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International Business Machines Corp. (IBM - Free Report) recently launched a new storage software solution called IBM Spectrum Protect Plus that is aimed at easing the process of data protection and recovery.

The new data recovery system targeted at virtual machines (VM) and application administrators provides data availability using snapshot technology for rapid backup and data management. The set-up will also provide data clone functionality to regulate DevOps systems. This new software also offers data protection and monitoring based on automated Service Level Agreements to provide backup status and support retention compliance.

There are two different deployment options available, one as stand-alone software installed in virtual environments and the other one integrated with IBM’s Spectrum Protect software, which is already in the market. The overall impact of the software is to simplify data protection and transfer in cloud, data centers and virtual environments.

IBM has lost 11.9% of its value year to date compared with 10.8% loss of its industry.


 

IBM’s Presence in Data Storage and Security Market

Per MarketsandMarkets, the next-generation data storage market is anticipated to reach $144.76 billion by 2022, at a compound annual growth rate (CAGR) of 16.76%. The growth is primarily attributed to ever increasing volume of digital data as the smartphones, tablets and Internet of Things (IoT) market continues to accelerate.

In a recent report by Allied Market Research, Data Protection as a Service (DPaaS) market is expected to reach $28.88 million by 2022, exhibiting a CAGR of 31.5% during 2016–2022.

IBM is already a prominent name in the data storage and protection market with its Security Guardium, Spectrum Storage software suites being the notable ones in the concerned segment. With the launch of the recent product, IBM has strengthened its position as it offers both storage and security benefits.

We believe the company’s software solution mix coupled with the expansion of its artificial intelligence (AI) platform Watson and emerging blockchain technology will be beneficial for IBM’s top-line growth in the long run and also provide it a competitive edge against peers like Microsoft (MSFT - Free Report) and Oracle.

Zacks Rank and Stocks to Consider

IBM currently has a Zacks Rank #3 (Hold).

Applied Materials, Inc. (AMAT - Free Report) and Applied Optoelectronics (AAOI - Free Report) are two top-ranked stocks worth considering in the broader sector. Both of them sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate projected for Applied Materials and Applied Optoelectronics is 16.58% and 17.5%, respectively.

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