Storage - Qatar | Statista Market Forecast

Revenue in the Storage market is projected to reach US$23.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.78%, resulting in a market volume of US$35.31m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$11.07 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 Qatar's Data Center Market is currently experiencing a negligible decline in growth rate due to factors such as limited infrastructure and high costs of implementation. However, increasing demand for data storage and security solutions is expected to drive market growth in the near future.

Customer preferences: As the demand for data storage continues to grow in Qatar, there has been a noticeable shift towards cloud-based storage solutions. This trend is driven by the increasing adoption of digital services and the need for efficient and scalable data management. Additionally, with the rise of remote work and e-learning, the demand for virtual desktop infrastructure (VDI) has also increased, further driving the need for cloud storage options. This shift towards cloud-based storage reflects a growing preference for flexibility, accessibility, and cost-effectiveness among consumers in Qatar.

Trends in the market: In Qatar, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, driven by the country's rapid digital transformation and increasing data consumption. This trend is expected to continue as businesses and government agencies seek to improve data management and scalability. Additionally, there is a growing focus on green data storage solutions, with the government promoting sustainable practices in the data center industry. This presents opportunities for industry stakeholders to capitalize on the trend and offer eco-friendly storage solutions, while also addressing potential challenges such as data security and privacy concerns.

Local special circumstances: In Qatar, the Storage Market within the Data Center Market is heavily influenced by the country's rapid economic growth and the government's focus on developing a knowledge-based economy. This has led to a high demand for data storage solutions in industries such as finance, healthcare, and education. Additionally, the country's strict data privacy laws and regulations have created a need for secure and compliant storage options, driving market growth. The unique geographical location of Qatar, as a major hub for international businesses, also plays a significant role in the demand for data center storage services.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Qatar is heavily influenced by macroeconomic factors such as government initiatives to promote digital transformation, investments in infrastructure development, and the country's overall economic stability. These factors have created a favorable environment for the growth of the data center market, which in turn has driven the demand for storage solutions. Additionally, the country's strategic location and strong connectivity to global markets make it an attractive hub for data center operations, further bolstering 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.