The launch of a new, sustainable hybrid cloud data platform has fueled Hitachi Vantara’s market share. In the first fiscal quarter of 2024, the company experienced a 27 percent increase in quarter-over-quarter product revenue growth compared to Q1 FY23, well over the market CAGR of 11.31%. In the US, revenue growth was even higher, reaching a whopping 54 percent, during the same period.
The robust revenue numbers build on Hitachi Vantara’s previous success in the overall storage market. From 2022 to 2023, the company realized a +9.2 percent rise in revenue in the external storage system market, the second highest increase of the top eight companies reviewed in an IDC report.
Infrastructure Constraints Drive Hybrid Cloud Adoption
The market growth stems from the need to control and govern increasing quantities of data. Businesses are struggling to manage complex infrastructure environments and ever-accelerating data storage needs. One study found that IT leaders predict the amount of data they use will double by 2025, reaching the point where large enterprises will need to store more than 65PB of data. The same study found that 60 percent of IT managers are already overwhelmed with the amount of data they store, and 75 percent fear their current infrastructure won’t scale to support future data needs.
Hitachi Vantara has risen to the challenge. The company has built a portfolio of high-performance, reliable, scalable solutions that allow enterprises to enhance the data infrastructure, leverage automation, and reap cost savings. The proof lies in Hitachi Vantara’s leading position in the data storage market.
Game Changer: Hybrid Cloud Management
The recent introduction of the Hitachi Virtual Storage Platform (VSP) One has been a game changer. Available for block, file, and SDS cloud storage, VSP One is a simplified, streamlined hybrid cloud management solution. It supports mission-critical applications, while removing infrastructure complexity. It ensures high data availability, resiliency, and reliability, while minimizing the risk of downtime, security breaches, and lost productivity.
Hitachi Vantara Creates a Path to Success for Partners
Hitachi VSP One launched in April 2024, and 65 organizations already have become customers. Hitachi Vantara’s partners are benefitting, too. In Q1 FY24, the partner network reported 106 percent growth in annual operating profit and 38 percent revenue growth year over year. VSP One has provided Hitachi’s strategic partners with a stronger value proposition and path to greater success.
“Partner success is integral to our growth, and the remarkable results from Virtual Storage Platform One underscore this perfectly,” says Kimberly King, senior vice president of strategic partners and alliances at Hitachi Vantara, in a recent release. “Virtual Storage Platform One not only advances our partner program attributes of trust, profit, and sustainability, but it also empowers our partners to enhance their value propositions and achieve substantial growth.”
Integrated Sustainability
VSP One helps companies reduce their carbon footprint through integrated sustainability features. Dynamic Carbon Reduction technology lowers energy consumption by switching CPUs to an eco-mode when possible, and always-on compression further cuts energy consumption by switching the system from inline data reduction to post processing.
The VSP One system earned top rankings from both ENERGY STAR and EcoVadis for incorporating technologies that can lower carbon emissions by as much as 40 percent.
Find out more about Hitachi Vantara’s data storage and hybrid cloud offerings.
Image credit: Hitachi Vantara