Market Research Future published a research report on “Purpose-Built Backup Appliance Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
— Global Purpose-Built Backup Appliance Market Overview
A purpose-built backup appliance is a disk-based storage device which is standalone in nature. This appliance is configured and optimized for storing backup data. A purpose-built backup appliance aids in better protection software, protection storage, easy-to-deploy, preconfigured appliance, fault detection, encryption, as well as healing.
As per the latest Market Research Future (MRFR) analysis, the global purpose-built backup appliance market is primarily driven by the increasing focus of organizations on the data protection and recovery infrastructure. Furthermore, the purpose-built backup appliance market is witnessing faster progress owing to stringent regulations regarding data protection and data security from various regulatory bodies such as (General Data Protection Regulation).
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However, the weaknesses of these appliances are expected to pose restrictions on the ascension of the global purpose-built backup appliance market. These market restraints include the expansive coverage for physical and virtual workloads and the support for wide application ecosystem and multiple hypervisors.
The report recently launched by MRFR has stated that the global purpose-built backup appliance market is estimated to garner a revenue valuation of USD 10 billion by the end of the forecast period. Such expansion is estimated to record a 15% CAGR over the forecast period of 2017-2023.
The prominent players in the global Purpose Built Backup Appliance Market are – Dell Inc. (U.S.), Oracle Corporation (U.S.), Axcient Inc. (U.S.), Barracuda Network Inc. (U.S.), Arcserve LLC (U.S.), International Business Machines Corporation (U.S.), Hitachi Data Systems Corporation (U.S.), EMC Corporation (U.S.), Commvault Systems Inc. (U.S.), Quantum Corporation (U.S.), Hewlett Packard Enterprise Company (U.S.) among others.
The global purpose-built backup appliance market is studied for several segments based on products, components, end-users, and region. Based on products, the global purpose-built backup appliance market is segmented into open systems, target system, integrated system, and mainframe systems. Based on components, the purpose-built backup appliance market is segmented into software services and hardware. Based on end-users, the global purpose-built backup appliance market is segmented into government & defense, retail, IT & telecommunications, and healthcare.
Detailed Regional Analysis
The global purpose-built backup appliance market is segmented into the regional segments of North America, Europe, Asia Pacific, and Rest of the World. The global purpose-built backup appliance market, among these regional segments, is spearheaded by North America. This can be owed to the deduplication with an average of 55:1 deduplication rate for data residing on both, premise and cloud.
On the other hand, the purpose-built backup appliance market in Europe is expected to exhibit rapid growth through the forecast period. This is due to the introduction of rules and regulations by the government in regard to data protection and data security, which are fostering the growth of the purpose-built backup appliance market.
Asia Pacific is anticipated to register the fastest rate of growth among all regional segments during the forecast period. This can be owed to the increasing awareness of data protection and recovery among enterprises residing in the region. China, Japan, and India are expected to emerge as major growth pockets in the purpose-built backup appliance market of Asia Pacific.
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• Purpose-built backup appliance manufacturing companies
• Original equipment manufacturers
• Purpose-built backup appliance providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
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Release ID: 88921012