Global Tape Storage Industry: Global and Regional Analysis with Forecast till 2028, Business Opportunities, Post COVID Scenario.

The global Tape Storage market size was valued at $4.21 Billion in 2020 and is expected to reach $5.84 Billion by 2028 growing at the CAGR of 4.07% from 2021 to 2028.

The rise in data sprawl in the form of high storage requirements for businesses has led to an increase in private enterprises migrating towards tape storage. Further, in response to the rising threats of ransomware attacks on company networks, various companies have adopted various strategies including backup encryption leading to an increased demand for secure data storage particularly in tapes. Though increasing adoption of digital data storage is anticipated to foster growth of the market for tape storages, high costs associated with technology are expected to hamper market growth.

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Key Players

Some of the major Tape Storage players holding high market share include Dell Inc, Fujifilm Holdings Corporation, and IBM Corporation. These players use acquisition and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Dell Inc
● Fujifilm Holdings Corporation
● IBM Corporation
● Lenovo
● Oracle
● Qualstar Corporation
● Quantum Corporation
● Seagate Technology
● Sony Corporation
● Spectra Logic Corporation

The recently published research report on Global Tape Storage Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Tape Storage market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Tape Storage market report also includes the following data points:
● COVID19 Impact on Tape Storage market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Tape Storage market

Segmental Analysis

Market Segment By Component with focus on market share, consumption trend, and growth rate of Tape Storage Market:
o Tape Cartridges
o Tape Vault

Market Segment By End User with the focus on market share, consumption trend, and growth rate of Tape Storage Market:
o Cloud Providers
o Data Centers
o Enterprises
o Others

Market Segment By Capacity with a focus on market share, consumption trend, and growth rate of Tape Storage Market:
o Less Than 1 TB
o 1 TB to 200 TB
o 201 TB to 999 TB
o 1 PB to 100 PB
o More Than 100 PB

Market Segment By Capacity with a focus on market share, consumption trend, and growth rate of Tape Storage Market:
o LTO-1 to LTO-5
o LTO-6
o LTO-7
o LTO-8
o LTO-9
o DDS-1
o DDS-2
o DDS-3
o DDS-4

For more information: https://evolvebi.com/product/tape-storage-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

From a global perspective, North America is projected to continue leading the tape storage market through 2028. One of the primary reasons for this growth is the large presence of leading technology companies in North America. Manufacturers are finding success by tapping into one of the oldest forms of data storage to tackle some of today's most persistent security threats . Relying on new research and development, technology developers are enhancing tape storage technology with cutting-edge capabilities that appeal to some of the world's largest companies while meeting modern enterprise needs related to capacity, regulation requirements, compliance issues, and more.

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