Storage - Chile

Chile

Revenue in the Storage market is projected to reach €170.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.41%, resulting in a market volume of €243.70m by 2029.
The average Spend per Employee in the Storage market is projected to reach €17.68 in 2024.
In global comparison, most revenue will be generated in the United States (€21,960m in 2024).

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

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Analyst Opinion

The Storage Market in the Data Center Market in Chile has seen a slight decline in growth rate due to factors such as saturation in the market and a shift towards cloud-based storage solutions. However, the market is still experiencing steady growth due to the increasing demand for data storage and management solutions in various industries.

Customer preferences: As internet usage and data storage needs continue to rise in Chile, the Storage Market within the Data Center Market is experiencing a shift towards cloud-based solutions. This trend is driven by the increasing demand for remote access and management of data, as well as the need for cost-effective and scalable storage options. Additionally, with the growing adoption of digital technologies among businesses and individuals, there is a growing preference for secure and efficient data storage solutions.

Trends in the market: In Chile, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud storage solutions, as more businesses shift towards remote work and digital operations. This trend is expected to continue as the country's digital infrastructure improves and data security concerns increase. Industry stakeholders can expect to see increased investment in data center facilities and technologies, as well as a greater focus on data privacy and compliance. Additionally, the adoption of hybrid cloud solutions is on the rise, enabling businesses to optimize their storage needs and reduce costs.

Local special circumstances: In Chile, the Storage Market within the Data Center Market is heavily influenced by the country's unique geographical location. Being situated in a seismically active region, data centers are designed and built to withstand earthquakes and other natural disasters. Additionally, Chile's strict data privacy laws have led to the adoption of advanced security measures in data centers, making it a preferred location for storing sensitive data. The country's growing digital economy and increasing demand for cloud services also contribute to the growth of the Storage Market within the Data Center Market in Chile.

Underlying macroeconomic factors: The Storage Market within the Data Center Market in Chile is strongly influenced by macroeconomic factors such as the country's overall economic health, government fiscal policies, and global economic trends. As Chile continues to experience steady economic growth and stability, the demand for data storage solutions within the data center market is also expected to increase. Furthermore, supportive government policies and investments in technological infrastructure are creating a favorable environment for the growth of the storage market in Chile. Additionally, the increasing adoption of cloud computing and big data analytics in various industries is driving the need for efficient storage solutions, further contributing to the growth of the 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.