History 2002: SRM Software Market Surpasses Estimates

The SRM software market grew 27.6% between 2000 and 2001 to reach $1.8 billion.

IDC, in its forecast for 2002 entitled Worldwide SRM Software Forecast, 2002- 2006, believes this strong performance will continue over the next five years as the SRM market is expected to surpass $4.6 billion in revenue by 2006.

The research firm attributes part of the increased desire for SRM capabilities to growing organizational concern for controlling employee personal use of enterprise storage.

“This has led to more spending on quota management, monitoring, and reporting software that could help manage or prohibit this type of usage,” says Bill North, director for IDC’s storage software service.

In addition to wanting to manage employee use, companies are also looking towards SRM software as a way to reduce costs, improve efficiency, and make better use of their existing storage resources. SRM software provides simplification and automation to an already complicated task of managing storage systems.

This article is an abstract of news published on issue 174 on January 2002 from the former paper version of Computer Data Storage Newsletter.