Storage Software Market Keeps on Growing

By Greg McNevin

September 11, 2008: Just as the external disk storage is booming so is the storage software market, with IDC announcing that it has surpassed US$3 (AU$3.69) billion in sales for the first time in Q2.

According to IDC’s Worldwide Quarterly Storage Software Tracker, the worldwide storage software market experienced its 19th consecutive quarter of year-over-year growth in Q2 this year, with revenues of $3.1 billion - a 14.2 percent increase over the same quarter one year ago.

The result marks the first time the worldwide storage software market surpassed US$3 billion in revenues in a single quarter, further underscoring the exponential growth of storage technologies.

“The overall storage software market grew at a faster rate in the second quarter than in the usually slow first quarter of the year,” says Michael Margossian, research analyst, Storage Software at IDC. “The year-over-year growth for 2Q08 was 14.2 percent compared to 9.4 percent for 1Q08.

“Most of the top vendors experienced accelerated growth in the second quarter, which helps to explain the strong Q2 results,” adds Margossian. “The smaller vendors also had a strong quarter, but had less impact on the overall market than the top vendors.”

Comment on this story