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According to International Data Corporation (IDC) Asia/Pacific Quarterly Enterprise Storage Tracker, Indian external storage market witnessed a double-digit year-on-year growth (in vendor revenue) and stood at Rs 70.2 million in Q1 CY 2015.
Growth in the storage market was driven by government initiatives (like UID and e-governance projects) and large multi-million dollar technology refresh deals in the banking vertical. The market is expected to witness further growth due to increased storage demand from e-commerce companies, health care and online educational institutes coupled with the traditional verticals, in the coming quarters.
Also small and medium businesses are increasingly looking at deploying SaaS services like office 365, Salesforce, etc, which is expected to cannibalise the traditional storage system business to some extent in the coming quarters.
Communications, media, banking and professional services continue to be the dominant verticals in the space.
