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Norway Data Center Storage Market Size (2024 - 2029)

The Norway Data Center Storage Market is poised for growth, driven by increasing demand for cloud computing, government regulations on local data security, and rising investments from domestic players. The market's expansion is supported by the country's evolving IT landscape and technological initiatives, which include digital transformation, e-commerce, and smart city developments. These factors contribute to the growing need for data storage solutions, reflecting a significant increase in the market's capacity and infrastructure over the forecast period.

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Market Size of Norway Data Center Storage Industry

Norway Data Center Storage Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.49 Billion
Market Size (2029) USD 0.74 Billion
CAGR (2024 - 2029) 6.85 %
Market Concentration Medium

Major Players

Norway Data Center Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

Norway Data Center Storage Market Analysis

The Norway Data Center Storage Market size is estimated at USD 0.49 billion in 2024, and is expected to reach USD 0.74 billion by 2029, growing at a CAGR of 6.85% during the forecast period (2024-2029).

  • 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.
  • Under Construction IT Load Capacity: The upcoming IT load capacity of the Norway data center market is expected to reach more than 700 MW by 2029.
  • Under Construction Raised Floor Space: The country's construction of raised floor area is expected to increase above 3.4 million sq. ft by 2029.
  • Planned Racks: The country's total number of racks to be installed is expected to reach above 174K units by 2029. Oslo is expected to house the maximum number of racks by 2029.
  • Planned Submarine Cables: There are close to 15 submarine cable systems connecting Norway, and many are under construction. One such submarine cable that is estimated to start service in 2025 is Celtic Norse, which stretches over 2008 Kilometers with landing points from Oysanden, Norway.
  • An increasing need for data storage has resulted in an upsurge in the number of data centers nationwide. Several factors contribute to the demand for data centers and their growth within Norway, which is reflected by the country's evolving IT landscape, business activities, and technological initiatives.
  • The key drivers that propel the development of data centers in the nation include digital transformation, cloud computing adoption, e-commerce & digital services, renewable energy & sustainability, and smart cities & IoT initiatives. Hence, such factors are expected to drive market growth during the forecast period.

Norway Data Center Storage Industry Segmentation

Data center storage encompasses devices, hardware, networking equipment, and software technologies facilitating the storage of data and applications within data center facilities, used for storing, managing, retrieving, distributing, and backing up digital information within such facilities. 

The Norway data center storage market is segmented by storage technology (network attached storage (NAS), storage area network (SAN), direct attached storage (DAS), and other technologies), by storage type (traditional storage, all-flash storage, and hybrid storage), and by end-user (IT & telecommunication, BFSI, government, media & entertainment, and other end-users). 

Market sizes and forecasts are provided in terms of value (USD) for all the segments above

.

Storage Technology
Network Attached Storage (NAS)
Storage Area Network (SAN)
Direct Attached Storage (DAS)
Other Technologies
Storage Type
Traditional Storage
All-Flash Storage
Hybrid Storage
End-User
IT & Telecommunication
BFSI
Government
Media & Entertainment
Other End-Users
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Norway Data Center Storage Market Size Summary

The Norway Data Center Storage Market is experiencing significant growth, driven by the increasing demand for cloud computing, government regulations on data security, and substantial investments by local players. The market is characterized by a surge in data center construction, with a focus on expanding IT load capacity, raised floor space, and the number of racks, particularly in Oslo. The development of submarine cable systems, such as the Celtic Norse, further enhances connectivity and supports the growing data storage needs. Key drivers of market expansion include digital transformation, the adoption of cloud services, e-commerce, renewable energy initiatives, and the rise of smart cities and IoT applications. These factors collectively contribute to the evolving IT landscape in Norway, fostering a robust demand for data center storage solutions.

The shift towards hybrid storage solutions, combining on-premises and cloud storage, is gaining traction in Norway, aligning with the country's focus on sustainability and renewable energy. Government initiatives promoting technology adoption and innovation are expected to bolster the demand for advanced data center infrastructure. The implementation of 5G technology has also increased data consumption, further propelling the growth of data centers. Major players in the market, such as Dell Inc., Hewlett Packard Enterprise, Huawei Technologies Co. Ltd., Hitachi Vantara LLC, and Kingston Technology Company Inc., are actively enhancing their storage solutions to meet the rising demand. Recent developments, including new service offerings and strategic partnerships, underscore the competitive landscape and the commitment to expanding regional customer bases.

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Norway Data Center Storage Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Demand of Clolud Computing Capabilities Drives the Market Growth

      2. 1.2.2 Increase in the Demand for Energy-Efficient and Cost-Effective Data Centers

    3. 1.3 Market Restraints

      1. 1.3.1 Skilled Workforce Availability and Security Concerns

    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-Users

Norway Data Center Storage Market Size FAQs

The Norway Data Center Storage Market size is expected to reach USD 0.49 billion in 2024 and grow at a CAGR of 6.85% to reach USD 0.74 billion by 2029.

In 2024, the Norway Data Center Storage Market size is expected to reach USD 0.49 billion.

Norway Data Center Storage Market Report Snapshots

Norway Data Center Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)