[131 Pages Report] The data storage market in the Middle East & Africa is forecast to total US$ 5.65 Billion in 2022. With increasing penetration of modern technologies, the overall market is projected to grow at a prolific CAGR of 14.3% between 2022 and 2025, surpassing a valuation of US$ 8.43 Billion by 2025.
| Attribute | Details |
|---|---|
| MEA Data Storage Market Estimated Size in 2022 | US$ 5.65 Billion |
| MEA Data Storage Market value-based CAGR (2022 to 2028) | 14.3% |
| Projected MEA Data Storage Market Size in 2025 | US$ 8.43 Billion |
Digitalization has ushered a new wave of innovation in data storage solutions. Cloud based storage is starting to gain traction across major enterprises in MEA countries. Today, MEA data storage represents around 5% of the global data center market.
Regionally, the Gulf Cooperation Council (GCC) will continue to dominate the MEA data storage market, accounting for a major share of 58.8% in 2022. Increasing government support, rising penetration of internet and growing demand for advanced data storage solutions are some of the factors driving the market across GCC.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 13.3% |
| H1,2022 Projected (P) | 13.5% |
| H1,2022 Outlook (O) | 13.2% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 30 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 10 ↓ |
Data storage refers to optical, magnetic or mechanical media that track records and protects digital details for future and proceeding operations. One of the recent trends in the MEA region data storage market is it is broadly popular and in demand because of the increasing storage capacity in terms of petabyte and terabyte of big data produced by the organizations.
It is broadly utilized because it can control an enormous amount of data and keep scaling to carry on growth and can offer input and output data to analytical framework for analysis.
As per the FMI analysis, the BPS values analyzed in the MEA data storage market in H1,2022-(O) (Outlook) over H1,2022 (P) projected reflects a decline of -30 units.
The major reason for the decline of BPS values is, in the recent years, ransomware attacks have increased in number, and there has been a growing number of security breaches. These cyber-attacks have generated issues throughout a whole organization in the Middle East and Africa region.
The BPS change: H1, 2022 (O) over H1,2021 (A) reflects a decline of -10 units. Key reason for this decline of BPS values is, implementation of compulsory rules and regulation impose by government on utilizing cloud services and growing cyberattacks are major factor restraining the development of MEA data storage market.
Thus, growing cyber-attacks and implementation of mandatory rules and regulations by the government are restraining the MEA data storage market growth.
The MEA data storage market is set to register an impressive CAGR of 14.3% between 2022 and 2025 in comparison to 12.3% CAGR registered from 2017 to 2021.
As per FMI, surging investments from telecom operators and financial institutions, increasing penetration of core technologies such as artificial intelligence (AI) and internet of things (IoT), proliferation of smartphones and laptops and consistent decline in the prices of consumer storage devices such as HDD and SSD are some of the factors driving the MEA data storage market.
Data storage has become an indispensable part of modern data centers. It enables enterprises to store data and create database. Amid rising number of internet users across MEA regions, the volume of digital data generated from various digital platforms is growing rapidly. As a result, demand for better data storage solutions is skyrocketing and the trend is likely to continue in the future.
Number of data centers across MEA regions is increasing at a significant rate. Companies are increasingly adopting cloud-based technology to keep up pace with the changing world. Cloud based technology with its cost-effective and hassle-free nature is taking over the spotlight.
Increasing investment in big data, IoT and other cloud services is triggering the growth of MEA data storage market. Moreover, technological advancements in information and social technology are expected to boost the growth of MEA data storage market during the forecast period.
Growing amount of data across enterprises have prompted experts to shift from conventional architecture to scale-out architecture such as storage virtualization and hyper-converged infrastructure.
Digitization of information in residential and commercial places along with surging usage of mobile computing devices such as laptops smartphones, and tablets, is significantly contributing to the market growth. Growing popularity of e-commerce and increasing efforts of local governments to develop smart cities will create lucrative growth avenues within MEA data storage market.
Moreover, leading multinational companies are forming their bases in attractive MEA markets such as Dubai and Saudi Arabia. This will aid the growth of data storage market. Spurred by the aforementioned factors, the MEA data storage market is set to expand 1.5X through 2025.
