The purpose-built backup appliance (PBBA) market is demonstrating strong growth, increasing from $7.22 billion in 2023 to $7.91 billion in 2024, at a CAGR of 9.6%. This growth is driven by increased data generation and rising cybersecurity threats. By 2028, the market is anticipated to grow to $11.54 billion, with a CAGR of 9.9%. Key drivers include the adoption of cloud-integrated backup solutions and advances in virtualization technologies. Major trends for the forecast period include the integration of artificial intelligence and hybrid cloud models.
Major Driver In The Purpose Built Backup Appliance PBBA Market
The purpose-built backup appliance (PBBA) market is anticipated to grow in response to increasing data security threats. As cyberattacks become more sophisticated and prevalent, the need for reliable backup and recovery solutions is more critical than ever. The Federal Bureau of Investigation reported a rise in investment fraud in the US from $1.45 billion in 2021 to $3.31 billion in 2022. This growing threat landscape underscores the importance of data security, propelling the growth of the PBBA market.
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Purpose Built Backup Appliance PBBA Market Competitive Landscape
Dell EMC, Hitachi Vantara LLC, International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise, Fujitsu Limited, NetApp Inc., Veritas Technologies LLC, Zones LLC, Barracuda Networks Inc., Cohesity Inc., International Data Corporation, Acronis International GmbH, Quantum Corporation, TechTarget Inc., Arcserve LLC, Unitrends Inc., ExaGrid Systems Inc., Axcient Inc., Asigra Inc., STORServer Inc., Data & Storage ASEAN, Commvault Systems Inc., Tenaya Capital, Blocks & Files
Key Purpose Built Backup Appliance PBBA Market Trend
The purpose-built backup appliance (PBBA) market is evolving with on-premises object storage solutions that enhance data management efficiency. Veeam Software launched Object First in June 2022, which provides immutability and instant recovery features. This solution integrates seamlessly with Veeam Backup and Recovery release 12, ensuring backups are stored securely in less than 15 minutes.
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Purpose Built Backup Appliance PBBA Market Segmentation
The purpose built backup appliance (PBBA) market covered in this report is segmented –
1) By Component: Purpose Built Backup Appliance Hardware, Purpose Built Backup Appliance Software, Purpose Built Backup Appliance Services
2) By System: Integrated Backup Appliance, Target Systems Backup Appliance, Open System Backup Appliance, Mainframe Purpose Built Backup System
3) By Deployment: Cloud Purpose Built Backup Appliances, On-Premise Purpose Built Backup Appliances
4) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry Vertical: Banking, Financial, Services and Insurance (BFSI), Telecom And Information Technology, Government, Healthcare, Education, Manufacturing, Travel And Hospitality, Energy And Utility, Other Industry Verticals
By Geography:The regions covered in the purpose built backup appliance (PBBA) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the purpose-built backup appliance (PBBA) market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
The Purpose Built Backup Appliance PBBA Global Market Report 2024 furnishes information about the global purpose built backup appliance pbba market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
