According to a newly released Future Market Insights study, the Purpose-built Backup Appliance (PBBA) Market revenues were expected to be US$ 9.3 billion in 2021 and are projected to increase at a CAGR of 10.8% from 2022 to 2032. The market is anticipated to reach a US$ 29.4 billion worth by the end of 2032.
By 2032, it is anticipated that the Chinese market will be worth US$ 2.4 billion, expanding at a CAGR of more than 17% between 2022 and 2032. Due to factors including the expansion of SMEs and growing economies, China represents a potential market for backup appliances that are specifically designed for backup purposes.
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.
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These data center 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 center 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.
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.
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Market Segments Covered in Purpose-built Backup Appliance Market Analysis
By Deployment:
- Cloud purpose-built backup appliances
- On-Premise purpose-built backup appliances
By Component:
- Purpose Built Backup Appliance Hardware
- Purpose Built Backup Appliance Software
- Deduplication
- Compression
- Encryption
- Remote Replication
- Support interfaces
- Purpose Built Backup Appliance Services
- Installation and Integration
- Support and Maintenance
By System:
- Integrated Backup Appliance
- Target Systems Backup Appliance
- Open System Backup Appliance
- Mainframe Purpose Built Backup System
By Enterprise Size:
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Industry Vertical:
- BFSI (Banking, Financial, Services and Insurance)
- Telecom and IT
- Government
- Healthcare
- Education
- Manufacturing
- Travel and Hospitality
- Energy and Utility
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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