Storage - Argentina

Argentina

Revenue in the Storage market is projected to reach US$0.35bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.66%, resulting in a market volume of US$0.42bn by 2028.
The average Spend per Employee in the Storage market is projected to reach US$16.20 in 2024.
In global comparison, most revenue will be generated in the United States (US$20,060m in 2024).

Key regions: Brazil, Indonesia, Europe, United States, Italy

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Analyst Opinion

The Storage market in Argentina is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Argentina are increasingly seeking storage solutions that are reliable, secure, and scalable. They are looking for storage options that can handle the growing volume of data generated by businesses and individuals. Additionally, customers are placing a greater emphasis on data protection and security, as well as the ability to access their data from anywhere at any time.

Trends in the market: One of the key trends in the storage market in Argentina is the increasing adoption of cloud storage solutions. Cloud storage offers numerous benefits, including cost savings, scalability, and ease of access. Many businesses in Argentina are migrating their data to the cloud to take advantage of these benefits. Additionally, the demand for flash storage is also on the rise, as it offers faster data access and improved performance compared to traditional hard disk drives. Another trend in the market is the growing popularity of storage-as-a-service (STaaS) offerings. STaaS allows customers to pay for storage on a subscription basis, eliminating the need for large upfront investments in hardware. This model is particularly appealing to small and medium-sized businesses in Argentina, as it allows them to access enterprise-level storage solutions without the associated costs.

Local special circumstances: Argentina has a rapidly growing digital economy, with an increasing number of businesses and individuals relying on digital platforms and services. This has led to a significant increase in the demand for storage solutions. Additionally, the country has a large and growing population, which further contributes to the need for storage capacity.

Underlying macroeconomic factors: The storage market in Argentina is also influenced by several macroeconomic factors. The country has experienced periods of economic instability and inflation in recent years, which has led to a depreciation of the local currency. This has made imported storage solutions more expensive, incentivizing local production and development of storage technologies. Furthermore, the government in Argentina has implemented policies to promote the growth of the digital economy, including tax incentives and subsidies for technology companies. These policies have encouraged investment in the storage market and have contributed to its overall development. In conclusion, the storage market in Argentina is experiencing growth and development driven by customer preferences for reliable and secure storage solutions, as well as the increasing adoption of cloud storage and storage-as-a-service offerings. The country's growing digital economy, population, and government policies also contribute to the market's 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.