Storage - Tanzania | Statista Market Forecast

Revenue in the Storage market is projected to reach US$14.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.06%, resulting in a market volume of US$23.26m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$0.44 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 Data Center Market in Tanzania is seeing a decline in growth due to factors such as insufficient infrastructure and limited adoption of digital technologies. However, the Storage Market shows promising potential, driven by increasing demand for data storage solutions and the convenience of online services.

Customer preferences: As the demand for data storage and processing increases, there is a growing trend towards cloud-based solutions in Tanzania. This is driven by the need for reliable and scalable storage options, particularly among small and medium enterprises. Additionally, the rising adoption of Internet of Things (IoT) devices and the proliferation of data-driven businesses are contributing to the growth of the storage market within the data center market.

Trends in the market: In Tanzania, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, as businesses look to reduce costs and improve data management. This trend is expected to continue, driven by the country's growing digital economy and increasing adoption of cloud-based services. Additionally, there is a rising focus on data security and compliance, leading to a shift towards more secure and reliable storage solutions. These trends have significant implications for industry stakeholders, including data center providers, cloud storage providers, and businesses relying on data-intensive operations. As the market continues to grow, there will be a greater need for innovative storage solutions and services to meet the evolving needs of businesses in Tanzania.

Local special circumstances: In Tanzania, the Storage Market within the Data Center Market is influenced by the country's unique geographical and regulatory circumstances. The limited access to reliable electricity in certain areas drives the demand for energy-efficient storage solutions. Additionally, the government's push for digitalization in various sectors, including banking and healthcare, is spurring the growth of the data center market and the need for storage solutions. This presents opportunities for companies to innovate and cater to the specific needs of the Tanzanian market.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Tanzania is influenced by macroeconomic factors such as technological developments, government policies, and investment in ICT infrastructure. With a growing economy and increasing investment in digital infrastructure, Tanzania is witnessing a rise in demand for storage solutions within the data center market. Furthermore, the country's efforts to improve digital connectivity and promote digitalization in various industries are expected to drive the growth of the storage market in the data center sector.

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.