SRM Market to Grow at 6% CAGR Over 2012-2016

Research and Markets announced the Global Storage Resource Management Market 2012-2016 ($2,000) report.

TechNavio‘s analysts forecast the global SRM market to grow at a CAGR of 6.32% over the period 2012-2016.

One of the key factors contributing to this market growth is the increase in volume of enterprise data. The global SRMt market has also been witnessing the availability of cloud storage solutions. However, the increase in operational cost could pose a challenge to the growth of this market.

The key vendors dominating this market space are EMC Corp., Hewlett-Packard Co., IBM Corp., and NetApp Inc.

The other vendors mentioned in the report are Symantec Corp., Hitachi Ltd., SolarWinds Inc., Cisco Systems Inc., Aptare Inc., Virtual Instruments Corp., Storage Fusion Ltd., Brocade Communications Systems Inc., and CA Technologies Inc.

Commenting on the report, an analyst from TechNavio’s Enterprise Computing team said: "Many companies are facing the challenge of effectively managing their data growth while keeping their costs down. The availability of the cloud-based SRM model helps companies overcome this challenge. Generally, the cloud comprises various scalable technologies, servers, controllers, and software, which will be combined to form a cloud of storage. With this model, it is easy to acquire data from various sites that are geographically discrete, arrange them into the rational partitions of storage, and replicate these partitions. After the replication, the combined storage can be firmly offered to each group through a global platform that is accessible over the network. Since the pricing of this model is on a subscription basis, many companies, especially small and SMEs, find that this is a cost-effective model for managing their data storage requirements."