Storage - Myanmar | Statista Market Forecast

Revenue in the Storage market is projected to reach US$22.89m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.88%, resulting in a market volume of US$36.65m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$0.92 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 Myanmar is facing negligible growth due to factors like limited infrastructure and slow adoption of digital technologies. However, rising demand for data storage solutions and increasing investments in data centers are expected to drive growth in the coming years.

Customer preferences: As data storage needs continue to grow in Myanmar, there is a noticeable trend towards cloud-based solutions and managed services. This is driven by the increasing adoption of digital technologies and the need for scalable and cost-effective storage solutions. Additionally, there is a growing demand for data security and privacy measures, leading to the emergence of local data centers that offer enhanced security features. These trends reflect the country's evolving digital landscape and the importance of data management and protection in the fast-growing tech market.

Trends in the market: In Myanmar, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based storage solutions, as well as an increase in demand for data backup and disaster recovery services. This trend is driven by the country's growing digital economy and the need for reliable and secure data storage solutions. Industry stakeholders are recognizing the potential for growth in this market and are investing in infrastructure and partnerships to meet the rising demand. This trend is expected to continue in the coming years, providing opportunities for data center providers and technology companies to expand their services and offerings in Myanmar.

Local special circumstances: In Myanmar, the Storage Market within the Data Center Market is influenced by the country's geographical location and cultural practices. The lack of infrastructure and limited internet penetration pose challenges for data center operators. Additionally, the government's strict regulations on data storage and privacy impact the market dynamics. This creates a unique market environment, with a focus on developing sustainable and secure data storage solutions to meet the needs of both local and international businesses.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Myanmar is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and investment in infrastructure. With the country's rapid economic growth and increasing investment in technology, the demand for data storage solutions is expected to rise. Additionally, the government's efforts to improve digital infrastructure and attract foreign investment are further driving the growth of the Storage Market. However, challenges such as limited access to electricity and internet connectivity may hinder market growth.

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.