Storage - Laos | Statista Market Forecast

Revenue in the Storage market is projected to reach US$5.74m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.86%, resulting in a market volume of US$7.63m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$1.81 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.

For more information on the data displayed, use the info button right next to the boxes.

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 Laos nan is facing a negligible decline in growth rate due to factors such as limited access to digital technologies and low health awareness among consumers. Online storage services are not yet widely adopted, impacting the market's growth.

Customer preferences: As the demand for cloud-based services continues to rise in Laos, the Storage Market within the Data Center Market is experiencing a shift towards more advanced and cost-effective storage solutions. This trend is driven by the increasing reliance on digital platforms for business operations and the growing volume of data being generated. Additionally, consumers are becoming more conscious of data security and are opting for storage options that offer robust protection against cyber threats. This surge in demand for secure and efficient storage solutions is also influenced by the country's growing tech-savvy population and its increasing adoption of digital technologies.

Trends in the market: In Laos, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, as businesses and organizations increasingly rely on digital data management. This trend is expected to continue in the coming years, as more companies adopt cloud-based storage for its flexibility and cost-effectiveness. This shift towards cloud storage also presents opportunities for data center providers to expand their offerings and cater to the growing demand. However, it may also pose challenges for traditional storage vendors who may struggle to compete with cloud providers. Overall, the trend towards cloud storage in Laos is significant for stakeholders in the Data Center Market, as it has the potential to reshape the industry landscape and drive innovation in storage solutions.

Local special circumstances: In Laos, the Storage Market within the Data Center Market is still in its early stages of development. The country's limited technological infrastructure and low internet penetration rates present challenges for data center operators. However, the government's efforts to improve internet connectivity and attract foreign investments in the tech sector are expected to drive growth in the market. Additionally, Laos' strategic location in Southeast Asia and its growing economic ties with neighboring countries make it an attractive destination for data center expansion.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in digital technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for data storage and processing capabilities due to the rise of digitalization and cloud computing is driving the growth of the Storage Market within the Data Center Market.

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.