According to IDC, India and China branded tape drive markets are projected to grow despite the declining branded tape drive market in the region. The APEJ market is expected to decrease to $251.7 mln by 2009, which represents a 2004-2009 compound annual growth rate (CAGR) of -0.5%. India and China, however, are expected to see their markets increase in shipment values over the same period. IDC predicts that India's branded tape drive market, which stood at $36.4 mln in 2004, will increase to $38.1 mln in 2009, indicative of a CAGR of 0.9%. Meanwhile, China is predicted to grow from $40.9 mln in 2004 to $41.2 mln in 2009, which translates to a CAGR of 0.1%. The single tape drive storage market in APEJ was estimated at $257.7 mln in 2004, representing a 3.3% year-on-year growth over 2003. Australia led the market with a 22.4% share by shipment value. China trailed at 15.9% and India ranked third, accounting for 14.1% of the market. Indonesia emerged as the country that grew by the largest margin at 81.9%.
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