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Detailed Analysis of Current Industry Data and Growth Projections Through 2032 for the tape Storage Market
Tape Storage Market
Over the course of the anticipated period, it is anticipated that the worldwide tape storage market would expand without stop. Demand for digital innovation is increasing as consumer involvement in decision-making increases. Additionally, the utilisation of interoperable data and data analytics necessitates public-private collaborations for both organic and inorganic development.
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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.
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.
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Companies
Dell Inc.
Fujifilm Holdings Corporation
Hewlett Packard Enterprise Development LP
IBM Corporation
Lenovo
Oracle
Overland Storage
Qualstar Corporation
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.
Key segments in the global tape storage market:
Technology
LTO-1 to LTO-5
LTO-6
LTO-7
LTO-8
DDS-1
DDS-2
DDS-3
DDS-4
DLT IV
SDLT
Industry
IT and Telecommunication
Banking, Financial Services, and Insurance
Media and Entertainment
Research and Academia
Healthcare
Oil and Gas
Government and Defense
Others
End User
Cloud Providers
Data Centers
Enterprises
Small and Medium Enterprises
Large Enterprises
Others
Component
Tape Cartridges
Tape Vault
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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