Storage infrastructure market experienced highest year-over-year growth of 29.3%
Worldwide storage software market registered a growth of 12.4% year-over-year in the first quarter of 2011 with revenues of $3.5bn, according to IDC.
The research firm said that the storage infrastructure market experienced the highest year-over-year growth of 29.3%, which took the functional market to $333m in total revenues for first quarter of 2011.
Data protection and recovery remained the largest functional market by a considerable margin with sales in this market segment surpassing $1.4bn for the quarter, which was an increase of 12.7% over the same quarter previous year.
IDC storage software program research director Eric Sheppard said the storage software market experienced another quarter of double-digit year-over-year growth, which was partly driven by continued demand for recently refreshed products as well as a general desire to improve the way corporate data is stored and protected.
"New storage technologies that help drive improved asset utilisation and operational expenses clearly appeal to many IT departments; and this, coupled with a demand for data protection and business continuity, has helped to drive the growth in the storage software market," Sheppard said.