Storage - Australia

Australia

Revenue in the Storage market is projected to reach €0.74bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.85%, resulting in a market volume of €1.08bn by 2029.
The average Spend per Employee in the Storage market is projected to reach €50.74 in 2024.
In global comparison, most revenue will be generated in the United States (€22,190m in 2024).

Key regions: United Kingdom, Brazil, India, China, Indonesia

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Analyst Opinion

The Data Center Storage Market in Australia is facing a negligible decline in growth rate due to factors such as competition, slowing economy, and saturation in the market. Despite this, the market is still expected to experience some growth due to the increasing need for data storage and the shift towards cloud-based solutions.

Customer preferences: The demand for cloud-based storage solutions has been steadily increasing in Australia, driven by the growing adoption of remote work and online learning. As a result, data centers are prioritizing the expansion of their storage capabilities to meet the needs of businesses and individuals alike. This trend is also influenced by the rise of digital media and the need for reliable data storage solutions for large files. Additionally, with the increasing focus on data privacy and security, there is a growing preference for locally-based data centers that can ensure compliance with Australian regulations.

Trends in the market: In Australia, the Storage Market within the Data Center Market is seeing a rise in demand for cloud-based storage solutions. This trend is driven by the increasing adoption of cloud computing and the need for scalable and cost-effective storage options. Additionally, there is a growing trend of using software-defined storage (SDS) solutions, which offer greater flexibility and efficiency. These trends are significant as they enable businesses to store and manage their data more efficiently, leading to cost savings and improved performance. However, this also poses challenges for industry stakeholders, as they need to keep up with the constantly evolving technology and ensure data security in the cloud environment.

Local special circumstances: In Australia, the Storage Market within the Data Center Market is heavily influenced by government regulations and environmental factors. The country's strict data privacy laws and focus on sustainability have led to the adoption of innovative storage solutions, such as renewable energy-powered data centers. Additionally, Australia's vast and sparsely populated geography has resulted in the development of remote data storage facilities to support businesses in rural areas.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market in Australia is also influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in digital infrastructure. Australia's strong economic health and stable fiscal policies have created a favorable environment for data center investments. Additionally, the increasing adoption of cloud computing and rising demand for data storage are driving the growth of the storage market in Australia. Furthermore, the country's growing population and increasing digitalization across industries are expected to fuel the demand for data center storage solutions.

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.