Storage - Morocco | Statista Market Forecast

Revenue in the Storage market is projected to reach US$54.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.03%, resulting in a market volume of US$83.24m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$4.20 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 Morocco is facing a negligible decline, impacting the storage market's growth rate. Factors such as limited infrastructure and slow adoption of digital technologies are hindering the market's growth potential. However, rising demand for data storage and increasing investments in the IT sector are expected to drive growth in the future.

Customer preferences: As Morocco's economy continues to grow and businesses increasingly rely on data storage and management, there has been a rise in demand for cloud-based storage solutions. This is driven by the need for more scalable and cost-effective options, as well as the growing adoption of digital transformation strategies. Additionally, the shift towards remote work and online collaboration has further fueled the demand for secure and reliable storage solutions within the data center market.

Trends in the market: In Morocco, the Storage Market within the Data Center Market is experiencing a surge in cloud storage solutions, with more businesses transitioning to remote work and virtual operations. This trend is expected to continue as companies prioritize data security and accessibility. Additionally, there is a growing demand for storage solutions that are energy-efficient and environmentally sustainable. This shift towards green storage solutions is driven by government initiatives and consumer demand for eco-friendly technology. These trends have significant implications for industry stakeholders, as they must adapt to meet the changing needs and expectations of their clients. Companies that can provide secure, efficient, and sustainable storage solutions will have a competitive advantage in the market.

Local special circumstances: In Morocco, the Storage Market within the Data Center Market is influenced by the country's geographic location as a gateway to Africa and its strategic partnership with the European Union. Additionally, Morocco's strong government support for renewable energy and its investment in fiber optic infrastructure have contributed to the growth of the data center market. Furthermore, the country's cultural emphasis on privacy and data security has led to the adoption of advanced security measures in data centers, making it an attractive location for international businesses.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Morocco is influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in data center technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for data storage and management, driven by the growth of digitalization and cloud computing, is expected to further boost the market in Morocco.

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.