Key regions: Brazil, Indonesia, Europe, United States, Italy
The Storage market in South America has been experiencing steady growth in recent years, driven by increasing demand for data storage solutions in various industries. Customer preferences in the region have shifted towards cloud storage services, as businesses seek more flexible and scalable storage options. Additionally, the proliferation of smartphones and the growing popularity of social media platforms have led to a significant increase in the volume of data being generated, further driving the demand for storage solutions. Customer preferences in South America have been influenced by global trends in the storage market. Businesses are increasingly opting for cloud storage services due to their cost-effectiveness and flexibility. Cloud storage allows companies to store and access data remotely, eliminating the need for on-site servers and reducing infrastructure costs. This has been particularly appealing to small and medium-sized enterprises (SMEs) in the region, which often have limited resources and require scalable storage solutions. As a result, cloud storage providers have seen significant growth in South America, with both local and global players entering the market to meet the increasing demand. Another factor driving the growth of the storage market in South America is the rapid expansion of the e-commerce industry. As more consumers in the region turn to online shopping, businesses are faced with the challenge of managing and storing large volumes of data related to customer transactions and inventory management. This has led to increased investment in storage solutions that can handle the growing data requirements of e-commerce companies. Additionally, the adoption of digital payment systems and the increasing use of mobile devices for online shopping have further fueled the demand for storage solutions. Local special circumstances in South America have also contributed to the growth of the storage market. The region has a large and diverse population, with varying levels of internet penetration and technological infrastructure. This has created opportunities for both local and international storage providers to cater to the specific needs of different countries and industries. For example, countries with higher levels of internet penetration, such as Brazil and Argentina, have seen higher demand for cloud storage services. On the other hand, countries with less developed internet infrastructure, such as Bolivia and Paraguay, have seen increased demand for on-premises storage solutions. Underlying macroeconomic factors have also played a role in the development of the storage market in South America. The region has experienced economic growth in recent years, which has led to increased investment in technology and infrastructure. This, coupled with government initiatives to promote digitalization and improve internet connectivity, has created a favorable environment for the storage market to thrive. Additionally, the increasing importance of data security and compliance regulations has prompted businesses to invest in storage solutions that can ensure the protection of sensitive information. Overall, the storage market in South America is poised for continued growth in the coming years. Customer preferences for cloud storage services, driven by cost-effectiveness and scalability, are expected to remain strong. The expansion of the e-commerce industry and the increasing volume of data being generated will continue to drive demand for storage solutions. Local special circumstances, such as varying levels of internet penetration and infrastructure development, will create opportunities for both local and international storage providers. Additionally, underlying macroeconomic factors, including economic growth and government initiatives, will support the growth of the storage market in South America.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
