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The purposebuilt backup appliance market to exhibit significant growth from 2018 to 2024
The purposebuilt backup appliance market is expected to grow from USD 5.2 billion in 2019 to USD 8.6 billion by 2024, at a CAGR of 10.6%. The growth of this market can be attributed to the growth of the IoT market, stringent rules and regulation of about data protection and data security such as GDPR General Data Protection Regulation, and increasing awareness among enterprises to focus on data protection. However, the availability of costeffective substitutes is expected to restrain market growth.
Hardware component has higher market share than software component of the purposebuilt backup appliance market
The market for the hardware component of the purposebuilt backup appliance market is expected to have a higher market share than a software component from 2019 to 2024. Generally, the hardware of the purposebuilt backup appliance is either repaired or replaced when damaged, whereas the software of the purposebuilt backup appliances are upgraded whenever the newer version is released. The hardware market is larger than the software market as hardware appliances are installed in most of the enterprises for the quick onpremise backup.
Open system is likely to have a larger market share in purposebuilt backup appliance market than mainframe system
Open system PBBAs are easily adaptable to any IT environment. The open hardware and software standards of the open system make it easier to install to any enterprise and can scale as per the requirement. Most of the Telecom IT companies are relying on open system IT architecture. Adoption of open system architecture by telecom IT, manufacturing, retail, and healthcare verticals drives the market for the open system PBBAs.
APAC to be the fastestgrowing market for purposebuilt backup appliance during the forecast period
Among all regions, the market in APAC is expected to grow at the highest rate between 2019 and 2024. The growth of the market in this region is attributed to the technological innovation and increasing adoption data protection and data security policies in telecom IT, BFSI, and manufacturing verticals. The APAC region is the manufacturing hub of the world. There are several telecom, IT, banking, and manufacturing giants in the APAC region. Also, the emerging economies such as China and India, offer attractive tax benefits for the small and midlevel enterprise to ease small enterprise setup. Favorable government policies for small and midlevel enterprise, increasing awareness of data protection and data security among BFSI, Telecom, and IT companies is driving the growth of the PBBA market during the forecast period.
The breakup of profiles of primary participants for the report:
By Company Type Tier 1 50%, Tier 2 30%, and Tier 3 20%
By Designation CLevel Executives 70%, Directors 20%, and Others 10%
By Region North America 35%, Europe 25%, APAC 25%, and RoW 15%
The key players operating in the purposebuilt backup appliance market are Dell Inc. US, NetApp, Inc. US, IBM Corporation US, Oracle Corporation US, Fujitsu Limited Japan, Commvault Systems, Inc. US, Veritas Technologies LLC US, Hewlett Packard Enterprise Company US, Quantum Corporation US, Barracuda Networks, Inc. US, Hitachi Vantara Corporation US, and Arcserve LLC US among many others.
This global purposebuilt backup appliance market has been segmented based on component, system, enterprise, vertical, and geography. The purposebuilt backup appliance market based on component has been segmented into hardware and software. The purposebuilt backup appliance market based on the system has been segmented further into mainframe and open. The purposebuilt backup appliance market by the enterprise is segmented into large enterprise and small and midlevel enterprise. The vertical segment of the purposebuilt backup appliance consists of telecom IT, BFSI, manufacturing, retail, healthcare, media and entertainment, government, and others. The purposebuilt backup appliance market, by geography, has been segmented into four regionsNorth America, Europe, Asia Pacific APAC, and Rest of the World RoW.
Reasons to Buy the Report:
Illustrative segmentation, analysis, and forecast for markets based on component, system, enterprise, vertical, and region have been included to give an overall view of the purposebuilt backup appliance market.
Major drivers, restraints, opportunities, and challenges for the purposebuilt backup appliance market have been detailed in this report.
The report includes detailed information on the competitive landscape, along with key players, indepth analysis, and revenue of key players.
Original Article: Purposebuilt Backup Appliance PBBA Market by Component Hardware, Software, System Mainframe, Open, Enterprise Large, Small and Midlevel, Vertical Telecom IT, BFSI, Manufacturing, Retail, Healthcare, and Geography Global Forecast to 2024 [Published by MaNEXT ARTICLE
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