Storage - Peru | Statista Market Forecast

Revenue in the Storage market is projected to reach US$96.54m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.46%, resulting in a market volume of US$144.90m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$5.27 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 the Data Center Market in Peru is facing a subdued decline in growth rate due to various factors such as decreasing demand for traditional storage solutions, rising competition from cloud-based storage, and economic uncertainties in the region.

Customer preferences: As technology continues to advance, the Storage Market within the Data Center Market in Peru is witnessing a rise in demand for cloud-based data storage solutions. This is driven by the increasing adoption of digital platforms and services, as well as the need for efficient and secure data management. Additionally, with the rise of remote work and virtual collaboration, there is a growing demand for reliable and scalable data storage options. This trend is expected to continue as businesses and individuals rely more on digital solutions and data-driven decision making.

Trends in the market: In Peru, the Storage Market within the Data Center Market is experiencing a surge in demand due to the increasing adoption of cloud-based services and data storage solutions. This trend is expected to continue as more businesses and organizations shift towards digitalization and remote work. As a result, there is a growing need for efficient and secure data storage solutions, leading to a rise in investments and partnerships in the data center industry. This trend also highlights the importance of data security and disaster recovery strategies for industry stakeholders, as well as the potential for growth in the data center market in Peru.

Local special circumstances: In Peru, the Storage Market within the Data Center Market is heavily influenced by its unique geographical location in the Andean region. The country's high altitude and extreme climate create challenges for data center infrastructure, driving the need for specialized solutions. Additionally, Peru's growing digital economy and government initiatives to promote data center development have led to a surge in demand for storage solutions. This, combined with the country's regulatory environment, including strict data privacy laws, creates a dynamic market for storage providers.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Peru is heavily impacted by macroeconomic factors such as the country's economic stability, government policies, and investments in technology infrastructure. Countries with strong economic growth and supportive policies for technology development are experiencing faster growth in the Storage Market. Additionally, the increasing demand for data storage solutions in sectors such as finance, healthcare, and e-commerce is driving the growth of the Storage Market in Peru. Furthermore, the growing adoption of cloud computing and big data analytics is also contributing to the expansion of the Storage Market in the country.

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.