IDC Forecasts the Storage Software Market Will Approach $11 Billion in 2004
FRAMINGHAM, MA — NOVEMBER 6, 2000 — Storage capacities are growing at a tremendous rate in most enterprises. This growth is driving the need for more sophisticated storage software tools. According to IDC, worldwide storage software revenue will grow from $5 billion in 1999 to $10.4 billion in 2004.
"Due in part to the ebusiness phenomenon, enterprises are continuously looking to storage management solutions to assist in the management of increased storage capacities," said Steve Widen, research director for IDC's Storage Software program. "Because of the complexity of underlying storage architectures such as SANs and the increased demand for 100% application uptime and data availability, the use of storage management solutions will continue to increase rapidly."
The trend in software storage is toward a comprehensive suite of backup, restore, archive, and hierarchical storage management (HSM) solutions that support heterogeneous platforms. According to IDC, this segment's revenue is expected to more than double, from $2.5 billion in 1999 to $5.6 billion in 2004.
Storage resource management will be one of the leading segments in terms of growth and importance. IDC expects this segment's 1999-2004 compound annual growth rate to be almost 22%. The overall market average is 16%.
"The requirement for more automated policy-based solutions along with a more predictive approach to managing storage resources by enterprises will be a key force in the growth of this segment," Widen said.
Information like the above can be found in IDC's report Storage Software and Submarkets, 1998-2004 (IDC #B23165). The report divides the market into the following segments: backup, recover, archive, and HSM; storage resource management; storage data replication and availability; and storage utilities. It shows estimated 1999 worldwide revenue for most leading vendors in each of these submarkets and forecasts revenues in each segment through 2004 by operating environment. Key trends affecting each market are discussed.
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
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