Press release
Tape Storage Global Market Report 2025: Surging Data Volumes Drive Market Growth of $10.3 billion at CAGR 12.8%
Tape Storage Market Overview
What Is The Projected Market Size Of The Global Tape Storage Market And Its Growth Rate?
• The Tape Storage market size went from $5.76 billion in 2024 to an estimated $6.37 billion in 2025, growing at a CAGR of 10.6%.
• The market is projected to grow rapidly in the next few years to reach $10.3 billion in 2029, growing at a CAGR of 12.8%.
What Is Driving The Growth In The Tape Storage Market?
The key driver of growth in the Tape Storage market is the rapid increase in data volumes, which can be attributed to factors like the proliferation of IoT devices, the rise of cloud computing, big data analytics, digital content creation, and the increasing use of artificial intelligence and machine learning. Organizations are turning to Tape Storage for managing the growing amount of data they generate, as it offers a reliable and cost-efficient solution for long-term data archiving and backup. For instance, in December 2022, The Linux Foundation reported a significant increase in data growth, with average end-user organizations reaching 2,208 TB-a 215.43% rise from the 700 TB recorded in 2021.
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Who Are the Key Players Driving Tape Storage Market Growth?
Major companies operating in the tape storage market include:
•Dell Technologies Inc.
•Hitachi Ltd.
•Sony Corporation
•Lenovo Group Limited
•International Business Machines Corporation
•Oracle Corporation
•Hewlett Packard Enterprise Company
•Fujitsu Limited
•Toshiba Corporation
•Fujifilm Holdings Corporation
•Western Digital Corporation
•TDK Corporation
•Seagate Technology Holdings plc
•NetApp Inc.
•Iron Mountain Incorporated
•Qualstar Corporation
•Maxell Holdings Ltd.
•Quantum Corporation
•Barracuda Networks Inc.
•BDT Media Automation GmbH
•Overland Tandberg EMEA
•Spectra Logic Corporation
•Tandberg Data GmbH
•QStar Technologies Inc.
•Sphere 3D Corp
•GlassBridge Enterprises Inc.
•Imation Corp
•Advanced Digital Information Corporation
•StorageTek Corp
What Are The Key Trends In The Tape Storage Market?
Key trends in the Tape Storage market include:
•Development of energy-efficient tape storage technologies
•Enhancements in data encryption and security features
•Utilization of tape storage in hybrid multi-cloud environments
•Introduction of tape storage as a service (TSaaS)
•Collaborations for standardization and interoperability
What Are The Segments Of The Global Tape Storage Market?
The Tape Storage market is segmented as follows:
•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
Which Region Leads The Tape Storage Market?
North America was the largest region in the tape storage market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tape storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Tape Storage Global Market Report?
- Market Size Analysis: Analyze the Tape Storage market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Tape Storage Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Tape Storage Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Tape Storage Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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