Purpose Built Backup Appliance Market Projected To Grow by 2023

Posted by Minakshi on February 3rd, 2021

Market Study

Market Research Future (MRFR), in its latest report on purpose Built Backup Appliance Market 2020 reveals influencers that prompt the market growth. The purpose built backup appliance industry is expected to witness rise through the review period. The purpose built backup appliance (PBBA) industry can earn high revenue in the assessment period, states MRFR. As per MRFR study the world purpose-built backup appliance can expand at about 15% CAGR through 2017 to 2023. The purpose built backup appliance (PBBA) market value is expected to touch above USD 10 Bn on the conclusion of the evaluation period. The expansion of the purpose built in backup market can be credited to the increased focus of enterprises on data protection solutions and data recovery. Plus, regulations related to data protection and security and the release of GDPR policy, along with the increase in the implementation of IoT can boost the expansion of the global market of purpose built backup market.

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Market Segmentation

The segment study of the purpose-built backup appliance global market is based on end users, products, and components. The products based segments of the purpose built backup appliance market are mainframe systems and open systems among others. The component based segments of the purpose built backup appliance are services, hardware, and software among others. The end users based segments of the purpose built backup appliance market are IT & telecommunications, BFSI, healthcare government & defense, and others. PBBA hardware are actively meeting businesses requirements. The rise in the implementation of PBBA due to pressing for increased capacity can underpin the expansion of the market.

Regional Study

The regional study conducted by MRFR on the purpose built backup appliance market reveals that North America can head in terms of market size. The introduction of HybriStor, a next generation solution for data protection that possess PBBA capabilities can easily meet data recovery requirements for businesses is likely to support the expansion of the regional market. Benefits of these solutions, such as rapid recovery time objectives, recovery point objective, and feasibility to use next level solutions, followed by the delivery of industrial secondary storage solution can impel the expansion of the purpose built backup appliance market in the region.

In Europe, the purpose-built backup appliance market can grow exponentially. The growing need for explosive data growth resolutions supported by windows are witnessing high deployment across different organizations. This can improve the rise of EU purpose built backup appliance market, along with the growing awareness about advantages, such as curb in storage data transmission and rise in the consumption by duplicating, compressing data, and others. In APAC, the purpose built backup appliance market is observed to hold lucrative growth opportunities. The high demand for solutions that offer optimized data de-duplication can support the expansion of the purpose built backup appliance market in APAC. Ease of foreign investment in regions of APAC, such as India can also prompt the market growth.

Key Players

MRFR listed some well-established purpose-built backup appliance marketers. They are; Oracle Corporation (U.S.), Dell EMC (U.S.), Barracuda Network Inc. (U.S.), Axcient Inc. (U.S.), International Business Machines Corporation (U.S.), Arcserve LLC (U.S.), Commvault Systems Inc. (U.S.), Hitachi Data Systems Corporation (U.S.), Hewlett Packard Enterprise Company  (U.S.), and Quantum Corporation (U.S.) among others. Technological assistance and high investment in innovation can prompt the market rise. Along with the introduction of new products, key players are entering into partnership with giant tech companies to prompt the expansion of the global purpose-built backup appliance market in the review period.

About Market Research Future:

Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.

MRFR’s goal in providing a comprehensive coverage of the market replete with latest trends, niches, developments, and insights can be lucrative for business needs. We aim to push our clients to the forefront by guiding them with astute information for making informed decisions. Our market intelligence can track down key issues in industries and be modified as per the fluctuations in economic scenarios. The reports are customized and offered as per a specific region or country and adhere to latest policies.

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Joined: January 28th, 2021
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