Storage - Czechia

  • Czechia
  • Revenue in the Storage market is projected to reach US$122.40m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.23%, resulting in a market volume of US$173.50m by 2029.
  • The average Spend per Employee in the Storage market is projected to reach US$22.78 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 Data Center Market in Czechia is facing a negligible decline in growth rate due to factors such as increasing competition, rising costs of storage equipment, and slower adoption of new technologies. Despite this, the market is still expected to experience steady growth due to rising data storage needs and the increasing importance of data security.

Customer preferences:
As the demand for data storage continues to rise, there has been a notable shift towards cloud-based solutions in the Storage Market within the Data Center Market in Czechia. This trend is driven by the growing preference for remote work and digitalization of businesses, as well as the need for flexibility and scalability in managing data. Additionally, with the increasing importance of data privacy and security, consumers are opting for data centers that offer robust security measures and compliance with data protection regulations.

Trends in the market:
In Czechia, the Storage Market within the Data Center Market is experiencing a surge in demand due to the increasing adoption of cloud computing and big data analytics. This trend is expected to continue in the coming years as businesses rely more on data-driven decision making. The significance of this trend lies in the need for efficient and secure storage solutions, which has led to the emergence of data center colocation services. Industry stakeholders must adapt to these changes by investing in advanced storage technologies and offering colocation services to meet the growing demand. Failure to do so may result in losing market share to competitors.

Local special circumstances:
In Czechia, the Data Center Market is driven by the country's strategic location in central Europe, making it a hub for international businesses. The market is also influenced by the government's efforts to promote digitalization and attract foreign investments. Additionally, the country's strict data protection laws ensure a secure environment for data storage, driving the demand for storage solutions within the Data Center Market.

Underlying macroeconomic factors:
The Storage Market within the Data Center Market in Czechia is influenced by macroeconomic factors such as technological advancements, government policies, and investments in IT infrastructure. With a favorable business climate and strong government support, Czechia has become a hub for data centers, leading to increased demand for storage solutions. Furthermore, the growing digitalization of businesses and the need for efficient data management are driving the growth of the storage market in Czechia.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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