According to the latest report by IMARC Group, titled “Tape Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global tape storage market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global tape storage market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
Tape storage represents a device that records and stores computer data on a magnetic tape for archiving and backup purposes. It mainly comprises of two components, including tape cartridges and tape vaults. Tape storage systems record information on a loop of flexible celluloid-like material, which can be erased or read depending on the requirement. They are extremely cost-efficient as compared to solid-state drives (SSDs) and offer multiple benefits, which include longevity, durability, energy efficiency, and scalability. As a result, tape storage solutions find extensive applications across numerous sectors, such as information technology (IT), telecommunication, banking, media and entertainment, healthcare, oil and gas, government and defense, etc.
Trends and Drivers:
The growing volume of human and machine-generated data and the shifting preferences from paper-based data toward computerized data are among the key factors driving the tape storage market. In addition to this, the increasing employment of the devices by large enterprises for high-capacity data backup and the inflating investments by leading market players in research and development (R&D) activities for developing advanced high-storage data cartridges are acting as significant growth-inducing factors. Apart from this, the expanding digitization and industrialization and the elevating traction of high-definition 4K and 8K videos, the internet of things or IoT, and artificial intelligence or AI-based big-data analysis is further stimulating the market growth. Besides this, the escalating utilization of the product in the defense segment for securing sensitive data offline and for offline backup during system failure is expected to propel the tape storage market over the forecasted period.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Dell Technologies Inc., FUJIFILM Holdings Corporation, Hewlett Packard Enterprise Company, International Business Machines Corporation, Lenovo Group Limited, Oracle Corporation, Overland-Tandberg, QStar Technologies Inc., Qualstar Corporation, Quantum Corporation and Spectra Logic Corporation
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Tape Cartridges
- Tape Vault
Breakup by Technology:
- LTO-1 to LTO-5
- LTO-6
- LTO-7
- LTO-8
- LTO-9
- DDS-1
- DDS-2
- DDS-3
- DDS-4
- DLT IV
Breakup by Capacity:
- Less Than 1 TB
- 1 TB to 200 TB
- 201 TB to 999 TB
- 1 PB to 100 PB
- More Than 100 PB
Breakup by Use Case:
- Backup
- Archiving
Breakup by End Use:
- Data Centers
- Cloud Providers
- Enterprises
Breakup by Industry Vertical:
- IT and Telecommunication
- BFSI
- Media and Entertainment
- Healthcare
- Oil and Gas
- Government and Defense
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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