India External Storage Systems Market Growth Contributed by Increased Investments from Banking and Telco Players in Q2 2017
India’s external storage market witnessed a growth of 8.6 percent year-on-year (YoY) (in vendor revenue) and stood at $ 70.0 million in Q2 2017 as per IDC’s latest Asia/Pacific Quarterly Enterprise Storage Systems Tracker, Q2 2017.
Significant spending from banking and telecommunication verticals drove incremental growth in the external storage market. Banking, professional services, telecommunications, manufacturing and government continue to be the key contributors in Q2 2017. Increased acceptance of third platform technologies are pushing organizations to deploy new age storage solutions to address dynamic storage demands.
Increased uptake of All Flash Arrays(AFA), Hyper converged infrastructure and Software defined Storage are the key technology trends witnessed in the market. In addition, all the global cloud providers and 3rd party datacentre players are investing heavily to tap the increased uptake of cloud solutions.
In this situation, the market saw an upset where HPE displaced Dell Inc and emerged as market leader with a 32.4 percent market share in Q2 2017. Large deals from Banking and telecommunications drove the growth for HPE. IBM and Dell Inc witnessed a double-digit YoY decline while HPE and NetApp saw a high double-digit YoY growth in Q2 2017.
IDC India Forecast
The external enterprise storage systems market is expected to grow in single digit in terms of compound annual growth rate (CAGR) for 2016 – 2021 time-period. Increased external storage spending is expected from banking and government sectors in the coming quarters. Emergence of SMAC technologies, IOT, machine learning, artificial intelligence, big data, etc. across verticals would rise demand for new storage technologies in near future.