Future Market Insights, a leading research company published the market report on Storage Market in Middle East said the Middle East storage market was valued at $1,475.9 million in 2014 and is expected to register a CAGR of 14.4% from 2015 to 2025.
Growth of the Middle East storage market is primarily driven by declining prices of consumer storage devices and advancements in information and social technology.
On the basis of application, the storage market is segmented into consumer storage devices and enterprise storage. The consumer storage segment is further sub-segmented into HDD, SSD, memory card, optical disk and USB flash drive.
The enterprise storage segment is further sub-segmented into flash storage and HDD, cloud based storage, software-defined storage and hyper-converged infrastructure.
The cloud-based storage sub-segment is expected to expand at the highest CAGR of 19.1% during the forecast period in terms value.
