(EMAILWIRE.COM, July 19, 2019 ) According to the new market research report "Purpose-built Backup Appliance Market by Component (Hardware, Software), System (Mainframe, Open), Enterprise (Large, Small and Mid-level), Vertical (Telecom & IT, BFSI, Manufacturing, Retail, Healthcare), and Geography - Global Forecast to 2024", t he purpose-built backup appliance market is likely to reach USD 8.6 billion by 2024 from USD 5.2 billion in 2019, at a CAGR of 10.6%. The growth of this market can be attributed to the increasing focus of companies on data protection and the recovery of data, stringent regulations for data protection and data security such as GDPR policy, and the rising market for IoT.

Don’t miss out on business opportunities in Purpose-built Backup Appliance (PBBA) Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=65028258#emailwire

“Hardware component to have higher market share than software component of the purpose-built backup appliance market”

PBBA hardware is replaced or repaired when get damaged or needs replacement. The expansion of businesses results in the implementation of PBBA with increased capacity. For this purpose, enterprises have to buy a new purpose-built backup appliance. The cost of the PBBA is associated with the capacity of the appliance and features it offers in backing up and recovery. The higher cost associated with the hardware as compared to software has made hardware component to have higher market share in the purpose-built backup appliance.

“Manufacturing vertical to lead the purpose-built backup appliance market from 2018 to 2024”

The purpose-built backup appliance becomes crucial for processes involved in manufacturing. There are industrial as well as government regulations for the protection and backup of the purpose-built backup appliance in the manufacturing sector. The manufacturing vertical is booming in technologically advancing countries, such as Brazil, China, and India, due to government support in the form of increasing foreign direct investment and other initiatives. These drive the market for manufacturing vertical to have the highest CAGR during the forecast period.

Browse and in-depth TOC on "Purpose-built Backup Appliance (PBBA) Market"

65 - Tables
37 - Figures
124 - Pages

View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/purpose-built-backup-appliance-market-65028258.html#emailwire

“APAC to be the largest market for purpose-built backup appliance during the forecast period”

APAC is anticipated to be the fastest growing region for purpose-built backup appliance market due to the technological innovation and increasing adoption of the purpose-built backup appliances in the telecom & IT, BFSI, and manufacturing verticals. Emerging economies in APAC are growing significantly in the purpose-built backup appliance market. Growth of the small & mid-level enterprises, booming manufacturing hub, and presence of telecom & IT giants are driving the growth of the purpose-built backup appliance market in the emerging economies, such as China and India.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=65028258#emailwire

Major players operating in the purpose-built backup appliance market are Dell Inc. (US), NetApp, Inc. (US), IBM Corporation (US), Oracle Corporation (US), Fujitsu Limited (Japan), Commvault Systems, Inc. (US), Veritas Technologies LLC (US), and Hewlett Packard Enterprise Company (US). Other companies include Quantum Corporation (US), Barracuda Networks, Inc. (US), Hitachi Vantara Corporation (US), and Arcserve LLC (US), among others.

Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Website: http://www.marketsandmarkets.com/