The Middle East & Africa data storage market is forecast to total US$ 5.65 Bn 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 Bn by 2025.
According to a new report published by Future Market Insights titled “Data Storage Market: Middle East & Africa Industry Analysis (2017-2021) and Opportunity Assessment (2022–2025),”
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.
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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 defence, aerospace and BFSI verticals
- Adoption of cloud based data storage solutions with hyper-converged infrastructure
MEA Data Storage Market: Segmental Analysis
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 2022 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 US$ 467.8 Mn in 2017 and is expected to witness a CAGR of 14.7% during the forecast period.
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MEA Data Storage Market: Forecast by Region
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.
Competitive Landscape
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.
- In April 2020, Amazon Web Services (AWS) announced the opening of the AWS Cape Town, Africa Region to expand data storage offerings. The new AWS infrastructure regions will deliver the highest levels of security, compliance and data storage.
- In November 2021, Oracle and Orange signed a partnership agreement in West Africa aimed at encouraging cloud-led digital transformation. Under the agreement, the two companies have come together to offer cloud services for public sector organizations and enterprises in West Africa, starting with Senegal and the Ivory Coast.
- In November 2020, Moro Hub, a wholly-owned subsidiary of Dubai Electricity and water Authority (DEWA), collaborated with IBM to launch IBM power systems as a cloud service in Dubai, UAE. The new cloud service will provide improved performance and high data processing speeds.
- In April 2021, IBM launched advanced storage solutions designed to simplify data accessibility & availability across hybrid clouds
- In 2021, oracle opened a new cloud region in Abu Dubai to offer improved storage capacity to regional enterprises amid soaring demand. The new region will make it easier for businesses to increase performance, protect data, and get access to Oracle’s full array of cloud services.
MEA Data Storage Market: Key Players
- IBM Corporation
- Microsoft Corporation
- VMware, Inc.
- Hewlett Packard Enterprise Co.
- NetApp Inc.
- Open Text Corp.
- SanDisk Corporation
- Nexenta Systems
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MEA Data Storage Market by CategoryBy Region:
- GCC
- Levant
- Africa
By Storage Type:
- Consumer Storage
- Enterprise Storage
By End User:
- Commercial
- Residential
By Vertical:
- BFSI
- Defence and Aerospace
- Education
- Government
- Healthcare
- Telecom & IT
- Others
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