Purpose-built Backup Appliance (PBBA) Market Size, Growth Analysis Report, Forecast 2022-2032

 The Purpose-built Backup Appliance (PBBA) Market revenues was estimated at US$ 9.3 Bn in 2021 and is anticipated to grow at a CAGR of 10.8% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 29.4 Bn.

The market in China is projected to reach a valuation of US$ 2.4 Bn by 2032, growing at a CAGR of over 17% during 2022 – 2032. Owing to the reasons such as the rise of SMEs and developing economies, China stands as a potential market for purpose-built backup appliances.

The growth of China's economic infrastructure will have a direct influence on the market. Also, the existence of large corporations, a strong supply side, vigorous industrial development demand, and financial capabilities is likely to make a significant contribution in the PBBA market revenue. In March 2022, China announced a series of policy documents authorizing the establishment of several new data centre clusters around the country.

These data centre clusters are planned as part of the "Eastern Data, Western Computing" program, which was first suggested in 2020. The plan calls for the creation of a national data centre and computer infrastructure, with data eventually moving from China's highly populated east to the more rural and resource-rich west.

The plan is a proactive government effort aimed at increasing computer power and data storage capacity in anticipation of increased digitization and technical innovation, as well as resolving a computing supply and demand mismatch.

Key Takeaways from the Market Study

  • Global Purpose-built Backup Appliance (PBBA) Market is expected to reach a market size of US$ 10.6 Bn by 2022.
  • The Software segment, is expected to have the highest CAGR rate of 11.4% during the forecast period.
  • United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 4 Bn during 2022 – 2032.
  • The market in China is set to experience the highest CAGR of 17.2% during the 2022-2032 forecast period.

“During the projected period, the rise in the demand for data protection and data security as well as the increased prospects in cloud computing software are some of the key drivers in raising the Purpose-built Backup Appliance market revenue.” comments a Future Market Insights analyst.

Competitive Landscape

The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Purpose-built Backup Appliance Market are focused on R&D to produce innovative technological solutions.

  • In March 2022, Microsoft Corporation announced that its customers will enjoy unlimited access to a new Azure region in North China, adding the fifth Azure region to the China market and doubling the capacity of Microsoft's intelligent cloud portfolio in China. The new Azure region will strengthen Microsoft's capabilities to allow and empower innovation, development, and the discovery of possibilities across the company, ecosystem, and a sustainable future.
  • In December 2021, Dell introduced DD6400, which is a contemporary backup device designed for commercial clients, small businesses, and big organizations with remote installations. They stated that the DD6400 would support the Dell EMC PowerProtect Cyber Recovery solution, putting cyber security at the forefront of the IT ecosystem. The DD6400 has a hardware-assisted compression card that boosts logical capacity per TB by 30%, yielding a 65x data deduplication ratio.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Purpose-built Backup Appliance (PBBA) Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Purpose-built Backup Appliance (PBBA) Market by Deployment (Cloud, On-Premise), By Component (Software, Professional Services), By System (Integrated, Target, Open, Mainframe), By Enterprise Size (Small & Medium Enterprises, Large Enterprises), By Industry Vertical (BFSI, Telecom and IT, Government, Healthcare, Education, Manufacturing, Travel and Hospitality, Energy and Utility, Others) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

For More Info -https://www.futuremarketinsights.com/reports/purpose-built-backup-appliance-pbba-market

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