- Increased investments in infrastructure is a key factor driving growth.
- Enterprise storage is projected to be the most attractive segment in the GCC data storage market.
- UAE followed by Qatar are the two leading data storage markets within the GCC data storage market.
The MEA data storage market was valued at $2.79 billion in 2016 and is projected to reach $8.43 billion by 2025 end. Sales revenue is expected to increase at a CAGR of 13.6% during the forecast period i.e. 2017–2025. According to a new report published by Future Market Insights titled “Data Storage Market: Middle East & Africa Industry Analysis (2012-2016) and Opportunity Assessment (2017–2025),” major factors responsible for the growth of the data storage market in MEA include increased investments in infrastructure, a notable shift in data centre investments from being server centric to more data and storage centric, and increased adoption of entry-level and mid-range storage devices.
MEA Data Storage Market: Prominent Trends
- Adoption of hybrid cloud storage solutions by small and medium enterprises and software defined storage solutions by large enterprises
- Demand changes in OPEX and CAPEX
- Emergence of enterprise flash controllers
- Demand for secure data storage solutions in defense, aerospace and BFSI verticals
- Adoption of cloud based data storage solutions with hyper-converged infrastructure
The MEA data storage market covers consumer data storage devices and enterprise data storage solutions. For each of these categories, the market has been segmented on the basis of end user, vertical and region. On the basis of storage type, the GCC data storage market is segmented into consumer storage and enterprise storage. In terms of revenue, enterprise storage is projected to be the most attractive segment in the GCC data storage market during the forecast period. The enterprise storage segment is also expected to register high Y-o-Y growth rates throughout the forecast period and is expected to expand at a robust CAGR between 2017 and 2025. On the basis of end user, the GCC data storage market is segmented into commercial and residential segments. The residential segment was valued at $467.8 million in 2017 and is expected to witness a CAGR of 14.7% during the forecast period.
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The GCC region is segmented into Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE. In terms of revenue, UAE followed by Qatar are the two leading data storage markets within the GCC data storage market. UAE is the fastest growing regional data storage market within GCC with a growth rate of 15.7% during 2017 – 2025. In terms of revenue, UAE is projected to be the most attractive market in the GCC data storage market during the forecast period and is also expected to register high Y-o-Y growth rates throughout the period of assessment.
IBM Corporation, Microsoft Corporation, VMware, Inc., Hewlett Packard Enterprise Co., NetApp Inc., Open Text Corp., SanDisk Corporation, Hitachi Data Systems, EMC Corporation (Dell Inc.), and Nexenta Systems are some of the key players operating in the MEA data storage market.