Storage - Romania

Romania

Revenue in the Storage market is projected to reach US$32.47m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.11%, resulting in a market volume of US$42.73m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$3.83 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 Romania has been experiencing significant growth in recent years, driven by customer preferences for increased data storage capacity, advancements in technology, and the growing need for data backup and recovery solutions. Customer preferences in the Storage market in Romania are shifting towards larger storage capacities and more advanced features. With the increasing amount of data being generated by businesses and individuals, there is a growing demand for storage solutions that can accommodate this data growth. Customers are also seeking storage solutions that offer faster data transfer speeds and improved reliability. As a result, storage vendors in Romania are focusing on developing high-capacity storage devices with advanced features such as solid-state drives (SSDs) and cloud storage options. In addition to customer preferences, there are several trends in the Storage market in Romania that are driving its development. One of the key trends is the adoption of cloud storage solutions. Cloud storage offers several benefits, including scalability, cost-effectiveness, and remote access to data. Many businesses in Romania are embracing cloud storage as a way to reduce their IT infrastructure costs and improve data accessibility. Another trend is the increasing use of SSDs in storage devices. SSDs offer faster data transfer speeds and improved reliability compared to traditional hard disk drives (HDDs). As a result, SSDs are becoming the preferred choice for many customers in Romania. Local special circumstances in Romania also contribute to the development of the Storage market. Romania has a growing IT sector, with many international companies establishing their presence in the country. This has led to an increased demand for storage solutions to support the data storage and management needs of these companies. Furthermore, the Romanian government has been implementing initiatives to promote the digitalization of businesses and public services. This has created a favorable environment for the growth of the Storage market, as businesses and organizations seek to modernize their IT infrastructure. Underlying macroeconomic factors also play a role in the development of the Storage market in Romania. The country has experienced steady economic growth in recent years, which has led to increased investment in technology and infrastructure. This has created opportunities for storage vendors to expand their operations and cater to the growing demand for storage solutions. Additionally, Romania has a young and tech-savvy population, which is driving the adoption of digital technologies and increasing the need for data storage. Overall, the Storage market in Romania is developing rapidly due to customer preferences for larger storage capacities and advanced features, as well as trends such as the adoption of cloud storage and the use of SSDs. Local special circumstances, such as the growing IT sector and government initiatives to promote digitalization, are also contributing to the market's growth. Additionally, underlying macroeconomic factors, including steady economic growth and a young population, are creating opportunities for storage vendors in Romania.

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.