Storage - Sweden

Sweden

Revenue in the Storage market is projected to reach €0.53bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.90%, resulting in a market volume of €0.74bn by 2029.
The average Spend per Employee in the Storage market is projected to reach €93.14 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 Storage Market within the Data Center Market in Sweden has been experiencing steady growth, driven by factors such as rising demand for data storage solutions, increasing awareness about data security, and the convenience of online storage services. This average growth rate is being impacted by the growing need for efficient and secure data management in various industries, as well as the increasing adoption of cloud computing and big data analytics.

Customer preferences: With the increasing amount of data being generated and stored, the demand for reliable and secure storage solutions in the Data Center Market is on the rise. This has led to a shift towards cloud-based storage options, as well as the adoption of advanced technologies such as solid-state drives (SSD) and software-defined storage (SDS). Additionally, there is a growing trend towards sustainability and energy efficiency in data centers, leading to the use of renewable energy sources and more efficient cooling systems.

Trends in the market: In Sweden, the Storage Market within the Data Center Market is seeing a surge in demand for cloud-based storage solutions. This trend is driven by the increased adoption of cloud computing and the need for more efficient and scalable storage infrastructure. Additionally, there is a growing focus on data privacy and security, leading to the adoption of advanced storage technologies like software-defined storage. These trends are significant as they offer cost-effective and flexible storage options for businesses. However, they also pose challenges for traditional storage vendors who may struggle to keep up with the pace of innovation in this market.

Local special circumstances: In Sweden, the Storage Market within the Data Center Market is heavily influenced by the country's commitment to sustainability and renewable energy sources. This has led to the development of innovative green data center solutions, such as using excess heat from data centers to warm homes. Additionally, Sweden's strict data privacy laws have made it a popular location for data storage and backup services, driving demand for storage solutions. The country's advanced digital infrastructure and high internet penetration rates also contribute to the growth of the storage market within the data center market.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market in Sweden is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Sweden's strong economic health and supportive regulatory environment have fostered the development of a robust data center market, attracting significant investments from both domestic and international companies. The increasing demand for data storage solutions, driven by the growing volume of digital data and the proliferation of cloud-based services, is expected to further boost the growth of the Storage Market within the Data Center Market in Sweden.

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.