Tape Storage Market to Witness Massive Growth, Emerging Technology Research Report by 2023-2033

A method called magnetic tape storage makes it possible to store digital data on a magnetic tape. It is based on one of the original ideas for storing digital data. Although tape storage technology is no longer the main backup storage option, it is still a good option for digital data archiving because of its extended lifespan, low cost, and large data store capacity. In the event that the tape storage technology is a component of a library, robotic selection and suitable cartridge loading may add latency.

There is no online copy of the data in the case of tape storage technology because all the data is vaulted for the long term. This feature has benefits and drawbacks. By removing the possibility of network connectivity, the "air gap" makes it possible for tape storage technology to shield an enterprise's data from cyber-attacks; nevertheless, efficient data retrieval is not possible.

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Tape storage, also known as magnetic tape storage, is a method of data storage that uses magnetic tape to store digital information. Tape storage is often used for long-term data storage, backup and archival purposes. The tape storage market is driven by the increasing demand for high-capacity, cost-effective and reliable data storage solutions, coupled with advancements in tape technology and the need to comply with regulatory requirements.

The North America region is expected to dominate the tape storage market during the forecast period, due to the presence of leading tape storage vendors, increasing demand for data storage in various industries, and the need for compliance with data retention regulations.

As per PMR analysis, tape storage technology has become an ideal solution for several next-generation applications that are swiftly outgrowing their traditional storage infrastructure. These applications include addressing the data storage and security needs for surveillance, Internet of Things, hyper-scale computing, entertainment, cloud storage services, and Big Data. These applications of tape storage technology are expected to generate enormous demand in the market. In 2018, Veeam entered into a partnership with Quantum and launched a converged tape appliance with integrated data protection software developed by Veeam and Quantum's back-up technology.

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In 2017, Sony and IBM innovated an upgrade in their tape storage technology for the highest recorded areal density, and this resulted in the creation of approximately 330 terabytes of uncompressed capacity per tape cartridge. Some of the leading cloud-based data storage service providers, which include Google Cloud Platform, Microsoft Azure, and Amazon Web Services, have integrated LTFS-attached tape storage libraries into their storage infrastructure to eliminate the threat of the loss of client/user data.

Some key players profiled in the global tape storage market report are Dell Inc.; Fujifilm Holdings Corporation; Hewlett Packard Enterprise Development LP; IBM Corporation; Lenovo; Oracle; Overland Storage; Qualstar Corporation; Quantum Corporation; Seagate Technology PLC; Sony Corporation; and Spectra Logic Corporation.

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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.

This release was published on openPR.