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India tape drives market set to grow: IDC
By agencies
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Friday, 01 July 2005, 19:30 IST
NEW DELHI: Citing the trend of a shrinking branded tape drive market in the Asia- Pacific region, India is expected to see its market grow in shipment values over 2005-2009, according to research firm IDC.
As per IDC's Asia-Pacific, Branded Tape Drive 2005-2009 forecast, the market is expected to decrease to $251.7 million by 2009, which represents a 2004-2009 compounded annual growth rate (CAGR) of -0.5 percent.
On the other hand, India's branded tape drive market, which stood at $36.4 million in 2004, would increase to $38.1 million in 2009, indicative of a CAGR of 0.9 percent, says report.
The report states that, the growth rate in India is significant in the face of declining growth in the region's branded tape drive market. Due to the sheer size of their internal markets, the countries in a region that is expected to see an overall decline in tape drive sales, including China.
The decline is largely attributed to businesses' consolidation of storage infrastructure, gravitation towards fewer but higher-capacity tape drives and tape automation systems, as well as the increased use of disk-based systems that provide near line back-up recovery capability. Storage vendors need to include these countries in their agendas if they are to tap into the abundant business opportunities available," told Jack Yu, Market Analyst, Storage Research at IDC Asia/Pacific.
The single tape drive storage market in the region was estimated at $257.7 million in 2004, representing a 3.3 percent year-on-year growth over 2003, India was ranked third ranked third, lead by Australia and China accounting for 14.1 percent of the market.