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The market for external storage systems in India witnessed a 6.0 per cent year-on-year (YoY) growth by vendor revenue in the fourth quarter, according to IDC’s latest Worldwide Quarterly Enterprise Storage Systems Tracker Q42019 .
India’s external storage market stood at $91.0 million in Q4 . According to the report, a major chunk of 81.2 per cent can be attributed to services such as banking, professional services, government, manufacturing, and telecommunications industries.
“India witnessed back to back strong growth rates for the last couple of years, but Covid-19 outbreak would act as a major barrier for storage market growth in the current year 2020. Covid-19 would have a negative impact on verticals such as manufacturing, transportation, construction, personal and consumer services. However, we can expect positive growth from healthcare, insurance and telecommunications verticals,” said Dileep Nadimpalli, Research Manager, Enterprise Infrastructure, IDC India.
The market for mid-range storage systems grew by 13.5 per cent Y-o-Y due to increased investments from banking and Government organizations in Q4, according to the report. The entry storage segment grew by 12.6 per cent Y-o-Y growth, while the high-end storage segment witnessed marginal growth in the fourth quarter of 2019.
The growth can be attributed to the growing digital economy especially given the current situation where employees across the globe are mandated to work from home amid the pandemic.
As for market leaders, Dell Technologies had the lead with a 25.6 per cent market share by vendor revenue, followed by Hewlett Packard Enterprise with a 14.9 per cent market share. Dell Technologies was the only vendor to witness market growth in the segment. It had witnessed a marginal Y-o-Y growth, while all other major vendors saw a decline in terms of Y-o-Y market share in Q4.
The external enterprise storage systems market is expected to grow at a single-digit CAGR in India between 2019 – 2024.
“Large technology refresh projects along with multiple digital transformation initiatives and incorporation of emerging third platform technologies and innovation accelerators such as IoT, AI and big data, across organizations would drive storage demand in the near future,” the report said.
Suggested keywords: tech, external storage, Dell, HP, IDC
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