Global enterprises show no sign of reining in their storage software investments, as new research shows that sales of the technology jumped sharply between July and September this year.
According to IDC, the worldwide storage software market experienced its 12th consecutive quarter of year-over-year growth in the third quarter of 2006 with revenues of $2.5bn, a 10.7 per cent increase over the same quarter one year ago.
The analyst firm's Worldwide Quarterly Storage Software Tracker found that storage replication was once again a major factor driving the sector's growth.
"The market for storage software has performed very well over the past three years with the replication and archiving segments providing a lot of momentum," said Rhoda Phillips, research manager for storage software at IDC.
"IDC expects this trend to continue as companies focus on data retention requirements and business continuity needs, as well as storage consolidation and migration issues."
Storage replication, one of the largest storage software markets, demonstrated year-over-year growth of 22.5 per cent in the third quarter of 2006.
Meanwhile, the smaller but fast-growing archive and hierarchical storage management market posted 30.8 per cent year-over-year growth.
EMC led the overall market with 28.5 per cent revenue share in the third quarter of 2006. Symantec took the second position with 17.6 per cent revenue share, while IBM finished in third position with 12.3 per cent revenue share.
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