The company forecasts enterprise storage revenue in Australia to decline by 7.5% Y-o-Y in 2020, following the ICT spending cuts seen among enterprises in response to the COVID-19 crisis. Slowdown or postponements of new office set-ups due to the pandemic will also have a negative impact on the market during the year. Nidhi Gupta, the Technology Analyst at GlobalData, explained for Finbold: In addition, with more and more enterprises beginning to rely on cloud services, the demand for storage in the coming years will emerge from cloud service providers and data center companies.
The demand for remote accessibility
While storage hardware/resources has been the largest revenue contributing segment for the overall storage market in Australia and will remain so through the forecast period, there has been a growing traction towards software defined storage platforms and applications in recent times. Benefits such as freedom from hardware vendor lock-in, remote accessibility, high level of flexibility and scalability of storage power, and interoperability with legacy storage infrastructure are driving the popularity of software defined storage market in the country. Ms. Gupta concludes: “Although SMEs will continue to generate majority share of revenues for enterprise storage market in Australia through 2024, large enterprises, given their long-term digital transformation strategies and high capacity storage requirements, will be the fastest growing segment for enterprise storage in the country.”
