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India Data Center Storage Market Market Size (2024 - 2029)

The India Data Center Storage Market is experiencing significant growth, driven by the increasing demand for cloud computing among small and medium enterprises, government regulations for local data security, and rising investments by domestic players. This growth is reflected in the expanding need for data center storage solutions. The region is also witnessing a substantial increase in IT load capacity and the construction of raised floor areas, which further supports the expansion of data center infrastructure. Additionally, the installation of a large number of racks and the development of submarine cable projects are expected to enhance connectivity and data handling capabilities, contributing to the market's expansion.

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Market Size of India Data Center Storage Industry

India Data Center Storage Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2023
Market Size (2024) USD 2.53 Billion
Market Size (2030) USD 5.77 Billion
CAGR (2024 - 2030) 14.68 %
Market Concentration Medium

Major Players

India Data Center Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Data Center Storage Market Analysis

The India Data Center Storage Market size is estimated at USD 2.53 billion in 2024, and is expected to reach USD 5.77 billion by 2030, growing at a CAGR of 14.68% during the forecast period (2024-2030).

The increasing demand for cloud computing among SMEs, government regulations for local data security, and growing investment by domestic players are some of the major factors driving the demand for data centers in the country, leading to a growing need for data center storage equipment.

  • The upcoming IT load capacity in the region is expected to reach 4,700 MW by 2029, which is projected to positively impact the demand for data center racks during the forecast period.
  • The construction of raised floor areas for data centers in the region is expected to reach 14.2 million sq. ft by 2029 for under-construction raised floor space.
  • The region's total number of racks to be installed is expected to reach 710,000 units by 2029.
  • Currently, 15 submarine cable projects are under construction in the region. One such submarine cable, estimated to start service in 2024, is India Europe Xpress (IEX), stretching over 9775 kilometers with landing points in Mumbai.

India Data Center Storage Industry Segmentation

Data center storage refers to the devices, hardware, networking equipment, and software technologies that enable data storage and applications within data center facilities. It stores, manages, retrieves, distributes, and back up digital information within data center facilities.

The India Data Center Storage Market is Segmented by Storage Technology (Network Attached Storage (NAS), Storage Area Network (SAN), Direct Attached Storage (DAS)), by Storage Type (Traditional Storage, All-Flash Storage, Hybrid Storage), by End User (IT & Telecommunication, BFSI, Government, Media & Entertainment and Other End User). The market sizes and forecasts regarding value (USD) for all the above segments are provided.

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India Data Center Storage Market Size Summary

The India Data Center Storage Market is poised for significant growth, driven by the increasing demand for cloud computing, stringent government regulations on data security, and substantial investments from domestic players. As businesses generate and process larger volumes of data, the need for robust data center storage solutions is becoming paramount. This demand is further fueled by the rapid expansion of data-intensive technologies and digital services, which necessitate the scaling of storage infrastructure. The market is witnessing a surge in the construction of data centers, with a notable increase in the number of racks and raised floor areas, supported by the development of submarine cable projects to enhance connectivity. The rise of hyperscale facilities by major internet providers is also contributing to the market's expansion, as these entities require extensive storage capabilities to support their cloud services.

The adoption of hybrid storage solutions is gaining traction as businesses seek the flexibility and scalability offered by combining on-premises and cloud storage. This trend is particularly evident in sectors such as BFSI, manufacturing, public sector, media, and gaming, where the demand for efficient data management and storage solutions is on the rise. The pandemic has accelerated the reliance on cloud computing, making it a critical component for digital transformation and business continuity. Major players in the market, including Dell Inc., Hewlett Packard Enterprise, NetApp Inc., Hitachi Vantara LLC, and Kingston Technology Company Inc., are leveraging strategic collaborations and technological advancements to enhance their offerings and capture a larger market share. The introduction of advanced storage solutions and the expansion of product portfolios by these companies are indicative of the growing importance of data center storage in supporting the increasing data traffic and connectivity needs across various industries in India.

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India Data Center Storage Market Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Expansion of IT Infrastructure to Increase Market Growth

      2. 1.2.2 Increased Investments in Hyperscale Data Centers To Increase Market Growth

    3. 1.3 Market Restraints

      1. 1.3.1 High Initial Investment Cost To Hinder Market Growth

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Assessment of COVID-19 Impact

  2. 2. MARKET SEGMENTATION

    1. 2.1 Storage Technology

      1. 2.1.1 Network Attached Storage (NAS)

      2. 2.1.2 Storage Area Network (SAN)

      3. 2.1.3 Direct Attached Storage (DAS)

      4. 2.1.4 Other Technologies

    2. 2.2 Storage Type

      1. 2.2.1 Traditional Storage

      2. 2.2.2 All-Flash Storage

      3. 2.2.3 Hybrid Storage

    3. 2.3 End-User

      1. 2.3.1 IT & Telecommunication

      2. 2.3.2 BFSI

      3. 2.3.3 Government

      4. 2.3.4 Media & Entertainment

      5. 2.3.5 Other End-User

India Data Center Storage Market Market Size FAQs

The India Data Center Storage Market size is expected to reach USD 2.53 billion in 2024 and grow at a CAGR of 14.68% to reach USD 5.77 billion by 2030.

In 2024, the India Data Center Storage Market size is expected to reach USD 2.53 billion.

India Data Center Storage Market Report Snapshots

India Data Center Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2030)