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Storage Software Market Surpasses $3B

FRAMINGHAM, Mass. -- According to IDCs Worldwide Quarterly Storage Software Tracker, the worldwide storage software market experienced its 19th consecutive quarter of year-over-year growth in the second quarter of 2008 (2Q08) with revenues of $3.1 billion, a 14.2% increase over the same quarter one year ago. This was the first time that the worldwide storage software market surpassed $3 billion in revenues in a single quarter.

"The overall storage software market grew at a faster rate in the second quarter than in the usually slow first quarter of the year. The year-over-year growth for 2Q08 was 14.2% compared to 9.4% for 1Q08. Most of the top vendors experienced accelerated growth in the second quarter, which helps to explain the strong Q2 results," said Michael Margossian, research analyst, Storage Software at IDC. "The smaller vendors also had a strong quarter, but had less impact on the overall market than the top vendors."