No. 1: Financial Services. This is the vertical of verticals, the primary target for nearly every storage networking vendor. Besides having the biggest dollar power, this market depends on IT for its lifeblood. Not that other sectors don't -- but let's face it, the economy is what sustains the rest of the verticals, and without the necessary machinery, investors are stumped.
According to a report issued by Goldman Sachs Research in September 2006, financial companies account for 21 percent of all IT revenue. IDC figures concur and put the market at over $2 billion annually. According to IDC senior analyst Daniel Corsetti, banking alone was the highest worldwide spender in the 2006, accounting for 14.2 percent of all worldwide storage spending.
Financial services require all kinds of storage support -- from fast and scaleable primary storage to fully manageable archives befitting a highly regulated industry. (See New Tools for New Rules.) Even if spending next year is 2 percent above that, the pickings will definitely be sizeable.
Mary Jander, Site Editor, Byte and Switch
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