Sales of storage software worldwide are expected to expand by just short of a billion dollars in 2011 after a tentative market recovery gained momentum in 2010, according to a new report.
Overall, global storage software revenues are predicted to grow about 7.8 percent this year over last year to hit some $13.8 billion, said the newly relaunched Worldwide Semiannual Storage Software Tracker from analyst firm IDC released Friday.
"The storage software market spent 2010 recovering from a difficult downturn. Fortunately, there was plenty of pent-up demand and new product innovations to help create momentum in the market," Eric Sheppard, research director for storage software at IDC said in a statement.
Further, IDC's forecasts indicate that growth appears to be sustainable for the time being.
"Looking forward, demand for storage software appears poised to remain strong around the world as organizations continue to address inefficiencies related to storing, protecting, and managing corporate data," Sheppard added.
The two top spots during the second half of calendar 2010 were held by EMC and Symantec, respectively, out of a field of 55 competitors. Between them, the two companies held almost 41 percent of the global market share, according to the tracker.
In fact, six of the vendors in the top ten outperformed the rest of the market in terms of growth. Those included Autonomy, CommVault, EMC, Hitachi Data Systems (HDS), IBM, and NetApp.
The strongest growth rates were seen in CommVault and HDS.
What drove their growth, however, was quite different.
For instance, HDS' growth was driven by three different aspects of its business -- storage infrastructure software, archiving software, and data protection and recovery software.
Meanwhile, CommVault's growth was primarily driven by a single category -- data protection and recovery.
During the current calendar year, IDC forecasts that three of the eight functional software areas that it tracks will grow more strongly than others -- archiving software, data protection and recovery software, and storage replication software.