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Increasing adoption of core technologies such as artificial intelligence (AI), Machine learning and internet of things (IoT) has ushered in a new light into MEA data storage market. Due to rising penetration of these technologies, massive amount of data gets generated across majority of enterprises.
Industries such as healthcare, aerospace, retail and telecom are embracing these core technologies to enhance their mechanism. These technologies help in saving money, time and effort to a large extent, and thus enables these industries to have more control on storage platforms.
Adoption of digital devices such as smartphones and laptops is surging rapidly across MEA countries. This in turn creates huge demand for storage solutions that would load, reload, and identify relevant data in real-time.
Next generation data storage platforms are becoming standard solutions for the storage of huge amount of data. Thus, increasing penetration of internet and other core technologies across the MEA regions will spur the growth of the market.
Over the last few years, cloud and other storage breakthroughs have transformed the whole storage mechanism. They have become the most convenient and efficient methods of storing data online.
Introduction of these cloud-based storage platforms has enabled the enterprises to store massive amounts of information at affordable prices. Cloud storage offers various attractive features. It allows multiple users to collaborate with the common file.
Now companies don’t need to purchase or build expansive physical storage infrastructures. They can simply store data in cloud-based storage and can retrieve it when required. They can store, access and manage their data remotely.
Moreover, cloud service providers such as Microsoft and IBM are expanding their presence across MEA regions. This will boost the adoption of cloud-based storage across multiple verticals.
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Implementation of mandatory rules and regulations by government on using cloud services and increasing cyberattacks are some of the factors restraining the growth of MEA data storage market.
Data Privacy has become an important aspect of almost all the leading enterprises of the world. Adoption of cloud-based storage has left the data vulnerable to cyberattacks and phishing. As a result, many companies refrain from using these data storage platforms.
Moreover, lack of modern facilities and low penetration of internet across some peripheral regions of Africa also limits the market growth.
As per FMI, UAE will continue to dominate the MEA data storage market, accounting for a major share in 2022. Growth in the country is attributed to increasing cloud adoption, smart city development and the rising penetration of internet, modern technologies and digital devices.
The recent economic boom has changed the whole scenario in GCC countries such as UAE and Saudi Arabia. Today many international firms and businesses are showing keen interest in expanding their businesses across these lucrative countries.
Various IT & telecom companies have already strengthened their base in regions such as Dubai. Moreover, large investments are being directed by local government towards the development and progress of their country. This is in turn is creating plethora of opportunities for the key market players.
GCC data storage market lead by UAE is forecast to account for the largest share of 58.8% in 2022.
Israel is emerging as the world’s hottest technology hub due to increasing penetration of core technologies and heavy presence of leading high-tech companies.
Majority of the companies across Israel are moving from on-premises to cloud and colocation data centers. Adoption of cloud-based storage is gaining traction.
The government of Israel is launching various initiatives to enhance the country's cloud service platforms. For instance, in 2021 the Israeli government officially signed a cloud services deal with Google and Amazon Web Services (AWS) under the Nimbus Project to provide cloud services for its military and Public Sector Units. This is spurring the growth of data storage market in the country.
Amid increasing efforts of government and heavy presence of leading high-tech companies, a market share of 17.5% has been predicted for Levant data storage market, led by the Israel.
Africa has always been the prime focus of attention for world leaders. Large amounts have been invested by various government and private organizations to develop the African region and provide the best facilities to its people.
For instance, in 2020 the U.S International Development Finance Corporation joined a push into Africa’s data storage market with a $300 million investment in the expansion of Africa Data Centres, the data storage arm of Johannesburg-based Liquid Telecom.
With rising demand for long term storage and increasing investments for the development of advanced infrastructure, South Africa is anticipated to emerge as a lucrative market for data storage.
Moreover, increasing adoption of smartphones, growing popularity of internet and rising penetration of leading multinational technology companies will boost the growth of data storage market across the country.
Owing to the aforementioned factors, a healthy share of 23.8% is projected for the Africa data storage market, spearheaded by South Africa by FMI.
