market in Greece. Policies aimed at promoting data privacy and security impact the types of storage solutions preferred by businesses operating in the country. Additionally, macroeconomic factors such as GDP growth, foreign direct investment, and technological advancements contribute to the overall trajectory of the storage market in Greece.

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.