Storage software market to hit $10 Billion in 2005

The worldwide storage software market is set to grow from $5.47 billion to $10.7 billion in 2005, says IDC.

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By  Matthew Southwell Published  October 3, 2001

According to the latest research from IDC, the worldwide storage software market will grow from $5.47 billion to $10.7 billion in 2005. The analyst house says that a combination of the increasing use of digital information, a shortage of SAN management skills and a growing awareness of the need to protect corporate information will is responsible for the growth.

"The quick acceptance and adoption rate of storage software solutions during 2000 can certainly be expected to continue at an accelerated pace over the next five years," says Bill North, research director of IDC's storage software service.

"Enterprises will continue to demand more sophisticated software tools to assist in efficient management while corporations will strive for 100% application uptime and data availability. These will both continue to be key factors in market growth," he adds.

IDC expects the fastest-growing segment - storage resource management software - to reach $2.7 billion in 2005 from a previous $1.1 billion in 2000 while the backup and archive segment is expected to experience an 11.8% CAGR.

The analyst house also believes the storage resource management market is the most dynamic, with the driving factor being the increased deployment of storage area networks. Growth in this market is attributed to the adoption of more sophisticated resource management tools designed with storage networking in mind.

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