BSFI is one of the leading industries in the modern world. The BSFI industry generates large amount of consumer data which needs to be stored and protected. As a result, demand for data storage platforms across BSFI sector is rising at a significant pace.
Today banking and finance sectors are focusing more on data storage these than marketing. They are increasingly investing large amounts for building storage infrastructures such as software-defined storage and hyper-converged infrastructure.
FMI predicts BSFI segment to register strong growth amid soaring demand for better data storage solutions.
Based on storage type, the MEA data storage market is segmented into consumer storage and enterprise storage.
As per FMI’s latest report, enterprise storage will emerge as the most attractive segment in the MEA data storage market during the forecast period. This is attributed to the rising adoption of cloud-based storage and increasing demand for secure hybrid storage in aerospace and defense sectors.
Aerospace and defense system designers usually opt for storage solutions with better features including reliability, compact size, high storage capacity and ability to withstand extreme temperature.
The enterprise storage segment is also expected to register a robust year-on-year (Y-o-Y) growth rates throughout the forecast period.
In terms of end user, the commercial sector is anticipated to experience significant demand for data storage in the MEA region. The commercial segment accounted for over 70% market share in 2017.
Increasing need for storing enormous amount of data generated across the large and middle & small enterprises is a major factor fueling the growth of the segment.
Leading players operating in the MEA data storage market are expanding their footprint by means of offering advanced products and services. They have adopted various strategies such as mergers, partnerships and acquisitions to dominate the market.
| Attribute | Details |
|---|---|
| Forecast Period | 2017 to 2021 |
| Historical Data Available for | 2022 to 2025 |
| Market Analysis | Units for Volume and US$ Million for Value |
| Key Regions Covered | GCC; Levant and Africa |
| Key Countries Covered | UAE, Kuwait, Saudi Arabia, Oman, Qatar Bahrain, Turkey, Israel, Egypt, Lebanon Jordan, Cyprus and others |
| Key Segments Covered | Storage Type, Vertical, End User and Region |
| Key Companies Profiled | IBM Corporation; Microsoft Corporation; VMware, Inc.; Hewlett Packard Enterprise Co.; NetApp Inc.; Open Text Corp.; SanDisk Corporation; Hitachi Data Systems; EMC Corporation (Dell Inc.); Nexenta Systems |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The MEA data storage market is estimated to reach a valuation of US$ 5.65 Bn in 2022.
As per FMI, the MEA data storage market is forecast to register a stellar CAGR of 14.3% between 2022 and 2025.
The MEA data storage market grew at a CAGR of 12.3% between 2017 and 2021.
Increasing penetration of modern technologies, growing popularity of cloud-based storage and increasing investments in data center platforms are some of the key trends shaping the market growth.
The GCC data storage market demand is set to account for 58.8% share in 2022.
