Purpose Built Backup Appliance (PBBA) Market to Grow Steadily Over CAGR of 10.20%

The latest market report published by Credence Research, Inc. “Global Purpose Built Backup Appliance (PBBA) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Purpose-built Backup Appliance (PBBA) market has grown rapidly in recent years and is anticipated to expand at a CAGR of 10.20% between 2023 and 2030. The market was estimated to be worth USD 7.5 billion in 2022 and is expected to reach USD 14.80 billion by 2030.

The Purpose-Built Backup Appliance (PBBA) market refers to a specialized segment within the broader data storage and data protection industry. PBBA solutions are designed specifically for the purpose of efficiently and securely backing up and protecting data. Unlike general-purpose storage systems, PBBA devices are engineered with backup and recovery functions in mind, offering features such as deduplication, compression, encryption, and integrated software for seamless data protection.

The PBBA market has witnessed steady growth in recent years as organizations recognize the critical importance of safeguarding their data against various threats, including hardware failures, data corruption, cyberattacks, and natural disasters. PBBA solutions come in various forms, including physical appliances and virtual appliances, catering to the diverse needs of businesses across different industries and sizes.

Here are some trends that were relevant at that time:

Data Protection and Cybersecurity: With the increasing frequency and sophistication of cyberattacks, data protection has become a paramount concern for organizations. PBBA solutions were evolving to incorporate enhanced security features such as ransomware detection and recovery capabilities to help organizations safeguard their backup data.

Cloud Integration: Many PBBA vendors were focusing on integrating their solutions with cloud storage platforms. This allowed organizations to leverage the scalability and cost-effectiveness of cloud storage for long-term data retention while still using on-premises PBBA for initial backups.

Data Analytics and Insights: Some PBBA solutions were incorporating data analytics and reporting features. This allowed organizations to gain insights from their backup data, identify trends, and make more informed decisions regarding data management and storage.

Hyperconverged Infrastructure (HCI): The convergence of backup and storage solutions with hyperconverged infrastructure was a trend. This approach simplified data management by combining backup, storage, and compute resources into a single integrated platform.

Data Governance and Compliance: With the introduction of data protection regulations like GDPR and CCPA, PBBA solutions were adapting to provide better data governance and compliance features. This included capabilities for data classification, automated data retention policies, and audit trails.

Some of the market’s leading companies and their market shares are as follows:

·         Arcserve LLC

·         Asigra Inc.

·         Barracuda Networks Inc.

·         CommVault Systems Inc.

·         Dell EMC

·         eFolder Inc.

·         ExaGrid Systems Inc.

·         FalconStor Software Inc.

·         Fujitsu Limited

·         Hewlett Packard Enterprise Company

·         Hitachi Vantara Corporation

·         IBM Corp.

Browse 214 pages report Purpose Built Backup Appliance (PBBA) Market By Component (Hardware, Software)By System (Mainframe, Open)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030 - https://www.credenceresearch.com/report/purpose-built-backup-appliance-pbba-market

Here is an overview of the key elements within the scope of the PBBA market:

Hardware and Software Solutions: The PBBA market includes both hardware-based and software-based solutions designed explicitly for data backup and recovery. Hardware-based PBBA solutions typically consist of dedicated appliances optimized for backup tasks, while software-based PBBA solutions offer backup capabilities as software applications that can be deployed on existing hardware infrastructure.

Data Protection: The primary purpose of PBBA solutions is data protection. This includes functionalities such as data backup, data recovery, data deduplication, data compression, and data encryption. PBBA solutions are designed to ensure the availability and integrity of critical data.

Backup Storage: PBBA solutions provide storage infrastructure to securely store backup copies of data. This storage may include on-premises storage within the PBBA appliance, integration with existing storage infrastructure, or cloud storage for offsite backups.

Integration with Cloud: Cloud integration is becoming increasingly important in the PBBA market. PBBA solutions may support seamless integration with cloud storage services, allowing organizations to leverage the scalability and cost-efficiency of the cloud for backup and recovery purposes.

Market Segmentation

By Component

·         Hardware

·         Software

By System

·         Mainframe

·         Open

By Enterprise

·         Large Enterprise

·         Small and Mid-level Enterprise

By Vertical

·         Telecom & IT

·         BFSI

·         Manufacturing

·         Retail

·         Healthcare

Here are some of the key challenges and risks associated with the PBBA market:

Data Growth: With the exponential growth of data in organizations, PBBA solutions must constantly evolve to handle larger and more diverse datasets. Failure to keep pace with data growth can lead to obsolescence.

Competition from Cloud Services: Cloud-based backup and recovery services pose a significant threat to traditional PBBA vendors. Many organizations are opting for cloud-based solutions, reducing the demand for on-premises PBBA appliances.

Data Security and Privacy: Ensuring the security and privacy of backup data is paramount. Data breaches or non-compliance with data protection regulations can result in significant financial penalties and damage to a PBBA vendor's reputation.

Technological Obsolescence: Rapid advancements in storage and backup technologies mean that PBBA vendors must constantly innovate to stay relevant. Outdated technology can lead to decreased sales and market share.

Why to Buy This Report-

·         The report provides a qualitative as well as quantitative analysis of the global Purpose Built Backup Appliance (PBBA) Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.

·         The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.

·         Major nations in each region with their import/export statistics

·         The global Purpose Built Backup Appliance (PBBA) Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.

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