Storage - Portugal | Statista Market Forecast

Revenue in the Storage market is projected to reach US$62.35m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.75%, resulting in a market volume of US$90.55m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$11.40 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 Portugal within the Data Center Market is facing a negligible decline in growth rate. Factors such as saturation of the market, lack of innovation, and high competition are impacting this decline. However, with the increasing demand for data storage and the rise of cloud computing, the market is expected to experience a rebound in growth in the coming years.

Customer preferences: In Portugal, there has been a noticeable increase in the demand for cloud-based storage solutions in the Data Center Market. This can be attributed to the growing trend of remote work and the need for efficient data management. Additionally, there has been a rise in the adoption of hybrid storage models, combining traditional on-premise storage with cloud-based solutions. This shift is driven by the desire for greater flexibility and scalability in managing data storage.

Trends in the market: In Portugal, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, driven by the increasing adoption of cloud computing and data-intensive applications. This trend is expected to continue as more businesses shift towards digital transformation and remote work models. Additionally, there is a growing trend towards the use of advanced storage technologies such as all-flash arrays and software-defined storage, enabling faster data access and better scalability. This trend is significant for industry stakeholders as it presents opportunities for growth and innovation in the data center market. However, it also poses challenges in terms of data security and management, requiring businesses to invest in robust data protection measures. Overall, the trajectory of these trends indicates a shift towards a more data-driven and technologically advanced market, with potential implications for the competitiveness of businesses and the overall economy.

Local special circumstances: In Portugal, the Storage Market within the Data Center Market is influenced by the country's push for renewable energy and sustainable practices. This has led to the adoption of green data centers, which use innovative storage solutions to reduce energy consumption. Moreover, the government's focus on data protection and privacy regulations has created a demand for secure storage options. Additionally, Portugal's strategic location between Europe and Africa has made it a hub for international data storage, further driving market growth.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Portugal is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Portugal's strong economic growth and favorable regulatory environment have fostered a conducive market for data center infrastructure. Additionally, the country's investments in digital infrastructure and its growing IT sector are driving the demand for storage solutions. Furthermore, the increasing adoption of cloud computing and big data analytics in Portugal is also contributing to the growth of 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.