Storage Software Market Continues Strong Growth
Storage Software Market Continues Strong Growth
December 14, 2005: According to the research company IDC, the worldwide storage software market is continuing its strong growth, posting another 10% year-on-year growth in the third quarter of 2005.
The industry is now worth US$2.1 billion dollars with storage and replication behind much of the momentum with an impressive growth of 16.8%. The backup and archive market saw a 12.7% growth rate and when combined with resource management, represents the largest storage software market with one third each.
The file systems software market also displayed strong results with 15.6% year-over-year growth in the third quarter.
"We see strong demand in the backup and archive and replication segments driven by fundamental user requirements to protect, recover, and retrieve information, not only in the data center but also in remote and branch office locations" says Laura DuBois, research director for Storage Software at IDC. "This demand is in response to drivers such as application availability and business continuance, disaster recovery, and regulatory compliance."
Out of all the players in the market, EMC was the frontrunner with a revenue share of 29.1%, Symantec snuck into second place with a 20.0% share after getting a boost from its acquisition of Veritas and IBM took out third with 9.4%. Network Appliance and HP managed a statistical tie with a respective 6.9% and 6.6%.
Network Appliance posted the strongest year-over-year growth in the third quarter at 42.5%.
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