Worldwide Archiving Software Forecast, 2017–2021: Generating Growth Through Higher-Value Engagements
This IDC study includes projected spending on both licensed and subscription-based archiving and public cloud archiving services. In 2016, archiving software sales were approximately $1.6 billion, representing 10% of the $15.7 billion storage software market. IDC expects the archiving market to reach $2.2 billion in spending by 2021, representing a compound annual growth rate of 6.8%."The archiving software market is expected to exceed growth of the overall storage software over the next five years," said Andrew Smith, senior research analyst, Storage Software. "Archiving solutions remain critical to enterprises in highly regulated and litigious industries, and the value of archiving will grow as enterprises across all industries seek to generate more value from their data while keeping it secure and compliant. Cloud and SaaS solutions will remain the most important growth drivers in the archiving market. Our forecast indicates that public cloud services–based archiving software revenue will surpass on-premise archiving revenue in 2018. We expect public cloud/SaaS archiving solutions to account for 60% of total market revenue by 2021."
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