NetApp has been a major player in the storage systems market over the years. NetApp’s hardware-independent single operating system for storage products (Data ONTAP), ease of deployment and an active sales channel helped it gain share in the market. As a result, NetApp’s market share in the external storage systems market rose from 11.1% in 2010 to about 12.8% in 2014. Correspondingly, the revenue generated by sales of storage systems grew at a CAGR of over 7% in the same period to $3.1 billion in 2014.
Subsequently, a slowdown in global expenditures on IT hardware through 2014 and 2015 led NetApp’s storage product revenues to fall. Moreover, the presence of small vendors – such as flash storage startups – disrupted the industry by introducing cheaper white-box storage products. Over the last two years, customer preference has shifted to low-cost original design manufacturer storage boxes, which has cut into the addressable market for large vendors. As a result, most large vendors lost share in the storage systems market through 2014 and 2015. This trend is likely to continue over the next couple of years.

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