Albany, NY -- (SBWIRE) -- 12/13/2018 -- According to a new market report published by Transparency Market Research, the global purpose-built backup appliance (PBBA) market was valued at US$ 5,221.44 Mn in 2016 and is expected to expand at a CAGR of 13.4 % from 2018 to 2026, reaching US$ 17,812.7 Mn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the purpose-built backup appliance (PBBA) market in 2016

Increasing need of enterprises for data storage and protection drives the purpose-built backup appliance (PBBA) market

Purpose-built backup appliance (PBBA) is a complete backup and recovery solution that includes software and hardware components such as file systems, disk systems, and object storage. Purpose-built backup appliance (PBBA) solutions are specifically designed for enterprises to protect enterprise data for backup and recovery. Moreover, these solutions are used to store and protect enterprise information in data centers or on hosted storage systems.

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Purpose-built backup appliance (PBBA) Market: Scope of the Report

The global market for purpose-built backup appliance (PBBA) is segmented on the basis of deployment, component, system, enterprise size, industry vertical, and region. Based on deployment, the market is segmented into cloud and on-premise. In terms of component, the (PBBA market is bifurcated into hardware, software, and professional services. Software component is further divided into deduplication, compression, encryption, remote replication, and support interfaces. Professional services are sub-segmented into installation and integration, and support and maintenance. Based on system, the market is categorized into integrated system, target systems, open system, and mainframe systems. Integrated system is expected to dominate the market over the forecast period as it can be easily integrated with backup software such as Rapid Data Access for faster backup. In terms of enterprise size, the market is fragmented into small & medium enterprises (SMEs) and large enterprises. Large enterprises segment is estimated to account for the largest market share due to rise in adoption of purpose-built backup appliances in large enterprises for storage purposes. The market is segmented based on industry vertical into BFSI (Banking, Financial Services and Insurance), telecom and IT, government, healthcare, education, manufacturing, travel and hospitality, energy and utility and others (retail, media and entertainment etc.)

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Geographically, the global purpose-built backup appliance (PBBA) market is divided into North America, Asia Pacific, Europe, South America, and Middle East & Africa. North America dominates the global purpose-built backup appliance (PBBA) market. This is due to enterprises in this region are adopting purpose built backup solution as it provides better protection storage and protection software. Europe is expected to expand at a rapid rate due to government rules and regulations about data protection and data security such as GDPR (General Data Protection Regulation). The Asia Pacific region is expected to register the highest growth due to increase in awareness among enterprises about data protection, backup, and recovery. Markets in Middle East & Africa and South Africa are anticipated to grow at a slow rate.

Global Purpose-built Backup Appliance (PBBA) Market: Competitive Dynamics

Purpose-built backup appliance (PBBA) platform providers are focusing on providing flexible and easy-to-use platforms. Merger and acquisition in the PBBA market further increases the competitiveness in the market. For instance, in June 2014, Twitter Inc. acquired Snappy TV, a company that was helping broadcasters and rights holders to share video content across social media and via Twitter's Amplify program.