Storage - Turkey

Turkey

Revenue in the Storage market is projected to reach US$124.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.40%, resulting in a market volume of US$186.50m by 2029.
The average Spend per Employee in the Storage market is projected to reach US$3.45 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

Market

Region

Region comparison

Currency

Analyst Opinion

Over the past few years, the Storage market in Turkey has been experiencing significant growth and development.

Customer preferences: Customers in Turkey are increasingly looking for storage solutions that offer not only ample space but also advanced security features to protect their data. The demand for cloud storage services is on the rise as businesses and individuals seek flexible and scalable options to store their information securely.

Trends in the market: One notable trend in the Turkish Storage market is the growing adoption of hybrid storage solutions, combining on-premises storage with cloud-based services. This trend is driven by the need for both cost-effective and reliable storage options that can accommodate the increasing volume of data generated by businesses.

Local special circumstances: Turkey's strategic location between Europe and Asia makes it a key player in the global trade and logistics sector. As a result, the country's Storage market is influenced by the need for efficient data management and storage solutions to support the growing e-commerce and supply chain activities in the region.

Underlying macroeconomic factors: The increasing digitalization of businesses in Turkey, coupled with the government's initiatives to promote technology adoption, is fueling the demand for storage solutions in the country. Additionally, the rising number of startups and small to medium enterprises in Turkey are driving the need for affordable and scalable storage options to support their growth and expansion.

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.