Symantec Revamps Network Storage Appliance; Jumping All Over Storage Market
Symantec (NASDAQ:SYMC), one of the biggest storage systems provider, recently announced that it has added new features to the latest version of Symantec FileStore N8300, its clustered network attached storage (NAS) appliance. [1] Symantec competes primarily with EMC (NYSE:EMC), IBM (NYSE:IBM), NetApp (NASDAQ:NTAP) and HP (NYSE:HPQ) in storage software. We estimate that Symantec currently has around 18% share in the global storage software market, and expect it to increase marginally by the end of the forecast period. We expect the global storage software market to be worth almost $19 billion by 2018.
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We have a $22 Trefis price estimate for Symantec, which stands nearly 15% above its current market price. Storage software contributes to nearly 40% of our Trefis price estimate for Symantec.
Symantec FileStore Comes with a Host of New Features
Symantec FileStore now comes with de-duplication for primary data, support for more cluster nodes and virtual machine cloning. Filestore is now VMware certified, and comes with VMware vCenter integration. Using Filestore, customers can now clone their virtual machine images with de-duplication. Overall, the new version of Symantec FileStore stores data more efficiently, and scales much better with support for up to 16 nodes or 2 petabytes in total capacity. It also integrates with other Symantec products like Symantec Enterprise Vault for storage and archiving, Symantec NetBackup for backup and Symantec antivirus for security, which could lead to additional cross selling opportunities for Symantec’s other offerings.
Symantec recently launched upgrades to its entire line of storage software products, and also announced a new pricing scheme which allows customers to pay based on their usage.
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Notes:- Symantec Improves NAS Appliance, Information Week [↩]