Symantec to bet on data archival biz
The US-headquartered global security software maker Symantec Corporations is increasing its India focus. The company is targeting data archiving and information management as its prime verticals on which it is looking to build its India growth story.
Thomas Kendra, group president, security and data management group, Symantec said that the archiving market was growing at nearly 20% CAGR. He said that the estimates suggest that only 15% of mailboxes that need to be archived were currently being done so by the corporates, which proves that there was a lot of market share left to be captured more so in India.
The company is also looking at its information management to be another core growth vertical. IDC has predicted that the archiving and HSM (hierarchical storage management) market would grow from a little more than a $600 million in 2005 to $1.7 billion in 2010, because of the mounting need for storage solutions that support regulatory compliance and litigation demands.
Another recent report says that the content and data management software market in Asia-Pacific excluding Japan is expected to grow at a five-year CAGR of 16.6% to cross the $200-million-mark by 2010, with India poised to post the highest growth rate within the region at 27.7%.
This work is being outsourced to India, which makes the data security a top priority of Indian companies operating in this sector. This is where the opportunity lies for Symantec Corporations to deploy its end-to-end solutions in data security. The same is true for manufacturing sector where Indian companies are seeing a considerable market from the likes of European and US markets.
