January 18, 2001, 12:28 PM — Analyst firm IDC says that the storage software market is heating up -- and that revenue from storage software will more than double by 2004 as a result of e-business.
Worldwide storage software revenue will grow from $5 billion in 1999 to $10.4 billion in 2004.
Steve Widen, research director for IDC's Storage Software program, says that the complex nature of storage-area networks and the increasing need for application uptime and data availability will drive this storage software growth.
In terms of software used to back up and archive data, IDC predicts that its revenue will grow from $2.5 billion in 1999 to more than $5.5 billion in 2004.
One of the leading types of storage software is storage resource management software, which measures the utilization of the storage on the network. According to IDC this segment will grow by almost 22% in 2004.