Storage software market booms

The global storage software market grew 17.7% in the fourth quarter of 2003 compared to the same period in 2002 to reach US$1.78 billion in total revenue, according to IDC.

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By  Matthew Southwell Published  March 16, 2004

The worldwide storage software market grew 17.7% in the fourth quarter of 2003 compared to the same period in 2002 to reach US$1.78 billion in total revenue, according to IDC. Overall, revenue grew 8% year-over-year in 2003, injecting almost a half billion dollars of new revenue into the marketplace. “Information is critical to the operation of every organisation,” says John McArthur, group vice president of storage research at IDC. “As we begin to move away from the most recent downturn, the storage software market is enjoying the positive effects of data centres, which are investing heavily to secure, manage, and protect their digital assets,” he explains. Within the overall market, all of the major storage software segments posted double-digit revenue growth in the fourth quarter of 2003. The back-up and archive market grew 17.6% year-over-year while the storage replication software and the storage resource management markets grew 14.7% and 16.2% year-over-year, respectively. For the full year, the storage resource management market posted the strongest revenue growth of 11.3%, followed by the storage replication software market with 9.5% annual growth.

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