With advances in storage networking and the introduction of new low-cost storage options, IDC believes the storage software market will more than double by 2006, reaching $13.6 billion compared with the slight 0.9% growth experienced from 2000-2001.
‘The scale and complexity of today’s storage systems has created a demand for innovative, integrated storage software products,’ said Bill North, research director for IDC’s Storage Software service. ‘Software suppliers whose products can simply automate the management of storage systems, and those who can keep pace with technology changes and emerging storage architectures, will have rich new opportunities and will continue to experience rapid growth.’
IDC also believes the storage resource management area will be the fastest-growing sub-segment over the next five years, increasing at a compound annual growth rate of 21.6%.
According to IDC, this growth is attributed to the adoption of more sophisticated resource management tools designed with storage networking in mind as well as increased corporate emphasis on making better use of existing storage systems.
The two other segments comprising the storage software market – backup, archive, and hierarchical storage management (HSM) and storage replication – declined in 2001 primarily as a result of the economic downturn and lower IT spending, but both are expected to rebound over the forecast period.