Storage - Mexico

Mexico

Revenue in the Storage market is projected to reach US$0.37bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.59%, resulting in a market volume of US$0.46bn by 2028.
The average Spend per Employee in the Storage market is projected to reach US$6.03 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 Mexico has been experiencing significant growth in recent years. Customer preferences for storage solutions have shifted towards cloud-based services, driving the demand for storage infrastructure. In addition, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in Mexico have been influenced by the increasing need for data storage and management. With the proliferation of digital content and the rise of big data analytics, businesses and individuals are generating and accumulating vast amounts of data. This has led to a growing demand for storage solutions that can handle large volumes of data and provide scalability. Cloud-based storage services have emerged as a popular choice due to their flexibility, cost-effectiveness, and ease of access. Customers in Mexico are increasingly adopting cloud storage solutions to meet their data storage needs. Trends in the storage market in Mexico reflect the global shift towards cloud-based storage solutions. As businesses and individuals seek to optimize their storage infrastructure, they are turning to cloud storage providers for their scalability and cost-effectiveness. This trend is driven by the need for efficient data management, backup, and disaster recovery solutions. Cloud storage also offers the advantage of remote accessibility, allowing users to access their data from anywhere at any time. As a result, the demand for traditional on-premises storage solutions is declining in Mexico. Local special circumstances in Mexico have contributed to the growth of the storage market. The country has a large and growing population, with increasing internet penetration rates. This has led to a surge in digital content consumption and data generation. Furthermore, the Mexican government has implemented initiatives to promote digital transformation and encourage the adoption of cloud-based services. These factors have created a favorable environment for the development of the storage market in Mexico. Underlying macroeconomic factors have also played a role in the growth of the storage market in Mexico. The country has experienced steady economic growth in recent years, which has led to increased business activities and data generation. Additionally, the rapid expansion of e-commerce and the digitalization of industries have further fueled the demand for storage solutions. As businesses strive to stay competitive and meet the growing data storage requirements, they are investing in storage infrastructure to support their operations. In conclusion, the storage market in Mexico is experiencing significant growth driven by customer preferences for cloud-based storage solutions, local special circumstances, and underlying macroeconomic factors. The shift towards cloud storage reflects the global trend towards scalable and cost-effective storage solutions. As businesses and individuals generate and accumulate more data, the demand for efficient storage infrastructure will continue to grow in Mexico.

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.