Storage - Slovakia

  • Slovakia
  • Revenue in the Storage market is projected to reach US$44.50m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.46%, resulting in a market volume of US$66.80m by 2029.
  • The average Spend per Employee in the Storage market is projected to reach US$15.67 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

 
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Analyst Opinion

The Storage Market in Slovakia within the Data Center Market has seen a decline in growth rate due to factors such as limited investments and slow adoption of digital technologies. However, the convenience of online services and rising awareness about data storage may lead to future growth.

Customer preferences:
The growing demand for cloud-based storage solutions in Slovakia has been driven by the increasing adoption of digital technologies and the need for efficient data management. This trend is expected to continue as businesses and organizations seek to streamline their operations and meet the growing demand for data storage and processing. Additionally, the rise of big data and the Internet of Things (IoT) has led to a greater need for scalable and secure storage solutions, further contributing to the growth of the Storage Market within the Data Center Market.

Trends in the market:
In Slovakia, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based services, with more companies opting for virtual storage solutions over physical hardware. This trend is driven by the need for scalability and cost-efficiency in data management. Additionally, the rise of big data and the Internet of Things (IoT) is creating a demand for advanced storage solutions that can handle large volumes of data. These developments have significant implications for industry stakeholders, as it allows for greater flexibility and agility in data management, but also requires a shift in traditional storage models.

Local special circumstances:
In Slovakia, the Data Center Market is experiencing growth due to the country's strategic location and favorable business climate. The government has implemented policies to attract foreign investment and promote digitalization, driving demand for data storage solutions. Additionally, the country's strong IT infrastructure and skilled workforce make it an ideal location for data center operations. However, strict data protection regulations and a limited pool of local data center providers may pose challenges for market growth.

Underlying macroeconomic factors:
The Storage Market within the Data Center Market in Slovakia is greatly influenced by macroeconomic factors such as technological advancements, government policies, and investment in IT infrastructure. Countries with favorable regulatory environments and strong investment in digital technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. The increasing demand for data storage solutions, driven by the growing adoption of cloud computing and big data analytics, is also a major factor contributing to the growth of the Storage Market in Slovakia.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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