Tape Storage Market Recent Developments, Major Regions, Top Players, Opportunities in Future

Persistence Market Research (PMR) recently published a market study titled “Tape Storage Market – Global Industry Analysis 2013-2017 and Forecast 2018-2026.” Tape storage technology finds common applications in small, medium, and large enterprises for the purpose of data back-up and data archiving. Tape storage equipment facilitates the back-up and archival of enterprise-grade digital data on a high-capacity magnetic tape. The tape storage technology is based on the traditional concept of digital information storage. The technology is well-suited for enterprise-grade digital data archival owing to features such as high data storage capacity, low procurement expenditure & power consumption, and long-term durability. In the tape storage market, several established vendors are offering specialized tape storage for different end-user verticals, such as government & defense, oil & gas, healthcare, research & academia, media & entertainment, BFSI, and IT & telecommunication.
To remain ‘ahead’ of your competitors, request for a sample here@ https://www.persistencemarketresearch.com/samples/14725
The global tape storage market was valued at US$ 5,799.4 Mn in 2017. By the end of the forecast year 2026, the global tape storage market is expected to reach a market value of US$ 6,527.2 Mn. In the global tape storage market report, Persistence Market Research has segregated the global tape storage market by technology, by end user, by industry, by component, and by region. By technology, the global tape storage market can be segregated into SDLT, DLT IV, DDS-1, DDS-2, DDS-3, DDS-4, LTO-1 to LTO-5, LTO-6, LTO-7, and LTO-8. These tape storage technologies prevent the information stored on the tapes from falling prey to cyber-attacks as they are not connected to the network infrastructure of the enterprise. Tape cartridge and tape drive roadmaps are expected to continue the trend of supporting capacity doubling upgrades in a 24-month to 30-month cycle for 2+ generations in the tape storage market. Owing to these factors, LTO-7 and LTO-8 technology formats of tape storage are estimated to record growth rates of 2.0% and 7.9% respectively during the forecast period.
Based on end users, the global tape storage market is sub-segmented into enterprises, data centers, cloud providers, among other tape storage end users. The enterprise sub-segment is further classified into large enterprises and small & medium enterprises. As compared to the adoption rate expected from SMEs, large enterprises are estimated to record a larger market share by the end of the forecast period. The continuous rise in enterprise-grade digital data volumes and high digital data storage capacities offered by tape storage technology are estimated to be the primary drivers of the global tape storage market.
For critical insights on the keyword market, request for methodology here @ https://www.persistencemarketresearch.com/methodology/14725
Geographically, the tape storage market in North America is estimated to continue holding the largest market share of the global tape storage market by the end of the forecast year 2026 due to the high adoption of next-generation tape storage technologies in the region, especially in the U.S. The tape storage market in the Southeast Asia and Others of Asia Pacific region is expected to hold the second largest share of the tape storage market and is estimated to be the target market for established market players.

Contact us: 305 Broadway, 7th Floor
New York City, NY 10007 United States
Ph.no. +1-646-568-7751
E-mail id- sales@persistencemarketresearch.comWebsite: https://www.persistencemarketresearch.com

About us:

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

This release was published on openPR.