Storage - Southern Africa

Southern Africa

Revenue in the Storage market is projected to reach US$170.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.75%, resulting in a market volume of US$204.80m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$5.91 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

Region

Region comparison

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Analyst Opinion

The Storage market in Southern Africa is experiencing significant growth and development in recent years.

Customer preferences: Customers in Southern Africa are increasingly looking for storage solutions that are efficient, reliable, and cost-effective. They are seeking storage options that can handle large amounts of data and provide quick access to information. Additionally, customers are also concerned about data security and are looking for storage solutions that can protect their data from cyber threats and unauthorized access.

Trends in the market: One of the key trends in the storage market in Southern Africa is the increasing adoption of cloud storage solutions. Cloud storage offers several advantages, including scalability, flexibility, and reduced costs. Many businesses in the region are embracing cloud storage to meet their growing data storage needs. This trend is driven by the need for businesses to store and access large amounts of data, as well as the desire to reduce infrastructure costs. Another trend in the market is the growing demand for solid-state drives (SSDs). SSDs offer faster data access speeds and improved performance compared to traditional hard disk drives (HDDs). The declining prices of SSDs and the increasing availability of high-capacity SSDs are driving the adoption of this technology in Southern Africa.

Local special circumstances: Southern Africa has a growing technology sector, with many businesses and organizations relying heavily on digital information. This has created a strong demand for storage solutions that can handle large amounts of data and provide fast and reliable access. Additionally, the region has seen an increase in internet penetration, leading to a greater need for storage solutions to support online services and applications.

Underlying macroeconomic factors: The economic growth in Southern Africa has led to an increase in the number of businesses and organizations in the region. This has resulted in a higher demand for storage solutions to store and manage data. Additionally, the region has experienced improvements in internet infrastructure, making it easier for businesses to access cloud storage services. The growing awareness of data security and the need to comply with data protection regulations have also contributed to the growth of the storage market in Southern Africa. In conclusion, the storage market in Southern Africa is witnessing significant growth and development due to increasing customer preferences for efficient and cost-effective storage solutions. The adoption of cloud storage and solid-state drives is on the rise, driven by the need for scalable and high-performance storage options. The growing technology sector and improved internet infrastructure in the region are also contributing to the growth of the storage market.

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.