Purpose Built Backup Appliance Market To Witness Renewed Growth Amid The Global COVID-19 Crisis
Market Study
Market
Research Future (MRFR), in its latest report on purpose
Built Backup Appliance Industry 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.
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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.
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