2014-02-14 21:51:01 - Global Storage Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Storage market is to grow at a CAGR of 7.83 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased growth of structured and unstructured data. The Global Storage market has also been witnessing a collaboration of storage software and hardware solutions. However, the increasing availability of open source storage software solutions could pose a challenge to the growth of this market.
Storage hardware solutions are becoming very important among enterprises to support their increasing needs of data storage. The storage software vendors are developing solutions that are specific to the hardware being used for the storage of data; software solutions are being developed specific to the architecture of the storage
infrastructure. This facilitates better optimization of storage space and better management. Enterprises are witnessing a growing trend of bundled hardware and software solutions being provided by the storage vendors for better infrastructure performance.
The increasing growth of structured and unstructured data is a major growth driver in this market. Structured data has a pre-defined data structure whereas unstructured data has no specific internal data structure. Enterprise applications are generating large volumes of information, and this is expected to continue in the future. The majority of corporate data sources include the data generated from the enterprise applications, along with newly-generated cloud-based data, social network data, and device data.
One of the main challenges is the increasing availability of open-source storage software. Although the open-source vendors lack technical expertise and have lower storage management capabilities, there is a growing demand for such software from the small enterprises which procure the solution to meet their storage management needs.
The key vendors dominating this market space include Dell Inc., EMC Corp., Hewlett-Packard Co., IBM Corp., NetApp Inc. and Symantec Corp. The other vendors mentioned in the report are BlueArc Corp., Fujitsu Ltd., Hitachi Ltd., Oracle Corp., Pansas Inc., and Solarwinds Inc.
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