Tape Storage Market to incur value growth at 8.2% CAGR during 2023 - 2033

The tape storage market is estimated to be US$ 5,780.4 Million by 2023, and the market is anticipated to progress at a CAGR of 8.2% during the forecast period 2023 to 2033.

Report Synopsis

Persistence Market Research (PMR) offers an eight-year forecast for the global tape storage market between 2018 and 2026. In terms of market value, comparatively newer technologies in the tape storage market are estimated to register a steady growth rate during the forecast period of 2023-2033. This study demonstrates the tape storage market trends and market dynamics globally across seven regional markets: North America, Latin America, Europe, China, Japan, SEA and Others of APAC, and the Middle East and Africa, which influence the current outlook and the future status of the tape storage market.

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Report Description

This market research report offers a detailed analysis of the global tape storage market and provides insights regarding the macro-economic and forecast factors driving the popularity of tape storage and their practicality for modern enterprises. The tape storage market report includes an extensive analysis on the key tape storage industry trends, restraints, drivers, and the overall tape storage market structure. The tape storage market study offers a comprehensive assessment of various stakeholder strategies and imperatives for succeeding in the tape storage business. As per the report, the global tape storage market is segmented based on technology, industry, end user, and component across different regional markets.

Magnetic tape storage is the best option for the long-term high-capacity data back-up and archiving, following an increase in the volumes of data. This factor is expected to be the primary driver of the tape storage market. As the data storage capacity of tapes continues to grow, the LTO program offers a defined schedule for upcoming tape storage technology upgrades and releases. Typically, the LTO program launches a new version of LTO format every two to three years, and this trend is expected to continue during the forecast period. This factor is estimated to enable the tape storage market to grow steadily in the years to come as the ever-rising data volumes motivate enterprises to procure upgraded tape storage technologies. The arrival of enhanced technologies with high capacities is also expected to boost the tape storage market.

The tape storage market study starts with an overview of the global tape storage market in terms its value. In addition, this section also includes the analysis of key industry trends, restraints, and drivers from the supply, demand, and economy sides, which are influencing the global tape storage market.

Based technology, the global tape storage market is segmented into LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, DDS-1, DDS-2, DDS-3, DDS-4, DLT IV, and SDLT. On the basis of industry, the global tape storage market is segmented into IT & telecommunication, BFSI, media & entertainment, research & academia, healthcare, oil & gas, and government & defense, among others. With regards to the end users, the global tape storage market can be segregated into cloud providers, data centers, and enterprises, among others. The enterprise end-user segment has been further segmented into SMEs and large enterprises. With respect to the tape storage equipment components, the global tape storage market is segmented into tape cartridges and tape vaults.

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A detailed market analysis has been provided for each market segment in terms of market size in every regional tape storage market. This section also offers a detailed analysis that covers the ongoing trends in the global tape storage market.

The next section in the tape storage market study provides a detailed analysis of the market across various countries in different regions. It offers an expected market outlook during the forecast period 2018 - 2026 within the context of the tape storage market, which includes the latest technological developments and offerings in the tape storage market. This section also discusses the key trends within countries that are contributing to the growth of the overall tape storage market in a region, and offers an analysis of the degree at which market drivers are influencing the growth of the tape storage market in each region. Key regions and countries assessed in the global tape storage market study include North America - U.S. and Canada; Latin America - Brazil, Mexico, and the rest of Latin America; Europe - Germany, Italy, France, U.K., Spain, Russia, and the rest of Europe; SEA and Others of APAC - India, ASEAN, Australia & New Zealand, and the rest of SEA & Others of APAC; China; Japan; and the Middle East and Africa - Northern Africa, GCC Countries, South Africa, Turkey, and the rest of Middle East and Africa. This global tape storage market study showcases the present scenario and the future growth prospects of the tape storage market across various regions for the forecast period of 2018 to 2026. 2017 has been considered as the base year and data has been provided for the remaining 12 months.

To deduce an accurate forecast, we started by evaluating the current market size, which formed a base for us to understand the future growth trends in the tape storage market. Using different analytical outcomes, we have triangulated the overall growth trend as per the characteristics of the global tape storage market.

The global tape storage market is segregated into different segments, as highlighted previously. All the market segments are analyzed in terms of the Basis Points System (BPS) to showcase the relative contribution of an individual segment to the global tape storage market growth. This information plays a major role in identifying the various trends in the global tape storage market.

Another key feature of the global tape storage market report is the segmental absolute dollar opportunity analysis. Traditionally, this factor is overlooked while forecasting the market. Analysis based on absolute dollar opportunities is critical in deducing the level of opportunity that a tape storage vendor can look to achieve in the market.

In the final section of the global tape storage market report, we have added a competitive landscape to provide a dashboard view, which is based on categories of vendors in the value chain, key differentiators, and their presence in tape storage portfolio. This section is designed to offer a detailed comparative assessment of key manufacturers specific to each market segment in the global tape storage supply chain and the potential players for each tape storage market segment.

The global tape storage market report provides segment-based vendor insights to identify the key competitors in the global tape storage market on the basis of an in-depth assessment of their success and growth capabilities in the tape storage market arena. Detailed profiles of tape storage technology developers are also included in the competitive landscape, which help evaluate their short- and long-term strategies, financials, and key product offerings in the global tape storage market. Some of the key tape storage market competitors covered 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.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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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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