The data storage market in Africa is projected to account for 23.8% by 2022.
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 leading players operating in the MEA data storage market.
1. MEA Data Storage Market- Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Overview
4.1. Introduction
4.1.1. MEA Data Storage Market Definition
4.1.2. MEA Data Storage Market Taxonomy
4.2. MEA Data Storage Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Trends
4.3. Value Chain Analysis
4.4. MEA Data Storage Market Forecast, 2021-2025
4.4.1. MEA Data Storage Market Size (Value) Forecast
4.4.1.1. Y-o-Y Growth Projections
4.4.1.2. Absolute $ Opportunity
4.5. MEA Data Storage Market Snapshot (2021)
4.5.1. Market Share By Storage Type
4.5.2. Market Share By End User
4.5.3. Market Share By Regions
5. GCC Data Storage Market Analysis
5.1. Introduction
5.1.1. Y-o-Y Growth Projections, By Country
5.1.2. Basis Point Share (BPS) Analysis, By Country
5.2. GCC Data Storage Market Forecast
5.2.1. Market Value Forecast By Storage Type
5.2.1.1. Consumer Storage
5.2.1.1.1. Hard Disk Drive (HDD)
5.2.1.1.2. Memory Card
5.2.1.1.3. Optical Disk
5.2.1.1.4. Solid State Devices
5.2.1.1.5. USB Flash Drives
5.2.1.2. Enterprise Storage
5.2.1.2.1. Cloud Based Storage
5.2.1.2.2. Flash Storage
5.2.1.2.3. Hard Disk Drive (HDD)
5.2.1.2.4. Hyper-Converged Infrastructure
5.2.1.2.5. Software Defined Storage
5.2.2. Market Volume Forecast By Storage Type
5.2.2.1. Consumer Storage
5.2.2.1.1. Hard Disk Drive (HDD)
5.2.2.1.2. Memory Card
5.2.2.1.3. Optical Disk
5.2.2.1.4. Solid State Devices
5.2.2.1.5. USB Flash Drives
5.2.2.2. Enterprise Storage
5.2.2.2.1. Flash Storage
5.2.2.2.2. Hard Disk Drive (HDD)
5.2.3. HDD Market Value Forecast By Form Factor
5.2.3.1. Consumer Storage
5.2.3.1.1. Inch HDD
5.2.3.1.2. Inch HDD
5.2.3.2. Enterprise Storage
5.2.3.2.1. Inch HDD
5.2.3.2.2. Inch HDD
5.2.4. HDD Market Volume Forecast By Form Factor
5.2.4.1. Consumer Storage
5.2.4.1.1. Inch HDD
5.2.4.1.2. Inch HDD
5.2.4.2. Enterprise Storage
5.2.4.2.1. Inch HDD
5.2.4.2.2. Inch HDD
5.2.5. Market Value Forecast By End User
5.2.5.1. Commercial
5.2.5.1.1. Large Enterprises
5.2.5.1.2. SMBs
5.2.5.2. Residential
5.2.6. Market Value Forecast By Verticals
5.2.6.1. BFSI
5.2.6.2. Defense and Aerospace
5.2.6.3. Education
5.2.6.4. Government
5.2.6.5. Healthcare
5.2.6.6. Telecom & IT
5.2.6.7. Others
5.2.7. Data Storage Market Attractiveness Analysis
5.2.7.1. By Region/Country
5.2.7.2. By Storage Type
5.2.7.3. By End User
5.2.8. Drivers & Restraints: Impact Analysis
6. Levant Data Storage Market Analysis
6.1. Introduction
6.1.1. Y-o-Y Growth Projections, By Country
6.1.2. Basis Point Share (BPS) Analysis, By Country
6.2. Levant Data Storage Market Forecast
6.2.1. Market Value Forecast By Storage Type
6.2.1.1. Consumer Storage
6.2.1.1.1. Hard Disk Drive (HDD)
6.2.1.1.2. Memory Card
6.2.1.1.3. Optical Disk
6.2.1.1.4. Solid State Devices
6.2.1.1.5. USB Flash Drives
6.2.1.2. Enterprise Storage
6.2.1.2.1. Cloud Based Storage
6.2.1.2.2. Flash Storage
6.2.1.2.3. Hard Disk Drive (HDD)
6.2.1.2.4. Hyper-Converged Infrastructure
6.2.1.2.5. Software Defined Storage
6.2.2. Market Volume Forecast By Storage Type
6.2.2.1. Consumer Storage
6.2.2.1.1. Hard Disk Drive (HDD)
6.2.2.1.2. Memory Card
6.2.2.1.3. Optical Disk
