Purpose-Built Backup Appliance Market Competition, Growth Prediction
The CAGR for the purpose-built backup appliance market is expected to be 15% from the years spanning 2017 to 2023.
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Market Research Future (MRFR) in its latest “Purpose-Built Backup Appliance Market” report, reveals that the global market of purpose-built backup appliance (PBBA) holds great potential to proliferate. MRFR in its report states that the market is expected to register a CAGR of about 15% and increase to a valuation of about USD 10 Billion by 2023. The feasibility of installation of purpose-built backup appliances in backup environments without any significant architectural alterations are expected to be the primary cause to underpin the expansion of the growth of the worldwide market of PBBA.
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Often due to heavy workload, systems can crash. The need to for preservation of data is crucial. The utility of PBBA lies herein. The increase in the installation of PBBA across organizations is surging as the need for preventing data loss during system failure is rising. Hence, the expansion of the worldwide market of PBBA is likely to make high profits. Cyber threats and data breach incidences are increasing. The ability of PBBA to provide encryption in case of security breach is expected to be another factor that can boost the growth of the global market. Deduplication of data removes redundant copies of stored information, leading to high availability of storage space and reduced cost. The advantage of deduplication provided by PBBA is expected to expand the growth of its market across the years of assessment. Additional factors that are expected to contribute to the expansion of the PBBA market are seamless installation procedures and ease of maintenance of purpose-built backup appliances.
The prominent players in the global Purpose Built Backup Appliance Market are – Dell Inc. (U.S.), Oracle Corporation (U.S.), Axcient Inc. (U.S.), Barracuda Network Inc. (U.S.), Arcserve LLC (U.S.), International Business Machines Corporation (U.S.), Hitachi Data Systems Corporation (U.S.), EMC Corporation (U.S.), Commvault Systems Inc. (U.S.), Quantum Corporation (U.S.), Hewlett Packard Enterprise Company (U.S.) among others.
The market of purpose-built backup appliance is studied in segments, which help in deriving a better understanding of the market. It also aids investors to identify growth opportunities of the market and profit-making areas of the market. There are parameters based on which the global PBBA market has been studied. They are products, end-users, and components. By products, the market is segmented into mainframe systems, open systems, and others. By components, the market is segmented into services, hardware, software, and others. By end-users, the market is segmented into government & defense, BFSI, healthcare, IT & telecommunications, and others.
Detailed Regional Analysis
By region, the purpose-built backup appliance market has been analyzed across Americas, Europe, Asia-Pacific and the Rest of World (RoW). In North America, the market of purpose-built backup appliance is expected to experience surge in the review period owing to the increase in need for better backup management. The US is anticipated to contribute largely to the expansion of the regional market. This is due to the growing demand for backup software, such as Rapid Data Access that enables faster backup and has in-built media servers into the system. The PBBA market in Europe is expected to show sharp rise due to the increase in the adoption of purpose-built backup appliance by enterprises in the region. Fast-paced industrialization and growing urban populace are factors that are expected to propel the growth of PBBA market in Asia Pacific.
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Purpose-built backup appliance manufacturing companies
Original equipment manufacturers
Purpose-built backup appliance providers
Research and development companies
Market research and consulting firms
Technology standards organizations
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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