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Global Tape Storage Market 2023 Latest Trends, Regional Growth, Industry Share And Forecast To 2032 | Major Players Are Dell Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Lenovo, Overland Storage
Tape Storage Market
The Business Research Company's Tape Storage Global Market Report 2023 identifies adoption of tape storage as the major driver for the Tape Storage Market's growth in the forecast period. Large enterprises use tape storage for storing various business files. The use of tape storage in large enterprises offers advantages such as longevity and portability. Also, helps in storing large amounts of data in a small physical package.
The global tape storage market size grew from $4.63 billion in 2022 to $5.22 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The tape storage market size is expected to grow to $8.29 billion in 2027 at a CAGR of 12.3%.
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Major competitors in the Tape Storage Market are Dell Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Lenovo, Overland Storage, Qualstar Corporation, Quantum Corporation, Seagate Technology PLC., Sony Corporation, QStar Technologies Inc., Spectra Logic Corporation, FUJIFILM Holdings Corporation, Oracle Corporation and StarWind Software Inc.
A key trend in the Tape Storage Market includes technological advancement Major companies operating in the market are introducing new technologies such as SB LTO tape drive that works on LTO-9 technology to sustain their position in the market. For instance, in January 2022, UNITEX Corporation, a Japan-based computer storage space company, introduced the SB LTO tape drive, which provides secured storage solutions and helps to meet the full range of rapidly evolving requirements for storage of less active data. With the help of LTO-9 technology, it helps to transfer data with a speed of up to 300MB/second. This also had a native storage capacity of 18TB and a compressed storage capacity at 2.5:1 of 45TB.
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The Tape Storage Market is segmented -
By Capacity: Archiving, Backup
By Component: Tape Cartridges, Tape Vault
By Technology: LTO-1 To LTO-5, LTO-6, LTO-7, LTO-8, LTO-9, DDS-1, DDS-2, DDS-3, DDS-4, DLT IV
By End-Use: Cloud Providers, Data Center, Enterprises
By Industrial Vertical: Information Technology (IT) And Telecom, Banking, Financial Services, And Insurance (BFSI), Media And Entertainment, Healthcare, Oil And Gas, Government And Defense
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Tape Storage Market.
The Business Research Company's "Global Tape Storage Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Tape Storage Market Include:
1. Executive Summary
2. Tape Storage Market Characteristics
3. Tape Storage Market Trends And Strategies
4. Tape Storage Market - Macro Economic Scenario
5. Tape Storage Market Size And Growth
……
26. Africa Tape Storage Market
27. Tape Storage Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tape Storage Market
29. Tape Storage Market Future Outlook and Potential Analysis
30. Appendix
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