Storage - Qatar

Qatar

Revenue in the Storage market is projected to reach US$18.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.52%, resulting in a market volume of US$23.43m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$8.29 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

Market

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Analyst Opinion

The Storage market in Qatar has been experiencing significant growth in recent years.

Customer preferences: Customers in Qatar have shown a strong preference for storage solutions that are secure, reliable, and easily accessible. This is driven by the need to store and manage large amounts of data, as well as the increasing demand for cloud storage services. Additionally, customers in Qatar prioritize solutions that offer scalability and flexibility, allowing them to easily expand their storage capacity as their needs grow.

Trends in the market: One of the key trends in the storage market in Qatar is the increasing adoption of cloud storage solutions. Cloud storage offers numerous benefits, including cost savings, scalability, and remote accessibility. As a result, many businesses and individuals in Qatar are turning to cloud storage providers to meet their storage needs. This trend is expected to continue as more organizations recognize the advantages of cloud storage and the demand for data storage continues to grow. Another trend in the market is the rising demand for data centers in Qatar. Data centers play a crucial role in storing and managing large amounts of data, and their importance has grown significantly in recent years. This is driven by the increasing digitization of businesses and the need to store and process large volumes of data. As a result, there has been a significant investment in the construction of data centers in Qatar, which has further fueled the growth of the storage market.

Local special circumstances: Qatar's geographical location and its strategic position as a hub for businesses in the Middle East have contributed to the growth of the storage market. The country's stable political environment, advanced infrastructure, and favorable business climate have attracted multinational companies and businesses from various industries. This has led to an increased demand for storage solutions to support their operations and store their data securely.

Underlying macroeconomic factors: The growth of the storage market in Qatar is also supported by the country's strong economic performance and its focus on diversifying its economy. Qatar has been investing heavily in sectors such as finance, technology, and logistics, which require robust storage infrastructure to support their operations. Additionally, the government's efforts to promote digital transformation and innovation have created opportunities for storage solution providers to cater to the growing needs of businesses in Qatar. In conclusion, the storage market in Qatar is experiencing significant growth due to customer preferences for secure and scalable storage solutions, the increasing adoption of cloud storage, the rising demand for data centers, Qatar's strategic position as a business hub, and the country's strong economic performance. These factors are expected to continue driving the growth of the storage market in Qatar 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.