Press release
Tape Storage Market : Global Trends, Analysis and Forecast 2025
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Tape storage can effectively address various industrial demands of increasing data storage such as entertainment, internet etc. There is growing number data intensive applications where data is needed to be backup, recovered, archived for disaster recovery and compliance. Even though disk storage is enhancing tape storage is still maintaining its dominance over the market and is expected to have significant market in the coming years.
There is signification growth in implementation of tape storage solutions by majority of cloud service providers in their cloud infrastructure due to a vast increase in the amount of data needed to be stored and increasing cost of the HDDs as tape storage offers cost effective solutions.The major market driver for growth of tape storage market is unprecedented growth in data due to technological advancements. Due to the regulatory concerns some organisations are needed to store data in tape storage in order to access it forever.
The other major market driver for the tape storage market is tape storage is primarily used by many organisations for backup and for disaster recovery. The long term retention requirements for various organisations for compliance purposes is the major driver for the growth of the tape storage solutions.
Continuous innovation and investment in tape storage has made significant advancements in order to address the constant demand in order to improve reliability, capacity and efficiency of the tape storage products. The increased in reliability of tape storage compared to the disk storage is expected to fuel the market for the tape storage market.
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Some of the Key players in Tape Storage Market include IBM Corporation, Dell Inc., Quantum Corporation, Tandberg Data, HP Corporation, NetApp, Inc., Hewlett Packard Enterprise Company and Fujitsu Corporation.
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