6.2.2.1.4. Solid State Devices
6.2.2.1.5. USB Flash Drives
6.2.2.2. Enterprise Storage
6.2.2.2.1. Flash Storage
6.2.2.2.2. Hard Disk Drive (HDD)
6.2.3. HDD Market Value Forecast By Form Factor
6.2.3.1. Consumer Storage
6.2.3.1.1. Inch HDD
6.2.3.1.2. Inch HDD
6.2.3.2. Enterprise Storage
6.2.3.2.1. Inch HDD
6.2.3.2.2. Inch HDD
6.2.4. HDD Market Volume Forecast By Form Factor
6.2.4.1. Consumer Storage
6.2.4.1.1. Inch HDD
6.2.4.1.2. Inch HDD
6.2.4.2. Enterprise Storage
6.2.4.2.1. Inch HDD
6.2.4.2.2. Inch HDD
6.2.5. Market Value Forecast By End User
6.2.5.1. Commercial
6.2.5.1.1. Large Enterprises
6.2.5.1.2. SMBs
6.2.5.2. Residential
6.2.6. Market Value Forecast By Verticals
6.2.6.1. BFSI
6.2.6.2. Defense and Aerospace
6.2.6.3. Education
6.2.6.4. Government
6.2.6.5. Healthcare
6.2.6.6. Telecom & IT
6.2.6.7. Others
6.2.7. Data Storage Market Attractiveness Analysis
6.2.7.1. By Region/Country
6.2.7.2. By Storage Type
6.2.7.3. By End User
6.2.8. Drivers & Restraints: Impact Analysis
7. Africa Data Storage Market Analysis
7.1. Introduction
7.1.1. Y-o-Y Growth Projections, By Country
7.1.2. Basis Point Share (BPS) Analysis, By Country
7.2. Africa Data Storage Market Forecast
7.2.1. Market Value Forecast By Storage Type
7.2.1.1. Consumer Storage
7.2.1.1.1. Hard Disk Drive (HDD)
7.2.1.1.2. Memory Card
7.2.1.1.3. Optical Disk
7.2.1.1.4. Solid State Devices
7.2.1.1.5. USB Flash Drives
7.2.1.2. Enterprise Storage
7.2.1.2.1. Cloud Based Storage
7.2.1.2.2. Flash Storage
7.2.1.2.3. Hard Disk Drive (HDD)
7.2.1.2.4. Hyper-Converged Infrastructure
7.2.1.2.5. Software Defined Storage
7.2.2. Market Volume Forecast By Storage Type
7.2.2.1. Consumer Storage
7.2.2.1.1. Hard Disk Drive (HDD)
7.2.2.1.2. Memory Card
7.2.2.1.3. Optical Disk
7.2.2.1.4. Solid State Devices
7.2.2.1.5. USB Flash Drives
7.2.2.2. Enterprise Storage
7.2.2.2.1. Flash Storage
7.2.2.2.2. Hard Disk Drive (HDD)
7.2.3. HDD Market Value Forecast By Form Factor
7.2.3.1. Consumer Storage
7.2.3.1.1. Inch HDD
7.2.3.1.2. Inch HDD
7.2.3.2. Enterprise Storage
7.2.3.2.1. Inch HDD
7.2.3.2.2. Inch HDD
7.2.4. HDD Market Volume Forecast By Form Factor
7.2.4.1. Consumer Storage
7.2.4.1.1. Inch HDD
7.2.4.1.2. Inch HDD
7.2.4.2. Enterprise Storage
7.2.4.2.1. Inch HDD
7.2.4.2.2. Inch HDD
7.2.5. Market Value Forecast By End User
7.2.5.1. Commercial
7.2.5.1.1. Large Enterprises
7.2.5.1.2. SMBs
7.2.5.2. Residential
7.2.6. Market Value Forecast By Verticals
7.2.6.1. BFSI
7.2.6.2. Defense and Aerospace
7.2.6.3. Education
7.2.6.4. Government
7.2.6.5. Healthcare
7.2.6.6. Telecom & IT
7.2.6.7. Others
7.2.7. Data Storage Market Attractiveness Analysis
7.2.7.1. By Region/Country
7.2.7.2. By Storage Type
7.2.7.3. By End User
7.2.8. Drivers & Restraints: Impact Analysis
8. Competition Landscape
8.1. Competition Dashboard
8.2. Company Profiles
8.2.1. IBM Corporation
8.2.1.1. Revenue
8.2.1.2. Products/Brand Offerings
8.2.1.3. Company Highlights
8.2.2. Microsoft Corporation
8.2.3. VMware, Inc.
8.2.4. Hewlett Packard Enterprise Co.
8.2.5. NetApp Inc.
8.2.6. Open Text Corp.
8.2.7. SanDisk Corporation
8.2.8. Hitachi Data Systems
8.2.9. EMC Corporation (Dell Inc.)
8.2.10. Nexenta Systems
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Middle East & Africa Data Storage Market
