Dublin, Sept. 18, 2019 (GLOBE NEWSWIRE) -- The "Purpose-built Backup Appliance (PBBA) Market by Component (Hardware, Software), System (Mainframe, Open), Enterprise (Large, Small and Mid-level), Vertical, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
- 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 purpose-built backup appliance market.
- Major drivers, restraints, opportunities, and challenges for the purpose-built backup appliance market have been detailed in this report.
- The report includes detailed information on the competitive landscape, along with key players, in-depth analysis, and revenue of key players.
The purpose-built 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 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 cost-effective substitutes is expected to restrain the market growth.
The key players operating in the purpose-built 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.
Hardware component has higher market share than software component of the purpose-built backup appliance market
The market for the hardware component of the purpose-built backup appliance market is expected to have a higher market share than a software component from 2019 to 2024. Generally, the hardware of the purpose-built backup appliance is either repaired or replaced when damaged, whereas the software of the purpose-built 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 on-premise backup.
Open system is likely to have a larger market share in purpose-built 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 fastest-growing market for purpose-built 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 telecoms, 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 mid-level enterprise to ease small enterprise setup. Favorable government policies for small and mid-level 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.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Purpose-Built Backup Appliance Market
4.2 Purpose-Built Backup Appliance Market, By System (2019-2024)
4.3 Purpose-Built Backup Appliance Market, By Enterprise (2019 & 2024)
4.4 Purpose-Built Backup Appliance Market, By Vertical (2018 & 2024)
4.5 Purpose-Built Backup Appliance Market, By Region (2019-2024)
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Increasing Awareness and Focus of Enterprises on Data Protection and Recovery Infrastructure
5.1.1.2 Stringent Rules and Regulations About Data Protection and Data Security
5.1.1.3 Growth of the IoT Market
5.1.2 Restraints
5.1.2.1 High Cost Associated With Storage and Backup Technology and Availability of Cost-Effective Substitutes
5.1.3 Opportunities
5.1.3.1 Virtualized PBBAs
5.1.3.2 Increasing Need for Data Analytics
5.1.4 Challenges
5.1.4.1 Convenient Cloud Storage Solutions Threaten the Purpose-Built Backup Appliance Market
6 Purpose-Built Backup Appliance Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
7 Purpose-Built Backup Appliance Market, By System
7.1 Introduction
7.2 Mainframe Systems
7.3 Open Systems
8 Purpose-Built Backup Appliance Market, By Enterprise
8.1 Introduction
8.2 Small and Mid-Level Enterprises
8.3 Large Enterprise
9 Purpose-Built Backup Appliance Market, By Vertical
9.1 Introduction
9.2 Telecom and It
9.3 Manufacturing
9.4 BFSI
9.5 Healthcare
9.6 Retail
9.7 Media and Entertainment
9.8 Government
9.9 Others
10 Purpose-Built Backup Appliance Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Rest of Europe
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Rest of APAC
10.5 Rest of the World (RoW)
10.5.1 Middle East and Africa
10.5.2 South America
11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis of Purpose-Built Backup Appliance Market Players
11.3 Purpose-Built Backup Appliance Market (Global) Competitive Leadership Mapping, 2018
11.3.1 Introduction
11.3.1.1 Visionary Leaders
11.3.1.2 Dynamic Differentiators
11.3.1.3 Innovators
11.3.1.4 Emerging Companies
11.3.2 Competitive Leadership Mapping
11.4 Purpose-Built Backup Appliance Market (Global) Competitive Scenario
11.4.1 Product Launches
11.4.2 Partnerships
12 Company Profiles
12.1 Key Players
12.1.1 Dell
12.1.1.1 Business Overview
12.1.1.2 Products & Services Offered
12.1.1.3 Recent Developments
12.1.1.4 SWOT Analysis
12.1.2 Hewlett Packard Enterprise (HPE) Company
12.1.3 IBM
12.1.4 Oracle
12.1.5 Hitachi Vantara Corporation
12.1.6 Netapp
12.1.7 Fujitsu
12.1.8 Quantum
12.1.9 Veritas
12.1.10 Commvault
12.2 Other Key Players
12.2.1 Barracuda Networks
12.2.2 Veeam
12.2.3 Rubrik
12.2.4 Storserver
12.2.5 Cohesity
For more information about this report visit https://www.researchandmarkets.com/r/lnjmr
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