Storage - Taiwan

Taiwan

Revenue in the Storage market is projected to reach US$278.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.71%, resulting in a market volume of US$442.50m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$10.72 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

In Taiwan nan, the Storage Market within the Data Center Market is experiencing slow growth due to factors such as limited market demand and competition from other storage solutions. Despite this, the market is expected to see steady growth in the coming years as more businesses adopt digital technologies and seek efficient storage solutions.

Customer preferences: As the demand for data storage continues to rise in Taiwan, there has been a noticeable shift towards cloud-based storage solutions. This is driven by the growing adoption of cloud computing and the need for efficient data management in the country. Additionally, the increasing use of mobile devices and the rise of e-commerce have also contributed to the demand for secure and scalable storage solutions within data centers. This trend is expected to continue as more businesses and individuals embrace digitalization and rely on data-driven processes.

Trends in the market: In Taiwan, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, with businesses and organizations increasingly relying on cloud storage for data management and backup. This trend is driven by the growing adoption of digital technologies and the need for scalable and cost-effective storage solutions. As a result, there is a rise in the development of data centers equipped with advanced storage infrastructure. This trend is significant as it allows businesses to store and access their data more efficiently, leading to increased productivity and cost savings. However, it also poses challenges for industry stakeholders, including data center operators, who must continuously invest in advanced storage technologies to meet the growing demand. Additionally, data privacy and security concerns also arise with the use of cloud storage, highlighting the need for robust data protection measures.

Local special circumstances: In Taiwan, the Storage Market within the Data Center Market is heavily influenced by the country's advanced technology infrastructure and government support for innovation. The market is also driven by the high demand for data storage solutions in the rapidly growing digital economy. Additionally, Taiwan's strict data privacy regulations and strong cybersecurity measures have made it a preferred location for data center operations, further boosting the growth of the Storage Market.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market in Taiwan is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. With a strong focus on digital transformation and the development of smart cities, Taiwan has a favorable regulatory environment and significant investment in digital infrastructure, which is driving the demand for data storage solutions. Additionally, the increasing adoption of cloud computing and the growth of the e-commerce industry in Taiwan are also contributing to the demand for data storage in the country.

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.