Purpose-Built Backup Appliance Market Analysis
Purpose-Built Backup Appliance Market Size was valued at USD 3.1 Billion in 2022. The purpose-built backup appliance market industry is projected to grow from USD 3.56 Billion in 2023 to USD 10.905 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.00% during the forecast period (2023 - 2032).
The purpose-built backup appliance offers a better solution for the protection storage, protection software, easy-to-deploy, pre-configured appliance, encryption, fault detection, healing, and others. These appliances' limitations include their extensive coverage for physical and virtual workloads, as well as support for a diverse application ecosystem and numerous hypervisors. These coverages are extended to the cloud, together with native cloud-tiering, and can be used for long-term retention in the private or public cloud. It also provides data duplication, which allows for more efficient data protection.
The rise in awareness and focus of enterprises on data protection and recovery infrastructure, stringent rules and regulations governing data protection and data security, and rise in IoT use in the purpose-built backup appliance market are some of the key reasons driving the market growth.
On the other hand, the high cost of storage and backup technology, as well as the availability of cost-effective alternatives, are projected to hamper the worldwide purpose-built backup appliance market growth.
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Purpose-Built Backup Appliance Market Segmentation
The global purpose-built backup appliance industry has been bifurcated on the basis of products, components, and end-users.
Based on the product, the global purpose-built backup appliance market has been bifurcated into open systems, mainframe systems and others.
Based on components, the global purpose-built backup appliance market has been bifurcated into hardware, software, services and others.
Based on end-users, the global purpose-built backup appliance market has been bifurcated into retail, government & defense, IT & telecommunications, healthcare and others.
COVID-19 Impact on the Global Purpose-Built Backup Appliance Market
COVID-19 is an incomparable global public health emergency that has impacted practically every industry, with long-term repercussions expected to impact industrial growth during the forecast period.
Purpose-Built Backup Appliance Market Regional Analysis
The regional analysis of the global purpose-built backup appliance market is being studied for regions such as Asia Pacific, North America, Europe and the Rest of the World.
North America is one of the world's top regions in terms of market share in the purpose-built backup appliance market, with a deduplication rate of 55:1 for data stored both on-premise and in the cloud. The market for purpose-built backup appliances in Europe is likely to increase rapidly in the coming years. Asia Pacific countries such as China, Japan, and India, on the other hand, are a rising market for purpose-built backup appliance market and are predicted to have the greatest CAGR in the coming years.
Key Players
The prominent players in the worldwide purpose-built backup appliance market are – Dell EMC (U.S.), Barracuda Network Inc. (U.S.), Oracle Corporation (U.S.), Axcient Inc. (U.S.), Arcserve LLC (U.S.), International Business Machines Corporation (U.S.), Commvault Systems Inc. (U.S.), Hitachi Data Systems Corporation (U.S.), Hewlett Packard Enterprise Company (U.S.), Quantum Corporation (U.S.), among others.
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Summary
The global purpose-built backup appliance market is set to touch USD 10 billion at a CAGR of 15% from 2017 to 2023 (forecast period). Increased awareness and focus of enterprises on data protection and recovery infrastructure, tight rules and regulations governing data protection and data security, and increased usage of IoT in the purpose-built backup appliance market are some of the main reasons boosting the market growth. On the other hand, the high cost of storage and backup technology, as well as the availability of cost-effective substitutes, are projected to restrict the growth of the global purpose-built backup appliance market.
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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE:
1.3.1 GLOBAL PURPOSE-BUILT BACKUP APPLIANCE MARKET: BY PRODUCTS
1.3.2 GLOBAL PURPOSE-BUILT BACKUP APPLIANCE MARKET: BY COMPONENTS
1.3.3 GLOBAL PURPOSE-BUILT BACKUP APPLIANCE MARKET: BY END USERS
1.3.4 GLOBAL PURPOSE-BUILT BACKUP APPLIANCE MARKET: BY REGION
2 RESEARCH METHODOLOGY
2.1 RESEARCH
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
3 MARKET DYNAMICS
3.1 INTRODUCTION
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
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