GCC AND LEVANT DATA STORAGE MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics- Restraints

1. Limited options of remote storage management services are expected to hinder the GCC and Levant data storage market growth over the forecast period

Increasing competition in the IT industry has put immense pressure on businesses to increase returns at lower costs. Many organizations are focused on implementing cost-cutting measures such as decreasing the number of employees and outsourcing storage provisioning and monitoring. As a result of this, demand for remotely managed services has increased significantly with limited options available in the market. Thus, these factors are expected to hinder the market growth in the near future.

2. Slow responses offered by vendors to increasing demand is expected to hamper the GCC and Levant data storage market growth during the forecast period

Enterprises require vendors to respond quickly to their data storage requirements, in order to meet increasing demand for changing businesses and technological advancements. However, some of these enterprises are witnessing sluggish responses from vendors to increasing demand, which in turn, is expected to restrict growth of the GCC and Levant storage market growth during the forecast period.

Market Opportunities

1. Introduction of IoT and connected devices can present major business opportunities

According to Coherent Market Insights’ analysis, there are around 10 billion connected devices across the globe, which includes smartphones and laptops. According to the same source, this number is expected to triple in the next five years. Thus, the need for storage solutions that would load, reload, and identify relevant data in real-time is increasing. Moreover, the consumer storage devices such as HDD, SDD, and memory cards are expected to witness significant demand during the forecast period. As a result of this, enterprise data storage vendors would encounter robust demand for virtual storage cloud platforms from businesses that need to process terabytes of customer data. Thus, the advent of Internet of Things (IoT) is expected to present a huge opportunity for data storage vendors in the near future.

2. Massive shift towards converged infrastructure solutions from traditional can provide lucrative growth opportunities

The converged infrastructure market has become the go-to-market for a majority of IT infrastructure developers/service providers. A massive shift from conventional to converged infrastructure solutions offer major growth opportunities for enterprise data storage vendors. Moreover, converged infrastructure solutions minimize compatibility issues and streamline the process of managing servers, networking devices, and storage systems at minimal costs.