IDC predicts steady growth in storage services

Statistics from IDC predict that the storage services market will achieve 6.4% growth between 2002 and 2007 reaching a value of US$28.9 billion.

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By  Greg Wilson Published  April 2, 2003

Investment in storage services remains cautious in the early part of 2003, but IDC is still confident of the market segment’s long term health. Statistics from IDC predict that the storage services market will achieve 6.4% compound annual growth between 2002 and 2007 reaching a value of US$28.9 billion.

In an era of limited IT budgets, storage services spending is being tied very closely to specific projects and initiatives within the organisation. For instance, a new mission critical application that is introduced to the IT environment could require network attached storage to perform adequately.

The exceptions to the rule are storage management or outsourcing deals, which tend to be driven by an organisation's long term strategy around reducing costs and gaining better performance and availability from the storage investment.

“Customers continue to need assistance with consolidation projects, backup and recovery, and the move to networked storage,” says Doug Chandler, program director, Storage and Data Management Services, IDC.

“This has kept spending on storage services relatively steady, even as storage product sales have slowed,” he adds.

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