A recent report published by Infinium Global Research on purpose-built backup appliance market provides in-depth analysis of segments and sub-segments in the global as well as regional purpose-built backup appliance market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional purpose-built backup appliance market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global purpose-built backup appliance market. According to the report, the global purpose-built backup appliance market is projected to grow at a CAGR of 10.8% over the forecast period of 2020-2026.
Purpose-built backup appliances (PBBAs) have been initial components to many organizations' backup/recovery infrastructure for over a decade. A PBBA is easy to configure such that plug-and-play by design and it can be added to any existing IT infrastructure. Normally, PBBAs probable set up as a target for backup data, with backup software running on a host server to schedule backups, initiate data transfers, and automated restores. In the case of an integrated backup appliance, that software is previously built into the backup hardware. PBBAs have become a cornerstone data protection technology for many organizations that are seeking to optimize and simplify backup and restore operations.
Increasing Awareness and Focus of Enterprises on Data Protection and Recovery Infrastructure is the primary driving factor for the purpose-built backup appliances market. Enterprise data protection is one of the most significant tasks for IT teams in both large and small organizations. Nowadays, companies are relying on data more than ever, thus security against loss, theft, and corruption is vital to success. Companies must remain vigilant to safeguard their assets due to the rise of data breaches. Failure to stay ahead of data threats will lead to breaches, tarnished reputations, and financial losses. For years, companies have to pay attention only to perimeter security to thwart data threats. Furthermore, stringent rules and regulations about data protection and data security, and growth of the IoT market are also driving the market growth. However, the high cost associated with storage and backup technology is restraining market growth. Moreover, the increasing need for data analytics provides growth opportunities to market players. The effects of COVID-19 have been quick and substantial on global data monetization. The pandemic has resulted in being a major disrupter, shifting the global dynamics. Manufacturing companies around the world are now focusing on developing plans to reduce the aftershocks of this pandemic. The pandemic has led to large-scale distress to supply bases, assembly plant closures, and further downshift to the declining consumer demand.
Among the regions, North American accounted for the largest market share for purpose-built backup appliances. This region is identified as the major adopter of emerging technologies such as big data analytics, IoT, and BI tools. The presence of numerous market players in this region is also driving the demand for the product. The Asia Pacific region is the fastest-growing market for PBBA. The technological innovation and increasing adoption of data protection and data security policies in telecom & IT, BFSI, and manufacturing verticals are increasing demand for PBBA in this region. The growing technological advancement is influencing the market growth in the Asia Pacific and Europe.
The report on global purpose-built backup appliance market covers segments such as component, enterprise size, and end-users. On the basis of components, the sub-markets include hardware, and software. On the basis of enterprise size, the sub-markets include large enterprises and small and medium enterprises. On the basis of end-users, the sub-markets include IT and telecommunication, BFSI, manufacturing industries, hospitality industry, government, healthcare, and others.
The report provides profiles of the companies in the market such as Fujitsu Limited, CommVault Systems, Inc, Oracle Corporation, Dell Technologies, International Business Machines Corporation, Symantec Corporation, Quantum Corporation, Barracuda Network Inc. (Thoma Bravo, LLC), Hewlett Packard Enterprise Company, and Hitachi Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the purpose-built backup appliance market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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