External storage market in India declines 15.6% in Q4 2020: IDC

External storage market in India declines 15.6% in Q4 2020: IDC

India’s external storage market registered a dip of 15.6% year-over-year by vendor revenue, and stood at $77.1 million in Q4 2020 (Oct-Dec), according to the IDC Worldwide Quarterly Enterprise Storage Systems Tracker report.The full-year decline for the external storage market in India during 2020 (Jan-Dec) was 21.8%.

According to the report, the decline in storage spending was due to the shrunk spending from banking organisations. Interestingly, spending in areas such as manufacturing, central government and security, and investment services saw a growth in Q4 2020.

Researchers predict the external storage will grow at a single-digit compounded annual growth rate for the 2020-25 period. IDC says the external storage systems spending will recover and grow YoY in CY 2021.

News Source: Hindustan times

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