Tape Storage Market

Market Overview:

The global tape storage market size reached US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.

Tape storage is a device storing computer data on a magnetic tape for backup and archiving purposes. It records information on a loop of flexible celluloid-like material, which can be read and erased depending on the requirement. As it is cost-efficient compared to solid-state drives (SSDs), tape storage finds extensive applications in information and technology (IT), telecom, media and entertainment, healthcare, oil and gas, government, and defense sectors worldwide. Presently, it is available in various sizes and capabilities and sold as standalone units or stacked in data center racks to create tape libraries.

Tape Storage Market Trends:

With the increasing volume of human and machine-generated data and a shift from paper-based data to computerized data, there is a rise in the demand for tape storage across the globe. This, along with the growing utilization of tape storage by large enterprises for high-capacity data backup, represents one of the key factors driving the market. Moreover, key market players are extensively investing in research and development (R&D) activities to develop advanced high storage data cartridges, which is propelling the growth of the market. In addition, tape storage offers several benefits, such as durability, longevity, energy efficiency, and scalability compared to conventional storage systems. This, coupled with the growing traction of high-definition 4K and 8K videos, internet of things (IoT), and artificial intelligence (AI) based big-data analysis, is positively influencing the market. Besides this, expanding businesses and trades around the world are offering lucrative growth opportunities to industry investors. Additionally, the increasing employment of tape storage in the defense sector to secure sensitive data offline is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global tape storage market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology, capacity, use case, end use and industry vertical.

Breakup by Component:

• Tape Cartridges
• Tape Vault
   

Breakup 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
   

Breakup by Capacity:

• Less Than 1 TB
• 1 TB to 200 TB
• 201 TB to 999 TB
• 1 PB to 100 PB
• More Than 100 PB
   

Breakup by Use Case:

• Backup
• Archiving
   

Breakup by End Use:

• Data Centers
• Cloud Providers
• Enterprises
   

Breakup by Industry Vertical:

• IT and Telecommunication
• BFSI
• Media and Entertainment
• Healthcare
• Oil and Gas
• Government and Defense
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Dell Technologies Inc., FUJIFILM Holdings Corporation, Hewlett Packard Enterprise Company, International Business Machines Corporation, Lenovo Group Limited, Oracle Corporation, Overland-Tandberg, QStar Technologies Inc., Qualstar Corporation, Quantum Corporation and Spectra Logic Corporation.

Report Coverage: