Albany, NY -- (SBWIRE) -- 12/21/2018 -- ResearchMoz.us has announced the addition of a report, titled "Purpose-built Backup Appliance (PBBA) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026". The report on the global purpose-built backup appliance (PBBA) market offers an elaborate assessment on its current outlook and prospects, emerging avenues in various deployment segments, major end user trends, and the competitive landscape. The study also takes a critical look at recent product innovations in the PBBA market.
The global PBBA market is primarily driven by the rising need for enterprise data protection solutions in various end-use industries, world over. Key industries include banking, financial services and insurance, telecom and IT, government, healthcare, manufacturing, travel and hospitality, and energy and utility. The rising demand for a comprehensive backup and recovery solution in enterprises for protecting data against malware attacks, disasters and outages, and hardware failures is propelling the market growth. The global market is projected to rise at robust, double-digit CAGR from 2018 to 2026.
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The rising focus of enterprises on deploying secure data protection and recovery infrastructure is a key trend bolstering the demand for purpose-built backup appliances. The global PBBA market is expected to receive a big momentum from the stringent implementation of various regional regulations pertaining to data protection and privacy. The adoption of General Data Protection Regulation (GDPR) is a case in point.
The various key regional markets for PBBA are North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Of these, North America held leading share in the global PBBA market. This is driven mainly by the burgeoning demand for enterprises for data storage. Meanwhile, the opportunities in Europe are expected to rise at prominent growth rate during 2018–2026. The EU's GDPR has transformed the entire landscape of data protection in Europe, underpinning several lucrative avenues in the regional market. Meanwhile, Asia Pacific is anticipated to rise at the most attractive growth rate from 2018 to 2026. This is fueled by the rising awareness about the need for data protection and recovery solutions among enterprises.
A large number of players in the PBBA market are focusing on unveiling solutions that are flexible and are intuitive. Several companies are entering into mergers and acquisitions to gain a competitive edge over their peers in the market. Top players in the market are engaged in developing platforms that can support a wide variety of interactions. Few of the companies are also focusing on launching solutions cloud data protection portfolio. This help protect against disasters and outages.
Key players vying for substantial stakes in the global PBBA market are Asigra, Inc., NetApp, Inc., Hitachi Vantara Corporation, Symantec Corporation, Barracuda Networks, Inc., Arcserve LLC, Veritas Technologies LLC, Hewlett Packard Enterprise Development LP, Oracle Corporation, IBM Corporation, and EMC Corporation.
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