The worldwide storage market showed strong growth in the fourth quarter of last year, driven by an improving economy and the need for advanced storage protection within the enterprise, a market research firm said Monday.
The storage market increased by 17.7 percent in the quarter, compared to the same period a year ago, reaching $1.78 billion in total revenue, International Data Corp. said. Year-over-year revenue increased by 8 percent to $6.3 billion from $5.8 billion in 2002.
The growth figures reflect more corporate spending as the economy improves worldwide, as well as the growing need for advanced data protection as the result of the increasing number of attacks from viruses and hackers, IDC analyst Bill North said. Also, as electronic data has become more critical to a company's business, so has the need to protect the information against system failures caused by buggy software or major power outages.
While the need for storage software has grown, so has the quality of the products released by vendors.
"Two years ago, storage networking was a science project," North said. "Now it's become mainstream."
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