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Dave Raffo, an analyst with market researcher Evaluator Group, said enterprise storage revenue, overall, held strong in 2022. “Flash and hard disk drive capacities are growing, and storage system sales are increasing from a revenue standpoint.”
Raffo pointed to Q3 earnings reports from vendors such as Pure Storage, Nutanix, Dell, HPE and NetApp, which reported revenue increases as high as 20% in the case of Pure. Those companies haven’t reported Q4 results yet. But enterprise vendors tend to produce their best revenue results in the final quarter when customers spend their remaining budgets, Raffo noted.