26 Sep 2019
Investments from Banking and Professional Services Organizations Drove the Growth for External Storage Market in 2Q19, IDC India Reports
NEW DELHI, 26th September, 2019 – As per IDC’s latest Asia/Pacific Quarterly Ent erprise Storage Systems Tracker 2Q19 release, India’s external storage market witnessed a growth of 16.4% Year-over-Year (YoY) by vendor revenue and stood at USD 101.8 million in 2Q19.
Investments from Professional Services and Banking organizations drove the growth in 2Q19 majorly due to infrastructure modernization, technology refresh and investments on emerging technologies.
“Increasing demand from 3rd platform technologies, data localization, surveillance, etc. coupled with adoption of new age technologies such as IOT, RPA, AI, and Blockchain will drive the storage market in the near future,” says Dileep Nadimpalli, Research Manager, Enterprise Infrastructure, IDC India.
All-Flash Arrays (AFA) witnessed a significant growth of 33.4% YoY, which contributed 30.4% to the overall external storage systems market. Banking, Telecommunications, and Manufacturing were the key verticals, which saw strong YoY growth for all-flash arrays (AFA) in 2Q19.
Across all the storage class categories, High-End storage grew by 69.6% YoY due to large wins in FSI, Government, Media, and Telecommunications organizations in 2Q19. Entry and Midrange external storage segments also witnessed a YoY growth in 2Q19.
With the advent of Digital Transformation initiatives, there is a clear need for innovative Storage technologies to address the ever-growing storage requirements. Hyperconverged infrastructure, Object Storage and Software Defined Storage are getting more traction in the India Market.
Major Vendors Analysis
Dell Technologies continued to be the market leader with a 29.6% market share by vendor revenue, followed by Hewlett Packard Enterprise with 15.4% market share in 2Q19. Dell Technologies witnessed strong YoY growth of 32.5% in 2Q19, from key wins in Banking, Professional Services, and Manufacturing.
IDC India Forecast
The external enterprise storage systems market is expected to grow at a single digit compounded annual growth rate (CAGR) for the 2018 – 2023 time-period. The need for infrastructure modernization to address new emerging technologies infrastructure demands would drive growth for storage in the near future.
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