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

The Singapore Data Center Storage Market is experiencing growth driven by the increasing demand for cloud computing, government regulations for local data security, and rising investments by domestic players. This demand is contributing to the expansion of data center storage capacity in the country. The market's expansion is further supported by the development of IT load capacity, raised floor space, and the installation of a significant number of racks. Additionally, the construction of submarine cable systems is enhancing connectivity, which is crucial for the data center infrastructure.

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Market Size of Singapore Data Center Storage Industry

Singapore Data Center Storage Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2023
Market Size (2024) USD 1.16 Billion
Market Size (2030) USD 1.42 Billion
CAGR (2024 - 2030) 3.44 %
Market Concentration Medium

Major Players

Singapore Data Center Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

Singapore Data Center Storage Market Analysis

The Singapore Data Center Storage Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.42 billion by 2030, growing at a CAGR of 3.44% 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.

  • Under Construction IT Load Capacity: The upcoming IT load capacity of the Singaporean data center market is expected to reach 1000 MW by 2029.
  • Under Construction Raised Floor Space: The country's construction of raised floor area is expected to increase to 3.3 million sq. ft by 2029.
  • Planned Racks: The country's total number of racks to be installed is expected to reach more than 160K units by 2029. East Singapore is expected to house the maximum number of racks by 2029.
  • Planned Submarine Cables: There are close to 39 submarine cable systems connecting Singapore, and many are under construction. One such submarine cable estimated to start service in 2024 is Bifrost, which stretches over 19,888 kilometers with landing points from Changi North and Changi South, Singapore.

Singapore 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 backs up digital information within data center facilities.

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

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

The Singapore 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 local players. The market is experiencing a surge in demand for data center storage equipment, fueled by the need for hyperscale facilities by major internet providers like AWS, Microsoft, Google Cloud, and Alibaba Cloud. The expansion of 5G networks and the proliferation of connected devices and smart homes are further contributing to the rising demand for data storage solutions. As the number of data centers increases to accommodate the growing data traffic and digital user base, the need for advanced storage infrastructure, including flash storage and hybrid systems, is becoming more pronounced.

The market is moderately fragmented, with key players such as Dell Inc., Hewlett Packard Enterprise, NetApp Inc., Huawei Technologies Co. Ltd., and Kingston Technology Company Inc. holding significant market shares. These companies are leveraging strategic collaborations and innovative solutions to enhance their market presence and profitability. The introduction of hybrid storage solutions, which combine on-premises and cloud storage, is gaining traction as businesses seek to manage and store vast amounts of data efficiently. The ongoing digitalization efforts, coupled with the adoption of big data and IoT technologies by SMEs, are driving the procurement of advanced storage systems. As a result, the Singapore data center storage market is expected to witness steady growth, supported by technological advancements and increasing demand for scalable and flexible storage solutions.

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Singapore 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 the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By 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 By Storage Type

      1. 2.2.1 Traditional Storage

      2. 2.2.2 All-Flash Storage

      3. 2.2.3 Hybrid Storage

    3. 2.3 By 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

Singapore Data Center Storage Market Market Size FAQs

The Singapore Data Center Storage Market size is expected to reach USD 1.16 billion in 2024 and grow at a CAGR of 3.44% to reach USD 1.42 billion by 2030.

In 2024, the Singapore Data Center Storage Market size is expected to reach USD 1.16 billion.

Singapore Data Center Storage Market Report Snapshots

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