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

Comments

Post a Comment

Popular posts from this blog

Airbag Control Unit Sensor Market Outlook, Trends & Demand Analysis during Forecast 2022 to 2032

 The global Airbag Control Unit Sensor Market is expected to increase at a 6.7% CAGR between 2022 and 2032, from US$ 590.3 million in 2022 to US$ 1,127.6 million. The spike is due to the increase in road fatalities. The airbag control/sensor unit aids in the detection of collisions. Activate the airbags to protect a passenger in the event of a collision. Before activating the appropriate restraint frameworks, the airbag control unit detects and evaluates the severity of an accident. The device receives data from up to six crash sensors. This includes speed sensors as well as a rotational speed sensor. These readings are used to assess and investigate signals from other sensors. The crash signals are then communicated to the airbag control unit and a new additional system, which activates the hazard and interior lights, shuts off the fuel pump, and stops the engine. Restraint systems are further improved to be the most effective based on the type of accident. Get a Sample Copy of this
Read more

Procurement Software Market Report | Size, Growth, Demand, Scope, Opportunities & Forecast 2022-2032

 The worldwide  procurement software is probably going to be esteemed at US$ 6,548.9 million of every 2022 and is anticipated to get a CAGR of 12.3% during the estimate time frame. The market is supposed to develop at a worth of US$ 20,937.9 million by 2032. The deals of procurement software are on the ascent as they are profoundly being conveyed among enterprises to buy and deal with the stock levels carefully. The procurement business is developing quickly with the rising requirements of an association. To make due and support in this seriously cutthroat market, merchants are zeroing in on further developing their conveyance models with innovation. The interaction or the activity to obtain labor and products is known as procurement. Procurement software is a PC program assists in creating a buy with requesting, executing the requesting system on the web, and matching solicitations to materials got, and taking care of all bills electronically. It helps in diminishing outside costs, p
Read more

Fire Rated Cables Market: Current Status, Competitive Analysis & Growth Prospects 2022 to 2032

 The  fire-rated cables market  is expected to be worth US$ 1,915.0 million in 2022. The broad range of applications and rising industrial value are expected to be the market’s primary growth factors. Fire-rated cable sales are expected to reach US$ 2,655.0 million by the end of 2032, with a 3.3% CAGR between 2022 and 2032. Flame retardant and fire-rated cables are the two types of fire safety or fire protection cables. The primary distinction between flame retardant cables and fire-rated cables is that flame retardant cables are only designed to prevent combustion and thus limit the spread of fire, whereas fire-rated cables, also known as circuit integrity cables or fire resistive cables, can function in the presence of fire for a specified time under specified conditions. In the case of a fire, these cables are precisely engineered to keep the circuit intact. They are effective flame retardants with beneficial properties such as superior electrical and mechanical properties. Fire-rat
Read more