According to International Data Corporation (IDC (News - Alert)), investments in Storage and Device management software and Data Protection and Recovery software have been driving growth in the third quarter of the storage software market.
International Data Corporation is an iconic global provider of market intelligence, advisory services for the information technology, telecommunications and consumer technology markets. It is a subsidiary of IDG, a worldwide technology media, research, and events company.
For more than 48 years now, IDC has been providing strategic insights that help IT professionals, investment community business executives in making fact-based decisions. More than 1000 IDC analysts are located in over 110 countries providing global, regional, and local expertise on technology and industry opportunities and trends.
QView, IDC's Worldwide Quarterly Storage Software, is a quantitative tool for analyzing the global storage software market. QView monitors revenue quarterly and can provide data segmentation by vendor, submarket, functional product family, and region.
Reports and analysis from QView show the increase of 1.4 percent in worldwide storage software market during the third quarter of 2012, compared to data of 2011 of the same quarter. Total revenue during the third quarter was $3.46 billion.
"Overall growth within the storage software market was suppressed due to reduced investments in Archiving software, Storage Infrastructure software, and Storage Replication software," said Eric Sheppard, research director, Storage Software at IDC. "This was offset by increased investments in Data Protection & Recovery software as well as Storage & Device Management software as companies continue to look for new features that enable modern data protection and efficient storage and device management."
Top ranking storage software suppliers were EMC, Symantec (News - Alert) and IBM, with 25.3 percent, 14.8 percent and 14.7 percent market shares, respectively. Largest organic growth during the quarter was experienced by CommVault and Hitachi (News - Alert).
CommVault experienced 21.8 percent year-over-year increases, and Hitachi had the year-over-year increase of 10.2 percent in the same quarter.
Revenue from Data Protection & Recovery software was up 4.3 percent year-over-year to $1.24 billion, while revenue from Storage & Device Management software totaled $652.6 million for 5.1 percent year-over-year growth.
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Edited by Braden Becker