The Storage Software market in the Asia Pacific excluding Japan (APEJ) region grew by 17% year-on-year to reach US$478 million in the first half of 2011, according to the latest IDC Asia/Pacific Semiannual Storage Software Tracker.

The global market intelligence firm asserts in addition that Australia, China and Korea were the key contributors and made up 65 % of the total revenue for Storage Software in the region.

“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 continues to take the largest share of the Storage Software market because of revenue growth opportunities coming from virtualization, de-duplication, data growth, cloud services, more robust disaster recovery, and new applications”, says Ridhi Sawhney, Senior Market Analyst for IDC's Asia/Pacific Storage Software Research. The analyst adds: “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 ranking, de-duplication, compression, thin provisioning, and space-efficient snapshots.”

2010-2015 APEJ Storage Software Market Sizing and Forecast (US$M)

Notes: The data refers to software license, maintenance, and subscription/other software revenue only.

Source: IDC Asia/Pacific Semiannual Storage Software Tracker, 1H 2011

In addition, IDC’s research revealed that the public sector took the largest share of 24% of the total revenue of the storage software market in APEJ in the first half of 2011, followed by banking as well as the communication and media sector.

Across almost all verticals, storage initiatives have traditionally been motivated by the need to manage large amounts of information in a cost-effective manner and regulatory retention mandates or compliance audits.

Organizations are making investments in technologies that allow them to make better use of existing structured and unstructured information (e.g. images, videos, machine logs) to generate business value.

All in all, IDC foresees that growth in the storage software market in APEJ will remain positive and expects the market to reach US$1,637 million by 2015, with countries like India, Indonesia and China expecting to contribute strongly to the growth during the forecast period. (Source: IDC)

By MediaBUZZ