Press release
Data Storage Market : Future Forecast Assessed on the basis of how the Market is Predicted to Grow
The Middle East regions are witnessing digital transformation currently. This is primarily attributed to the increasing presence of leading data storage providers, such as IBM Corporation and Microsoft Corporation, in these regions, which offer services such as mobile integration, hybrid cloud storage and data analytics.
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Emergence of the Internet of Everything (IoE), which in turn is expected to lead to the upsurge in the data produced, is expected to drive demand for enhanced enterprise data storage solutions in the Middle East regions.
Continuous decline in the prices of consumer storage devices, such HDD (hard disk drive) and (solid-state drive) SSD, is further promoting growth of the data storage market currently. Development of the 3D NAND technology has been a game-changer for the consumer storage industry, resulting in the rise in SSD capacities and decline in prices.
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Advancements in information and social technology have paved the way for unabated data growth. Business enterprises have moved from duplication and compression techniques to rack servers and data centres in order to manage growth of Big Data. This offers enterprises an improved, scalable and cost effective platform solution.
The Middle East data storage market was valued at US$ 1,475.9 Mn in 2014 and is expected to expand at a CAGR of 14.4% during the forecast period (2015-2025) to reach US$ 6,537.6 Mn by 2025. The Middle East data storage market is classified on the basis of its end-users. The commercial end-user segment was valued at US$ 1,085.9 Mn in 2014 and is expected to expand at a CAGR of 14.3% during the forecast period.
The data storage market is segmented based on its usage across various industry verticals. The telecom and IT vertical segment accounted for the largest revenue share of the overall market in 2014, and is projected to expand at a CAGR of 16% during the forecast period 2015-2025.
Key players in the Middle East data storage market include IBM Corporation, Microsoft Corporation, VMware Corporation, Hewlett-Packard Enterprise Co., NetApp Inc., Open Text Corp., Sandisk Corporation, Hitachi Data Systems Corporation, EMC Corporation, and Nexenta Systems, Inc.
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