The GCC and Levant data storage market was valued US$ 2,937.5 Mn in 2019 and expected to reach US$ 8,556.4 Mn by 2027.
Market Trends
Over the past 10 years, the total cost of storage has increased by about 7% per year. This surge in prices has been mainly attributed to operational costs (OPEX), while the cost of hardware (CAPEX) has been relatively flat. According to the ongoing trend, CAPEX is expected to rise further and account for a greater share of the total cost of ownership, because of the increasing functionalities in hardware and rise in demand for storage capacity
Aerospace and defense system designers seek storage solutions with reliability, encryption or other security features, compact size, high storage capacity and ability to withstand extreme temperature. Hence, hyper-convergence and software-defined networking form the ongoing trend in the aerospace and defense industry currently.
The banking and finance sectors are focusing more on data storage than marketing these days. BFSI firms are investing some of their marketing funds into new storage infrastructures, such as software-defined storage and hyper-converged infrastructure.
Gcc And Levant Data Storage Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients