Storage - Southern Asia | Statista Market Forecast

Revenue in the Storage market is projected to reach US$1.25bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.09%, resulting in a market volume of US$1.93bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$1.73 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.

For more information on the data displayed, use the info button right next to the boxes.

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 Southern Asia has seen a slight decline in growth rate. This can be attributed to factors such as slow adoption of digital technologies, lack of health awareness among consumers, and limited availability of online storage services. Despite this, the market is expected to pick up pace in the near future with increasing demand for efficient data management solutions.

Customer preferences: As data becomes increasingly integral to business operations, there is a growing demand for cost-effective and efficient data storage solutions in the Data Center Market. This has led to a rise in the adoption of cloud storage and data management services, as companies seek to optimize their storage infrastructure. Additionally, with the rise of e-commerce and online shopping in Southern Asia, there is a need for secure and reliable storage solutions to ensure the smooth functioning of online transactions and data transfer. This trend is expected to continue as the region experiences rapid urbanization and digital transformation.

Trends in the market: In Southern Asia, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, driven by the increasing adoption of digital technologies and the need for efficient data management. This trend is expected to continue, with the region's growing population and expanding digital infrastructure. As a result, industry players are investing in advanced storage technologies to cater to the rising demand and gain a competitive edge. This trend also presents opportunities for collaboration between local and global players, as well as potential challenges related to data security and privacy regulations.

Local special circumstances: In Southern Asia, the Storage Market within the Data Center Market is heavily influenced by the region's rapidly growing digital economy and the increasing demand for cloud storage solutions. With countries like India and Indonesia experiencing a surge in internet users, the demand for data storage and management services is also on the rise. Additionally, cultural norms and government regulations play a significant role in shaping the market, such as data localization laws in countries like China and Vietnam. These factors create a unique landscape for the Storage Market in Southern Asia, with a strong focus on data security and compliance.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Southern Asia is heavily impacted by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with favorable economic conditions and strong investment in digital storage solutions are experiencing faster market growth compared to regions with economic challenges and limited funding for technology. Additionally, the increasing adoption of cloud-based services and the growth of e-commerce are driving the demand for efficient and secure data storage solutions in the region.

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.