Worldwide storage software revenue increased 3.3% to $3.5bn during the first quarter of 2012 compared to the revenue during corresponding quarter in 2011, according to a new report.
The growth however slowed compared to the growth the storage software market had recorded during last two years, according to a report called, ‘Worldwide Storage Software QView’ from International Data Corporation (IDC).
IDC Storage Software research director Eric Sheppard said that the first quarter saw decidedly mixed results.
"Incremental spending attributable to recent product refreshes have run their course within some functional markets, such as storage infrastructure software," Sheppard said.
"Meanwhile, continued fine-tuning of product pricing, packaging and messaging is helping to draw out new investments within other markets, such as the Data protection and recovery market."
EMC, IBM, and Symantec topped among storage software suppliers with respective market share of 24%, 15.7%, and 14.8%.
In terms of growth, CommVault and IBM recorded year on year growth of 26.2% and 18.4% respectively, recording the largest organic growth during the quarter.
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HP’s recent acquisition of Autonomy helped drive 72.6% year-over-year growth for the company during the quarter, the report revealed.
Data Protection and Recovery and Archiving Software were the two fastest growing sub-markets with year-over-year growth rates of 5.5% and 5.0% respectively, generating $1.25bn and $411m in total revenues.
The investment on storage software by government agencies and education institutions were also relatively flat, experiencing only 1.2% year-over-year revenue growth.
Small and medium sized companies increased 8.8% during first quarter of 2012 driving a considerable amount of market growth during the quarter.
