Storage - Turkey

Turkey

Revenue in the Storage market is projected to reach US$121.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.73%, resulting in a market volume of US$176.60m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$3.50 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 Turkey has been experiencing significant growth in recent years, driven by several key factors.

Customer preferences: In Turkey, customers have shown a growing preference for storage solutions that are cost-effective, efficient, and scalable. They are increasingly looking for storage options that can handle large amounts of data, provide high performance, and offer advanced data management capabilities. Additionally, customers are also seeking storage solutions that are compatible with emerging technologies such as cloud computing and artificial intelligence.

Trends in the market: One of the major trends in the storage market in Turkey is the increasing adoption of cloud storage solutions. Cloud storage offers numerous benefits, including flexibility, scalability, and cost savings. Many businesses in Turkey are moving their data to the cloud to take advantage of these benefits and to ensure easy access to their data from anywhere at any time. Another trend in the market is the rising demand for flash storage solutions. Flash storage offers faster data access and lower latency compared to traditional hard disk drives. As the price of flash storage continues to decline, more businesses in Turkey are adopting this technology to improve their storage performance and enhance their overall IT infrastructure.

Local special circumstances: Turkey's strategic location between Europe and Asia makes it an attractive market for international companies. This has led to an increase in data centers and storage facilities in the country. The presence of these facilities has created opportunities for local businesses to access advanced storage solutions and technologies. Furthermore, the growing e-commerce industry in Turkey has also contributed to the demand for storage solutions. With the increasing number of online transactions and data generated by e-commerce platforms, businesses require robust storage systems to store and manage their data effectively.

Underlying macroeconomic factors: The growing economy of Turkey has played a significant role in the development of the storage market. As businesses expand and generate more data, the need for storage solutions increases. Additionally, the government's efforts to promote digital transformation and invest in infrastructure development have also contributed to the growth of the storage market. In conclusion, the storage market in Turkey is witnessing significant growth due to customer preferences for cost-effective and efficient storage solutions. The adoption of cloud storage and flash storage technologies, along with the growth of the e-commerce industry, are key trends driving the market. The strategic location of Turkey and the government's support for digital transformation are also contributing factors. As the economy continues to grow and businesses generate more data, the demand for storage solutions in Turkey is expected to further increase.

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.