Storage - Romania | Statista Market Forecast

Revenue in the Storage market is projected to reach US$31.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.43%, resulting in a market volume of US$45.05m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$3.83 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 of Romania has been impacted by a negligible decline in growth rate. Factors such as the increasing adoption of digital technologies, a growing awareness of the importance of data storage, and the convenience of online storage services have contributed to this trend.

Customer preferences: The growing adoption of cloud computing and the rise of big data analytics have driven the demand for efficient and scalable storage solutions in the Data Center Market in Romania. This has led to a shift towards the use of solid-state drives (SSDs) and all-flash arrays, as they offer faster performance and higher reliability compared to traditional hard disk drives (HDDs). Additionally, with the increasing use of artificial intelligence and machine learning in data analysis, there is a growing demand for high-capacity storage solutions that can handle large volumes of data.

Trends in the market: In Romania, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based solutions, with more businesses opting for virtual storage and data management services. This trend is expected to continue as companies look for cost-effective and scalable storage options. Additionally, there is a growing demand for data security and compliance, leading to the adoption of advanced storage technologies such as encryption and data backup. These trends signal a shift towards a more efficient and secure data management landscape, providing opportunities for industry stakeholders to capitalize on this growing market.

Local special circumstances: In Romania, the Storage Market within the Data Center Market is influenced by the country's geographical location as a bridge between Eastern and Western Europe. This has led to an increase in demand for storage solutions from international companies looking to expand into the region. Additionally, Romania's strong IT talent pool and competitive operating costs make it an attractive location for data center investments. However, the country's strict data privacy regulations and limited digital infrastructure present challenges for market growth.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Romania is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and overall investment climate. With a growing economy and increasing investments in technology, Romania is becoming a hub for data center services and storage solutions. Additionally, the country's favorable regulatory environment and strong support for digital infrastructure are contributing to the growth of the Storage Market. The demand for storage solutions is also driven by the increasing use of cloud computing and the need for secure data storage. Overall, these factors are creating a favorable market environment for the Storage Market within the Data Center Market in Romania, leading to its continued growth and expansion.

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.