Tape Storage Market Report 2023- 2028, Size, Share, Growth, Industry Analysis, Trends and Forecast
The global tape storage market size reached US$ 7.5 Billion in 2022. By 2028, It will reach US$ 11.5 Billion, exhibiting a CAGR of 7.1% during 2023-2028.
SHERIDAN, WYOMING, USA, February 3, 2023 /EINPresswire.com/ — According to the latest report by IMARC Group, titled, “Tape Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The global tape storage market reached a value of US$ 7.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a CAGR of 7.1% during 2023-2028.
Tape storage represents a device that records and stores computer data on a magnetic tape for archiving and backup purposes. It mainly comprises of two components, including tape cartridges and tape vaults. Tape storage systems record information on a loop of flexible celluloid-like material, which can be erased or read depending on the requirement. They are extremely cost-efficient as compared to solid-state drives (SSDs) and offer multiple benefits, which include longevity, durability, energy efficiency, and scalability. As a result, tape storage solutions find extensive applications across numerous sectors, such as information technology (IT), telecommunication, banking, media and entertainment, healthcare, oil and gas, government and defense, etc.
Tape Storage Market Trends
The growing volume of human and machine-generated data and the shifting preferences from paper-based data toward computerized data are among the key factors driving the tape storage market. In addition to this, the increasing employment of the devices by large enterprises for high-capacity data backup and the inflating investments by leading market players in research and development (R&D) activities for developing advanced high-storage data cartridges are acting as significant growth-inducing factors. Apart from this, the expanding digitization and industrialization and the elevating traction of high-definition 4K and 8K videos, the internet of things or IoT, and artificial intelligence or AI-based big-data analysis is further stimulating the market growth. Besides this, the escalating utilization of the product in the defense segment for securing sensitive data offline and for offline backup during system failure is expected to propel the tape storage market over the forecasted period.
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The competitive landscape of the tape storage market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the based on component, technology, capacity, use case, end use and industry vertical.
Breakup by Component:
Breakup by Technology:
LTO-1 to LTO-5
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:
Breakup by End Use:
Breakup by Industry Vertical:
IT and Telecommunication
Media and Entertainment
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
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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