The storage software market in the Asia/Pacific excluding Japan (APEJ) region grew by 17% year-on-year to reach $478m in the first half of 2011, according to the latest International Data Corporation’s Asia/Pacific Semiannual Storage Software Tracker.
Australia, China and Korea accounted for 65 % of the total revenue for storage software in the region.
According to the study, EMC and Symantec were the leaders in the storage software market with around 55% of the total market share.
Growth in the storage software market in APEJ will remain positive according to the research firm, which expects this market to reach $1637m by 2015.
IDC expects that countries like India, Indonesia and China would contribute strongly to the growth during the forecast period.
IDC’s Asia/Pacific Storage Software Research Senior Market Analyst Ridhi Sawhney said massive growth of data and the needs to leverage data for strategy planning are the driving factors for the Storage Software market in the region.
"IDC foresees this trend to continue as data growth is fueled by the emergence of new applications, the proliferation of virtualization, the creation of electronic document stores, the increasing need to share documents, and the retention or preservation of digital records. Data Protection and Recovery market continues to take the largest share of the Storage Software market because of revenue growth opportunities coming from virtualization, deduplication, data growth, cloud services, more robust disaster recovery, and new applications. IT organizations have increasingly focused on curbing storage budgets while optimizing performance and capacity. As a result, there is an increased interest on technology products that can help improve efficiency, such as automated tiering, deduplication, compression, thin provisioning, and space-efficient snapshots," adds Sawhney.
