Storage Software Market

Today evening I was going through some articles and thought I must write few lines based on the information gathered.

Unstructured data is growing at a rate of more than 100% per year in India which is igniting the demand for storage.  Sectors/Businesses which are generating multiple terabytes of data are mainly BFSI, IT-BPO, and Government Institutions.

Organizations are now becoming seriously concerned about data management and business continuity practices. They are looking forward to finding various ways of effective disaster recovery strategies. Even SMBs, who are looking to compete with larger enterprises, have realized the critical role of customer data for higher service efficiency. Indian IT Act,2000 , the BASE II Accord, and the Sarbanes Oxley Act mandate specific guidelines for data management, retention, protection and authentication which in turn are acting as drivers for Storage Software Adoption in India and worldwide.

Four of the seven storage software markets, that IDC (International Data Corporation) tracks, grew at a double-digit pace in 2011 and continue to exhibit strong growth potential, the research firm reported. Those four markets include: Data Protection and Recovery Software, Storage Replication Software, Storage Infrastructure Software and Storage and Device Management Software.

As per NASSCOM Software Product Study, the global storage software market is forecast to grow at CAGR of 9.5 percent from USD 13.9 billion in FY2008 to USD 26.2 billion in FY 2015. There will be increased spending in software related to data protection including replication, backup, and archive software. As per NASSCOM, the Indian storage market is forecast to grow at a CAGR of 27% from 55 million in FY 2008 to USD 293 million in FY2015.

Some of the key trends in the Storage Software Product Market:

a)      Open Storage Platform b) Virtualization c) Data De-duplication d) Deep Archival e) Storage-as-a-Service

Some of the Indian based companies who have storage software in their offerings:

1)      SARANGSoft India Pvt. Ltd. : Product named as filexpertez

2)      Druva: INSYNC

3)      Sanovi: Open Disaster recovery Management

Currently studying more on the delivery platforms for storage software, hope to share some more information soon 🙂

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