Backup and Disaster Recovery Appliance Market: Present Scenario and the Growth Prospects with Forecast 2024

The global rise in demand for Internet of Things (IoT) has resulted into the development of smart appliances which are capable of storing essential data in cloud servers. However, the data needs to be stored securely for future access. Backup and disaster recovery appliances are used to store important data in case of disaster of hardware of software failure. These appliances are based upon network attached storage and works by replicating the files and the operating systems. The replicated data is then stored on dedicated appliances which are available instantly in case of a system failure. The market is expected to grow due to increasing demand for these appliances in small and medium businesses.

The global rise in cyber crime is one of the major factors leading to the growth of backup and disaster recovery appliances. In addition, failure of hardware devices cannot be predicted and hence is essential to take back of important documents on a real time basis. Furthermore, these appliances are either integrated with the system or operate with the help of a cloud based service to store and secure the data. Moreover, it is not feasible for all the organization to have their own backup and recovery facility and hence relies of software or hardware backup solutions provided by third part vendors.

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In addition, ongoing technological innovation is leaded to the development of virtual reality devices. These devices primarily operated with the help of internet and store their data online. The rising demand of these devices is in return creating the need for backup and recovery services for these data. These factors are aiding to the growth of the backup and disaster recovery appliances market globally.

However, there are some factors hindering the growth of backup and disaster recovery appliances market. The appliances are designed to operate with the help of a specific software. Hence, if an organization plans to change their backup software, they have to change the appliances as well may not be affordable for all. Moreover, the operation of these appliances requires strong and stable internet connectivity which is not available in underdeveloped regions like Asia and Africa. These are some of the primary factors hindering the growth of the market.

The rising need for cloud based services and the falling price of cloud based storage is expected to surge the demand for backup and disaster recovery appliances in future. In addition, the expansion of organization in developing region is creating the need for cloud based services for proper coordination with the headquarters. This is another factor which is expected to drive the market in future.

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The backup and disaster recovery appliances find their application in several areas such as retail, banking & financial services, construction, education, managed service providers and legal services among others. Furthermore, the market can also be segmented by regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa and South America. North America and Europe are early adapters of new technologies and are expected to dominate the market during the forecast period. Furthermore, the most of the manufacturers of these appliances are headquartered in these regions. However, the countries like India and China are developing rapidly in the retail and construction sector. Hence the region is the expected to witness rapid growth during the forecast period.

The backup and disaster recovery appliances market is marked by some intense competition by the leading players operating in this sector. Frequent mergers and acquisition, joint ventures and partnerships are some of key strategies adopted by these leading players in the market. The key manufacturers in the back and disaster recovery appliances market are Oracle, Veritas, Hewlett Packard Enterprise, Unitrends, Pivot3 and Acronis among others.

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