Storage - Qatar

Qatar

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 8.77%, 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 in the United States (US$23,930m in 2024).

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Customers in Qatar are increasingly looking for storage solutions that offer advanced security features, easy accessibility, and scalability to accommodate their growing storage needs. With the rise of digitalization and the increasing amount of data being generated, there is a growing demand for cloud storage solutions that offer flexibility and cost-effectiveness.

Trends in the market: One of the key trends in the Storage market in Qatar is the shift towards cloud-based storage solutions. This trend is driven by the need for efficient data management, disaster recovery capabilities, and the ability to access data from anywhere at any time. Additionally, there is a growing focus on data privacy and compliance with regulations, leading to an increased adoption of secure storage solutions.

Local special circumstances: Qatar's strategic geographic location and its focus on becoming a digital hub in the region have contributed to the growth of the Storage market. The government's initiatives to promote digital transformation and smart city development have also created opportunities for storage solution providers to cater to the increasing demand for data storage and management services.

Underlying macroeconomic factors: The stable economic growth in Qatar, driven by investments in infrastructure development and diversification of the economy, has created a conducive environment for the growth of the Storage market. Additionally, the increasing number of businesses and organizations in Qatar, across various sectors, has led to a higher demand for storage solutions to manage their data effectively.

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.