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External Storage Systems Market Witnessed a Growth of 8.6 Percent YoY

India’s external storage market witnessed a growth of 8.6 percent YoY (in vendor revenue) and stood at USD 70 million in Q2 2017 as per IDC. 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 acceptances of third-platform technologies are pushing organizations to deploy new age storage solutions to address dynamic storage demands.

The high-end storage segment witnessed a high double-digit YoY growth in Q2 2017 due to large deployments from banking and telecommunication verticals. The mid-range storage and entry-level external storage segment saw a marginal de-growth YoY in Q2 2017.

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 third party datacenter players are investing heavily to tap the increased uptake of cloud solutions.

HPE displaced Dell Inc and emerged as the 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.

The external enterprise storage systems market is expected to grow in single digit in terms of compound annual growth rate (CAGR) for the 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 raise the demand for new storage technologies in the near future.

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