Storage - MENA | Statista Market Forecast

Revenue in the Storage market is projected to reach US$1.29bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.30%, resulting in a market volume of US$2.01bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$6.56 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 Data Center Market in MENA is facing a negligible decline in growth, influenced by factors such as increasing competition, economic downturn, and the shift towards cloud-based storage solutions. However, the convenience and efficiency of digital storage continue to drive demand.

Customer preferences: As the demand for cloud-based services and remote work continues to rise, there has been a notable shift towards hybrid cloud storage solutions in the MENA region. This trend is driven by the need for scalable and cost-effective storage options, as well as the increasing adoption of IoT devices and big data analytics. Additionally, cultural preferences for data privacy and security have also resulted in a growing demand for on-premise storage solutions within the Data Center Market.

Trends in the market: In the MENA region, the Storage Market within the Data Center Market is experiencing a significant growth due to the rise of cloud computing and the increasing demand for data storage. This trend is expected to continue in the coming years as more businesses in the region are adopting digital transformation strategies. Additionally, with the increasing focus on data security and privacy, there is a growing demand for advanced storage solutions that offer high levels of protection. This trend presents opportunities for industry stakeholders to expand their offerings and cater to the evolving needs of the market. However, it also poses challenges in terms of infrastructure and resource management. Therefore, it is crucial for businesses to keep up with the trajectory of these trends and invest in innovative solutions to stay competitive in the market.

Local special circumstances: In MENA, the Storage Market within the Data Center Market is heavily influenced by the region's unique environmental challenges. The extreme temperatures and high humidity levels require specialized cooling systems and backup power solutions. Additionally, strict regulatory requirements for data privacy and security, driven by cultural and political factors, impact the design and operations of data centers. These factors contribute to the growth of the data center market in MENA and shape the demand for storage solutions.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in MENA is influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. With the increasing demand for data storage and management, countries with favorable regulatory climates and robust investments in digital infrastructure are experiencing higher market growth. Furthermore, the region's growing economy and rising population are driving the demand for data centers, creating opportunities for growth in 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.