Storage - Kyrgyzstan | Statista Market Forecast

Revenue in the Storage market is projected to reach US$3.02m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.77%, resulting in a market volume of US$4.61m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$1.11 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 storage market in the data center market in Kyrgyzstan is facing a negligible decline in growth rate due to factors such as low investment in IT infrastructure and limited availability of skilled professionals. However, the market is expected to see a steady growth in the coming years with the increasing demand for data storage and management solutions.

Customer preferences: As more businesses in Kyrgyzstan adopt cloud-based solutions and remote work arrangements, there is a growing demand for reliable and secure data storage within the Data Center Market. With a strong emphasis on data privacy and security, consumers are increasingly opting for locally owned and operated data centers, rather than international providers. This trend is also driven by cultural preferences for personalized and localized services.

Trends in the market: In Kyrgyzstan, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions. This trend is being driven by the increasing adoption of cloud-based applications and the need for scalable and cost-effective storage options. This shift towards cloud storage has major implications for industry stakeholders, as it allows for greater flexibility, accessibility, and cost savings. Furthermore, the trajectory of this trend suggests that it will continue to grow in the coming years, making it essential for data center providers to invest in and offer robust cloud storage solutions to remain competitive in the market.

Local special circumstances: In Kyrgyzstan, the Storage Market within the Data Center Market is influenced by the country's geographical location, with its mountainous terrain making it prone to natural disasters. This has led to a focus on disaster recovery and backup solutions in the market. Additionally, the country's growing tech-savvy population and government initiatives to promote digital transformation have created a demand for advanced storage technologies. The market is also shaped by regulatory policies, such as data sovereignty laws, which require data to be stored locally.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Kyrgyzstan is impacted by macroeconomic factors such as technology advancements, government policies, and investment in IT infrastructure. Favorable regulatory environment and strong IT investments in the country are likely to drive market growth, while regions with regulatory challenges and limited funding may experience slower growth. Moreover, the rising prevalence of chronic diseases and aging population globally are increasing the demand for data storage solutions to improve healthcare access and outcomes.

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.