Storage - Thailand

Thailand

Revenue in the Storage market is projected to reach US$212.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.44%, resulting in a market volume of US$319.00m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$5.28 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 the Data Center Market in Thailand is facing a negligible decline in growth rate, impacted by factors such as slow adoption of digital technologies, low health awareness among consumers, and limited availability of online health services.

Customer preferences: As data storage needs continue to grow exponentially, there is a rising demand for cloud-based storage solutions in the Data Center Market in Thailand. This trend is driven by the increasing adoption of digital technologies in both personal and professional settings. Additionally, the shift towards remote work and virtual collaboration has also amplified the need for reliable and scalable storage options. This has led to a significant increase in the use of cloud storage services and solutions in the country.

Trends in the market: In Thailand, the Data Center Market is seeing a surge in demand for storage solutions, driven by the increasing adoption of cloud technologies and the need for efficient data management. This trend is expected to continue as businesses strive for greater data accessibility and scalability. With the country's growing digital economy, the demand for storage is set to rise, offering significant opportunities for industry players. However, this also poses challenges in terms of data security and regulatory compliance, which companies must address to stay competitive in the market.

Local special circumstances: In Thailand, the Storage Market within the Data Center Market is influenced by the country's unique geographical location in Southeast Asia and its rapidly growing digital economy. The government's push for Thailand 4.0, a national strategy to drive digital transformation, has led to increased demand for storage solutions in the data center market. Additionally, the country's favorable business environment, low cost of living, and skilled workforce have attracted major international players to establish data centers in Thailand, further driving the growth of the Storage Market within the Data Center Market.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Thailand is influenced by macroeconomic factors such as technological advancements, government policies, and investment in IT infrastructure. With the rise of cloud computing and data storage needs, Thailand has seen an increase in data center investments and government initiatives to promote digital transformation. Additionally, the country's stable economic growth and favorable business environment have attracted foreign investments, further boosting the growth of the Storage Market within the Data Center Market. Moreover, the increasing adoption of digital solutions in various industries and the growing demand for data analytics are also driving the demand for storage solutions in Thailand.

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.