According to a new market report published by Future Market Insights, titled “Data Storage Market: Middle East Industry Analysis and Opportunity Assessment, 2015 - 2025,” the Middle East data storage market was valued at US$ 1,475.9 Mn in 2014 and is expected to register a CAGR of 14.4% from 2015 to 2025. Growth of the Middle East data 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 data storage market is segmented into consumer data storage devices and enterprise data storage. The consumer data storage segment is further sub-segmented into Hard Disk Drive (HDD), Solid State Devices (SSD), memory card, optical disk and USB flash drive. The enterprise data storage segment is further sub-segmented into flash storage and hard disk, cloud based storage, software-defined storage and hyper-converged infrastructure. In the consumer data storage segment, the reduction in cost of Solid State Devices (SSD) is contributing immensely to the growth of the segment. The consumer data storage devices segment was valued US$ 275.5 Mn in 2014 and is anticipated to register a CAGR of 12.4% during the forecast period 2015-2025. In terms of volume, the hard disk drive segment accounted for 1,533.0 thousand units in 2016 and is expected to expand at a CAGR of 12.1% during the forecast period. The enterprise data storage segment is anticipated to expand at a CAGR of 14.8% during the forecast period in terms of revenue. Enterprise data storage is a common repository for business information, ensuring common data management and providing data recovery solutions. Strong growth witnessed in the cloud computing (due to increased spending on storage by service provider) is the primarily contributing to the growth of the enterprise data storage segment in the market
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