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South Korea Data Center Storage Market Size (2024 - 2029)

The South Korea Data Center Storage Market is experiencing significant growth, driven by the increasing demand for cloud computing among small and medium-sized enterprises, stringent government regulations for local data security, and substantial investments from domestic players. This growth is reflected in the expanding market size, which is poised to rise over the forecast period. The development of IT load capacity, raised floor space, and the installation of racks are key components of this expansion, with Greater Seoul anticipated to accommodate the majority of the new racks. Additionally, the construction of submarine cable systems is enhancing connectivity, further supporting the market's growth trajectory.

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Market Size of South Korea Data Center Storage Industry

South Korea Data Center Storage Market Summary
Study Period 2018-2029
Base Year For Estimation 2023
Market Size (2024) USD 1.10 Billion
Market Size (2029) USD 2.13 Billion
CAGR (2024 - 2029) 11.61 %
Market Concentration Medium

Major Players

South Korea Data Center Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

South Korea Data Center Storage Market Analysis

The South Korea Data Center Storage Market size is estimated at USD 1.10 billion in 2024, and is expected to reach USD 2.13 billion by 2029, growing at a CAGR of 11.61% 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, leading to a growing need for data center storage equipment.

  • Under Construction IT Load Capacity: The upcoming IT load capacity of the South Korean data center market is expected to reach around 2,000 MW by 2029.
  • Under Construction Raised Floor Space: The country's construction of raised floor area is expected to increase to 5 million sq. ft by 2029.
  • Planned Racks: The country's total number of racks to be installed is expected to reach 270K units by 2029. Greater Seoul is expected to house the maximum number of racks by 2029.
  • Planned Submarine Cables: There are close to 10 submarine cable systems connecting South Korea, and many are under construction. One such submarine cable that is estimated to start service in 2023 is Southeast Asia-Japan Cable 2 (SJC2), which stretches over 10,500 Kilometers with landing points from Geoje, South Korea.

South Korea Data Center Storage Industry Segmentation

Data center storage refers to the devices, hardware, networking equipment, and software technologies that enable the storage of data and applications within data center facilities. It is used to store, manage, retrieve, distribute, and back up digital information within data center facilities.

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

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-User
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South Korea Data Center Storage Market Size Summary

The South Korea 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 by local players. The market is experiencing a surge in demand for data center storage equipment, fueled by the rapid expansion of digital infrastructure and the rising consumption of data, particularly through smartphones and mobile devices. The proliferation of 5G networks and the subsequent increase in data traffic have further bolstered the need for robust data storage solutions. As businesses transition to hybrid storage models, combining on-premises and cloud solutions, the market is witnessing a shift towards more flexible and scalable storage options. This trend is particularly evident in sectors such as online gaming, e-commerce, and digital media, where the need for efficient data management and storage is paramount.

The market landscape is moderately fragmented, with major players like Dell Inc., Hewlett Packard Enterprise, NetApp Inc., Hitachi Vantara LLC, and Huawei Technologies Co. Ltd. dominating the scene. These companies are actively engaging in strategic collaborations and innovations to enhance their market presence and profitability. Recent developments, such as NetApp's introduction of advanced block storage offerings and Pure Storage Inc.'s establishment of a regional innovation hub, underscore the ongoing efforts to optimize storage solutions and improve data processing capabilities. As the demand for agile, cost-effective, and flexible computing solutions continues to rise, the South Korea Data Center Storage Market is expected to expand significantly, driven by both technological advancements and evolving business needs.

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South Korea 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 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

South Korea Data Center Storage Market Size FAQs

The South Korea Data Center Storage Market size is expected to reach USD 1.10 billion in 2024 and grow at a CAGR of 11.61% to reach USD 2.13 billion by 2029.

In 2024, the South Korea Data Center Storage Market size is expected to reach USD 1.10 billion.

South Korea Data Center Storage Market Report Snapshots

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