GCC and Levant Data Storage Market

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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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Market Overview Data storage refers to recording
information in a storage medium. There are
different types of storage media are available
including magnetic tape, optical discs,
phonographic recording, DNA RNA, handwriting,
etc. Electronic data storage requires electric
power to store and retrieve data. Technological
advancements in information and social technology
have led to growth in data storage. Small and
medium-sized enterprises (SMEs) are increasingly
leveraging big data and the internet of things
(IoT)-enabled services to expand their presence
in storage market. 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 Dynamics- 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 Dynamics- 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.

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• 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.
• 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.
• 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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