Storage - Indonesia

Indonesia

Revenue in the Storage market is projected to reach US$349.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.29%, resulting in a market volume of US$462.90m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$2.43 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 Indonesia is experiencing significant growth due to several key factors.

Customer preferences: In recent years, there has been a growing demand for storage solutions in Indonesia. This is primarily driven by the increasing adoption of digital technologies and the need for data storage and management. With the rise of e-commerce, social media, and other online platforms, businesses and individuals alike are generating vast amounts of data that need to be stored securely and accessed easily. As a result, there is a strong demand for storage solutions that offer high capacity, reliability, and scalability.

Trends in the market: One of the key trends in the storage market in Indonesia is the shift towards cloud storage. Cloud storage offers several advantages over traditional storage methods, such as on-premises servers or external hard drives. It provides greater flexibility, allowing users to access their data from anywhere with an internet connection. Additionally, cloud storage is typically more cost-effective, as it eliminates the need for expensive hardware and maintenance. As a result, many businesses and individuals in Indonesia are adopting cloud storage solutions. Another trend in the market is the increasing demand for solid-state drives (SSDs). SSDs offer faster data transfer speeds and better reliability compared to traditional hard disk drives (HDDs). This is particularly important in Indonesia, where internet connectivity can sometimes be unreliable. By using SSDs, users can access their data more quickly and reduce the risk of data loss due to connectivity issues.

Local special circumstances: Indonesia is the fourth most populous country in the world, with a rapidly growing middle class. This has led to an increase in the number of internet users and the adoption of digital technologies. As more people go online, the demand for storage solutions is expected to continue growing. Additionally, the Indonesian government has been actively promoting digital transformation and the development of the digital economy. This has created a favorable environment for the storage market to thrive.

Underlying macroeconomic factors: The Indonesian economy has been growing steadily in recent years, with a strong focus on infrastructure development. This has improved internet connectivity and made digital technologies more accessible to the population. Additionally, the government has implemented various policies to attract foreign investment and promote entrepreneurship. These factors have contributed to the growth of the storage market in Indonesia. In conclusion, the storage market in Indonesia is experiencing significant growth due to the increasing adoption of digital technologies, the shift towards cloud storage, and the demand for faster and more reliable storage solutions. With a growing middle class and a government that is actively promoting digital transformation, the storage market in Indonesia is expected to continue expanding in the coming years.

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.