Symantec Upgrades Storage Software Products, Announces New Pricing Scheme

November 1st, 2011 by Trefis Team
SYMC: Symantec Corp logo
SYMC
Symantec Corp

Symantec (NASDAQ:SYMC) announced significant upgrades to its Storage and Availability Management line of software products. [1] Using Symantec’s storage and availability software, customers can create and manage virtual private clouds with high security and availability. Symantec is one of the largest players in the Storage and Availability software market, where it competes with EMC (NYSE:EMC), IBM (NYSE:IBM), NetApp (NASDAQ:NTAP), HP (NYSE:HPQ), VMware (NYSE:VMW) and others.

Storage software is the largest source of revenue for Symantec and also accounts for more than 40% of its total Trefis price estimate. We currently have a $20 Trefis price estimate for Symantec, which is roughly 20% above its market price.

See our full analysis for Symantec

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Continued Product Upgrades, New Pricing Scheme to Drive Symantec’s Growth

Some of the major products that Symantec upgraded are

1. Veritas Storage Foundation: A complete storage management system.
2. Veritas Cluster Manager: A high-availability cluster software compatible with Windows, Unix and Linux.
3. Veritas Operations Manager: A management platform which lets you control and maintain the Storage Foundation and Cluster Manager environments, scale operations and improve efficiency.

Symantec also released upgrades for the Veritas Cluster file system, Symantec HA – a high availability solution for VMware, and Veritas Replicator, a file based replication solution.

Besides these upgrades, it also announced a new Virtual Business Service feature, which allows customers to manage the server, application and database tiers and automate their recovery, testing and management.

Finally, it also announced a new usage based pricing model, under which customers pay based on their usage, not a fixed amount. This new pay-as-you-go pricing model should help Symantec attract new customers who are currently using competing products, but looking for alternative solutions.

We expect Symantec’s share in the global storage software market to increase to 18.6% by the end of the forecast period.

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Notes:
  1. Symantec Upgrades Storage Management Products, Information Week [↩]