Storage - Uzbekistan

Uzbekistan

Revenue in the Storage market is projected to reach US$52.44m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.06%, resulting in a market volume of US$74.18m by 2028.
The average Spend per Employee in the Storage market is projected to reach US$3.23 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 Uzbekistan has been experiencing steady growth in recent years, driven by customer preferences for reliable and secure data storage solutions. With the increasing digitization of businesses and the need to store and manage large amounts of data, the demand for storage solutions has been on the rise.

Customer preferences: Customers in Uzbekistan are increasingly looking for storage solutions that offer high capacity, scalability, and data security. They want to ensure that their data is stored in a reliable and secure manner, with minimal risk of data loss or unauthorized access. Additionally, customers are also seeking storage solutions that are cost-effective and provide efficient data management capabilities.

Trends in the market: One of the key trends in the storage market in Uzbekistan is the adoption of cloud storage solutions. Cloud storage offers several advantages such as scalability, flexibility, and cost-effectiveness, which are particularly attractive to businesses in Uzbekistan. As a result, many organizations are moving away from traditional on-premises storage solutions and opting for cloud-based storage services. Another trend in the market is the increasing use of solid-state drives (SSDs) for storage. SSDs offer faster data access speeds and better performance compared to traditional hard disk drives (HDDs). As a result, there has been a growing demand for SSDs in Uzbekistan, particularly in sectors such as gaming, media, and entertainment, where fast data access is crucial.

Local special circumstances: Uzbekistan has a rapidly growing IT sector, which is driving the demand for storage solutions. The government has been actively promoting the development of the IT industry and has implemented various initiatives to attract foreign investment in the sector. This has resulted in an increase in the number of IT companies and startups in Uzbekistan, which in turn has fueled the demand for storage solutions.

Underlying macroeconomic factors: The economic growth in Uzbekistan has been a key driver of the storage market. The country has been implementing economic reforms and attracting foreign investment, which has led to an increase in business activities and the need for storage solutions. Additionally, the growing middle class in Uzbekistan is also contributing to the demand for storage solutions, as individuals and households are increasingly using digital devices and generating more data. In conclusion, the storage market in Uzbekistan is witnessing growth due to customer preferences for reliable and secure data storage solutions. The adoption of cloud storage and solid-state drives are key trends in the market, driven by the need for scalability, flexibility, and improved performance. The local special circumstances, such as the growing IT sector and economic reforms, are further contributing to the growth of the storage market in Uzbekistan.

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.