Neverfail, software company that provides affordable continuous availability and disaster recovery solutions, today announced that the company grew by 61 percent during the company’s fiscal year ending March 31. Neverfail’s 2007/8 growth far exceeded market expectations for host-based storage replication, which IDC estimated at 25.4 percent growth over 2006. The overall storage replication market for 2007 was $2.66 billion worldwide with host-based replication accounting for 11.5 percent or $305 million, according to IDC1.

“The host-based replication market shows strong adoption in particular for deployments in mid-size businesses, departmental applications in larger enterprises and remote and branch office deployments. While the entire storage replication market shows strong projected growth rates with a 13.6% CAGR between 2006 and 2011, of note, the host-based replication segment is outpacing the overall market growth with a 21.8% CAGR over the next five year period,” said Laura DuBois, Program Director for Storage Software at IDC. “Neverfail is a company capitalizing on this opportunity with solid go-to-market execution, application integration and virtualization support.”

“After a little more than a year as Neverfail’s CEO, our growth has beat even the high expectations I had set and I couldn’t be more pleased,” said Peter Parker, Neverfail Group CEO. “It is notable that our fourth quarter growth was up by 93 percent over the same period last year – clearly, the changes we’ve made in the last year are bearing fruit. We remain committed to our vision of creating a world where business applications are continuously available.”