Global storage resource management market: 6% CAGR between 2012 and 2016

The Global Storage Resource Management market is to grow at a CAGR of 6.32 percent 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 Storage Resource Management 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.

Many companies are facing the challenge of effectively managing their data growth while keeping their costs down. The availability of the cloud-based storage resource management (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 medium-sized enterprises (SMEs), find that this is a cost-effective model for managing their data storage requirements.

The demand for SRM solutions continues to be driven by the increase in regulatory compliance and the need for greater savings through back-office automation. The fear of legal liability associated with compliance requirements is the major reason forcing organizations to adopt SRM solutions. Most of the content, including office documents, emails, and electronic document transaction records, is unmanaged in most organizations, which increases the demand for efficient storage management systems. SRM generates process documentation that helps organizations validate adherence to standards. This is driving the growth of the Global SRM 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.

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