GCC and Levant Data Storage Market Analysis | Coherent Market Insights

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GCC AND LEVANT DATA STORAGE MARKET ANALYSIS

• GCC and Levant Data Storage Market, By
  Applications (Consumer Data Storage Devices (Hard
  Disk Drive (HDD), Solid State Devices (SSD),
  Memory Cards, Optical Disk, USB Flash Drives),
  Enterprise Data Storage Devices (Flash Storage
  and Hard Disks, Cloud-based Storage,
  Software-defined Storage and Hyper-converged
  Infrastructure)), By End Users (Residential and
  Commercial (SME Enterprise, Large Enterprise)),
  By Industry Verticals (BFSI, Healthcare,
  Government, Telecom and IT, Defense and Aerospace
  and Education) and By Regions (GCC (UAE, Kuwait,
  Saudi Arabia, Oman, Qatar and Bahrain) and Levant
  (Turkey, Israel, Egypt, Lebanon, Jordan, Cyprus
  and Rest of Levant) - Size, Share, Outlook, and
  Opportunity Analysis, 2019 2027

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• 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

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Market Drivers

• Technological advancements in information and
  social technology are expected to drive growth of
  the GCC and Levant Data storage data market
  during the forecast period
• Many business enterprises are focused on data
  centers and services instead of duplication and
  social technology, in order to manage big data.
  However, growing amounts of data across
  enterprises have made these technologies
  inadequate in meeting desired requirements. Thus,
  business enterprises are rapidly shifting towards
  scale-out architecture such as storage
  virtualization and hyper-converged infrastructure
  from conventional architecture. As a result of
  this, enterprises can avail more improved and
  scalable platform, which is also cost-effective.
  Moreover, increasing demand for smartphones and
  IoT devices combined with high growth of social
  media channels has increased the demand for
  additional storage. Thus, these factors are
  expected to drive growth of the market during the
  forecast period.

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• High growth of cloud computing is expected to
  propel the GCC and Levant data storage market
  growth over the forecast period
• Cloud computing has received significant
  traction in the recent past since it is
  cost-effective and hassle-free for storage
  facilities. In 2013, NetApp, Inc. reported that
  its revenue from cloud providers doubled.
  Moreover, NetApp announced that GCC and Levantly,
  over 200 cloud services were based on its
  technology. EMC Corporation is also targeting the
  cloud storage market aggressively. Therefore,
  these factors are expected to propel the GCC and
  Levant data storage market growth in the near
  future.
• GCC Countries dominated the GCC and Levant data
  storage market in 2019, accounting for 77.1
  share in terms of value, followed by Levant
  Countries.

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Market Restraints

• 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.
• 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.

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Market Opportunities

• 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.
• 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.

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Market Trends

• Growing demand for changes in OPEX and CAPEX
  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
• Rising demand for secure hybrid storage in
  defense and aerospace 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.
• Increasing use of data storage in the BFSI sector
  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.

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Segment information

• In GCC and Levant data storage market, by
  application segment, the Enterprise Data Storage,
  sub-segment dominated the GCC and Levant market
  in 2019, accounting for 83.6 share in terms of
  value, followed by Consumer Data Storage

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Regulations

• UAE regulations
• On February 23, 2013, a new competition law
  (Federal Law No. 4 of 2012), The Competition
  Law was implemented in the UAE. The law pursues
  to regulate market behavior, particularly in
  relation to misuse of merger control, dominant
  position and regulation of restrictive
  agreements.
• In January 2015, the UAE Cabinet issued
  implementing regulations relating to the
  Competition Law (Cabinet Decision No. 37 of 2014
  (the Regulations), which came into force on
  October 27, 2014. 
• The Merger Law
• Applications for exemptions and merger approvals
  along with certain specified documents should be
  submitted to the competition department of the
  UAE Ministry of Economy (the Department). The UAE
  Minister of Economy needs to reach a conclusion
  within 90 days of notifying the respective
  parties of the receipt of the application. This
  period can be extended by a further 45 days.

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Value Chain Analysis
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Competitive Section

• Key players operating in the GCC and Levant data
  storage market are Nexenta Systems, IBM
  Corporation, EMC Corporation (Dell Inc.),
  Microsoft Corporation, Hitachi Data Systems
  (Hitachi Ltd), VMware, Inc., Sandisk Corporation,
  Hewlett Packard Enterprise Co., Open Text Corp.,
  DataDirect Networks (DDN), and NetApp Inc.

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Key Developments

• Major companies in the market are focused on
  mergers and acquisitions, in order to enhance the
  market presence. For instance, in May 2019,
  DataDirect Networks (DDN), a U.S.-based cloud
  management company, acquired Nexenta Systems, a
  software-defined storage (SDS) provider.
• Key players in the market are involved in product
  launches, in order to expand the product
  portfolio. For instance, in October 2019, IBM
  Corporation introduced storage software for a new
  appliance targeting artificial intelligence and
  data analytics workloads.

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