The purpose built backup appliance (pbba) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Purpose Built Backup Appliance (PBBA) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The purpose-built backup appliance (PBBA) market size has grown strongly in recent years. It will grow from $7.22 billion in 2023 to $7.91 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increased data generation, growth in regulatory compliance requirements, increasing awareness of data protection, growth in hyper-converged infrastructure, and increasing use of advanced encryption.
The purpose-built backup appliance (PBBA) market size is expected to see strong growth in the next few years. It will grow to $11.54 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to increasing data volumes, rising cybersecurity threats, increasing remote work, increasing use of virtualization technologies, and rising demand for high-availability solutions. Major trends in the forecast period include technological advancements, the adoption of cloud-integrated backup solutions, artificial intelligence, integration with virtualization platforms, and hybrid cloud models.
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Scope Of Purpose Built Backup Appliance (PBBA) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Purpose Built Backup Appliance (PBBA) Market Overview
Market Drivers –
The increasing data security threats are expected to propel the growth of the purpose-built backup appliance (PBBA) market going forward. Data security threats encompass a wide range of risks and vulnerabilities that can compromise the confidentiality, integrity, and availability of sensitive information. The increase in data security threats is due to expanding attack surface, sophisticated malware and cyber-attacks, ransomware proliferation, supply chain vulnerabilities, and economic incentives. Purpose-built backup appliances (PBBAs) enhance data security by ensuring reliable backup and recovery processes, protecting organizations against various data security threats. For instance, in March 2023, according to the Federal Bureau of Investigation, a US-based law enforcement agency, investment fraud in the US increased from $1.45 billion in 2021 to $3.31 billion in 2022. Therefore, the increasing data security threats are driving the growth of the purpose-built backup appliance (PBBA) market.
Market Trends –
Major companies operating in the purpose-built backup appliance (PBBA) market are focused on developing innovative solutions to enhance data storage efficiency and scalability, such as on-premises object storage solutions. On-premises object storage refers to storing data as objects in a dedicated local environment, providing scalable and efficient data management within an organization’s infrastructure. For instance, in June 2022, Veeam Software Holding Inc., a US-based information technology company, launched Object First to provide on-premises object storage facilities for Veeam backup. This device, accessed via Amazon’s S3 protocol and locally owned, offers immutability, instant recovery, and security features. Object First exclusively integrates with Veeam Backup and Recovery release 12 (VBR12), enabling backups to be stored immutably in less than 15 minutes. It utilizes a technology similar to AWS S3 Object Lock for immutability, configurable for up to 999 days.
The purpose built backup appliance (PBBA) market covered in this report is segmented –
1) By Component: Purpose Built Backup Appliance Hardware, Purpose Built Backup Appliance Software, Purpose Built Backup Appliance Services
2) By System: Integrated Backup Appliance, Target Systems Backup Appliance, Open System Backup Appliance, Mainframe Purpose Built Backup System
3) By Deployment: Cloud Purpose Built Backup Appliances, On-Premise Purpose Built Backup Appliances
4) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry Vertical: Banking, Financial, Services and Insurance (BFSI), Telecom And Information Technology, Government, Healthcare, Education, Manufacturing, Travel And Hospitality, Energy And Utility, Other Industry Verticals
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Regional Insights –
North America was the largest region in the purpose-built backup appliance (PBBA) market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the purpose built backup appliance (PBBA) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the purpose built backup appliance (PBBA) market are Dell EMC, Hitachi Vantara LLC, International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise, Fujitsu Limited, NetApp Inc., Veritas Technologies LLC, Zones LLC, Barracuda Networks Inc., Cohesity Inc., International Data Corporation, Acronis International GmbH, Quantum Corporation, TechTarget Inc., Arcserve LLC, Unitrends Inc., ExaGrid Systems Inc., Axcient Inc., Asigra Inc., STORServer Inc., Data & Storage ASEAN, Commvault Systems Inc., Tenaya Capital, Blocks & Files
Table of Contents
1. Executive Summary
2. Purpose Built Backup Appliance (PBBA) Market characterstics
3. Purpose Built Backup Appliance (PBBA) Market Trends And Strategies
4. Purpose Built Backup Appliance (PBBA) Market – Macro Economic Scenario
5. Global Purpose Built Backup Appliance (PBBA) Market Size And Growth
…..
32. Global Purpose Built Backup Appliance (PBBA) Market Competitive Benchmarking
33. Global Purpose Built Backup Appliance (PBBA) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Purpose Built Backup Appliance (PBBA) Market
35. Purpose Built Backup Appliance (PBBA) Market Future Outlook and Potential Analysis
36. Appendix
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