IDC Report Shows Strong Growth In Storage Software Market

The market for storage software services grew by 10.6 per cent in the fourth quarter of 2010, research firm IDC has revealed.

According to the Worldwide Storage Software QView report released by IDC, the worldwide storage software services market was worth $3.4 billion when Q4 2010 ended. The 10 per cent increase marked the fifth consecutive quarter of growth for the market.

Sales of storage software in 2010 increased by 10.3 percent to $12.7 billion, the company said. The storage infrastructure division registered a record 23.6 per cent growth in 2010 to $1.2 billion. The data protection and recovery division increased 11.2 per cent, breaching the $4.4 billion in 2010.

Eric Sheppard, research director with IDC's Storage Software Program, said in a statement, “The storage software market is in the midst of a sustained recovery, which is partly driven by new product innovations, and partly by a strong desire to address inefficiencies related to storing, protecting, and managing corporate data.”

EMC was the leading storage software services provider with a market share of 25.4 per cent in Q4 2010, raking in $866.1 million in revenue followed by Symantec with a 16 per cent share and IBM with a 13 per cent share.

“A considerable increase in storage software designed to enable automated storage tiering, coupled with a continued market trend of addressing aging, inefficient storage deployments were two important drivers of market growth during the quarter,” Sheppard added.