Storage - Pakistan

Pakistan

Revenue in the Storage market is projected to reach US$198.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.80%, resulting in a market volume of US$263.20m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$2.40 in 2024.
In global comparison, most revenue will be generated in the United States (US$23,930m in 2024).

Key regions: United Kingdom, Brazil, India, China, Indonesia

Market

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Analyst Opinion

The Storage market in Pakistan has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Pakistan are increasingly looking for storage solutions that offer both reliability and affordability. With the rise of e-commerce and digitalization, there is a growing need for storage options that can securely store large amounts of data. Additionally, customers are placing a higher emphasis on cloud storage solutions that provide flexibility and accessibility from anywhere.

Trends in the market: One of the key trends in the Storage market in Pakistan is the shift towards cloud-based storage solutions. This trend is driven by the need for scalable and cost-effective storage options, especially for small and medium-sized businesses. Another notable trend is the increasing demand for solid-state drives (SSDs) due to their faster data access speeds compared to traditional hard disk drives.

Local special circumstances: Pakistan's Storage market is also influenced by local factors such as the improving internet infrastructure and the government's initiatives to promote digitalization. As more businesses and individuals in Pakistan go online, the need for reliable and secure storage solutions becomes paramount. Additionally, the growing number of startups and small businesses in the country is driving the demand for storage options that can accommodate their dynamic needs.

Underlying macroeconomic factors: The growth of the Storage market in Pakistan is also supported by favorable macroeconomic factors such as increasing disposable income levels and a young, tech-savvy population. As more Pakistanis gain access to smartphones and computers, the demand for storage solutions for personal and professional use is expected to rise. Furthermore, the government's focus on improving the country's digital infrastructure is creating opportunities for storage solution providers to expand their offerings in the market.

Methodology

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.