Higher spends by banks, govt driving India's storage solution market: IDC

NEW DELHI: India's external storage solution market grew by 17.5 per cent to $ 77.8 million in October- December 2016 compared to the preceding quarter, driven by higher spends by banks and government, as per research firm IDC.

Sectors like banking, professional services, manufacturing and government continued to be the key contributors in the last quarter of 2016, IDC said in a report.

The growth was driven by renewal of deals by large banks as well as increasing adoption of analytics and UPI platforms (that in turn increases storage consumption), it added.

Significant growth was witnessed in verticals such as securities, transportation, education and insurance, which drove incremental storage revenues in the said quarter, the report added.

EMC led the market with 27 per cent share, followed by Hewlett Packard Enterprise (19 per cent), IBM (14 per cent) and Dell (12 per cent).