Storage - Iran

Iran

Revenue in the Storage market is projected to reach US$349.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.72%, resulting in a market volume of US$530.30m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$11.66 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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Analyst Opinion

The Storage market in Iran is experiencing a significant shift driven by various factors influencing consumer behavior and market dynamics.

Customer preferences: Customers in Iran are increasingly leaning towards cloud storage solutions due to the convenience, accessibility, and cost-effectiveness they offer. The demand for secure and reliable data storage options is on the rise, prompting a shift towards cloud-based services among businesses and individuals.

Trends in the market: One prominent trend in the Iranian Storage market is the growing adoption of Solid State Drives (SSDs) over traditional Hard Disk Drives (HDDs). The faster data transfer speeds, durability, and compact size of SSDs are appealing to consumers looking for efficient storage solutions. Additionally, there is a noticeable trend towards network-attached storage (NAS) systems, driven by the need for centralized data management and sharing in both residential and commercial settings.

Local special circumstances: Iran's geopolitical situation and economic sanctions have influenced the Storage market in unique ways. Domestic storage manufacturers are gaining traction due to restrictions on importing foreign products, leading to a boost in the local storage industry. Moreover, data privacy and security concerns have prompted a demand for locally hosted storage solutions, creating opportunities for Iranian companies to cater to this niche market segment.

Underlying macroeconomic factors: The economic landscape in Iran, characterized by fluctuating currency values and trade restrictions, has a direct impact on the Storage market. Currency devaluation can affect the affordability of imported storage products, prompting consumers to opt for domestic alternatives or alternative storage solutions like cloud services. Additionally, government regulations and policies regarding data storage and privacy also shape the market environment and influence consumer choices in the Storage sector.

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.