Global software market in Q2 2008 reached $3.1 bln

According to IDC, the worldwide storage software market experienced its 19th consecutive quarter of YTY growth in Q2 2008 with revenues of $3.1 bln, a 14.2% increase over Q2 2007. This was the first time that the worldwide storage software market surpassed $3 bln in revenues in Q3 2008. The overall storage software market grew at a faster rate in the second quarter than in the usually slow first quarter of the year. The year-over-year growth for 2Q08 was 14.2% compared to 9.4% for Q1 2008. Most of the top vendors experienced accelerated growth in the second quarter, which helps to explain the strong Q2 results.