Symantec (NASDAQ:SYMC) has released new versions of its storage and backup software – Backup Exec 2012 and NetBackup 7.5 – for large enterprises.   It also launched Backup Exec Small Business Edition to target the growing market for storage software for SMBs. Symantec competes primarily with EMC (NYSE:EMC), IBM (NYSE:IBM), NetApp (NASDAQ:NTAP), Hewlett-Packard (NYSE:HPQ) in enterprise storage software. Storage software is its most valuable business, and accounts for more than 40% of its total $21 Trefis price estimate, which stands nearly 20% above the current market price.
Symantec Aims to Improve Storage Software Market Share with New Updates
Backup Exec 2012 comes with an improved user interface and advanced configuration features which make it easier for users to automate, monitor and manage backups. It supports both virtual and physical environments, and provides a unified backup and storage solution. It also offers access to a cloud-based backup service for seamless backups and recovery.
NetBackup 7.5 offers faster backups and instant recovery features with deduplication abilities to manage replicated data effectively. It also includes support for many leading cloud storage vendors, as well as virtual and physical machines.
Amit Walia, Vice President, Information Management Group, Symantec, said:
Backup is a critical part of a protection strategy, and with mounting digital assets and shrinking IT budgets, growing organizations need to find a way to keep costs down without compromising availability of their information. With close to two million businesses worldwide trusting in Symantec Backup Exec, it is our responsibility to help IT professionals and small business owners become backup heroes,
We expect Symantec’s share in the storage software market to show a marginal increase over our forecast period.Notes: