The Middle East regions are witnessing digital transformation currently and is driving the storage market, according to Future Market Insights is expected to reach $6,537.6 million by 2025 from $1,475.9 million back in 2014 clocking aan average growth of 14.4% during the period.
The Middle East storage market is classified on the basis of its end-users. The commercial end-user segment was valued at $1,085.9 million in 2014 and is expected to expand at a CAGR of 14.3% during the forecast period and in the same period the residential end user segment is expected to expand at a higher CAGR of 14.7%.
The report primarily attributes the growth towards increasing presence of leading storage providers, such as IBM and Microsoft, in these regions, which offer services such as mobile integration, hybrid cloud storage and data analytics. Apart from IBM and Microsoft, the other key players in the market are VMware, HP Enterprise, NetApp, Open Text, Sandisk, Hitachi Data Systems, EMC and Nexenta Systems.
Emergence of the Internet of Everything (IoE), which in turn is expected to lead to the upsurge in the data produced, is expected to drive demand for enhanced enterprise storage solutions in the region.