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Tape Storage Market

Global Market Study on Tape Storage: Continuous Increase in Digital Data Volumes to Spur Growth

Tape Storage Market by Technology (LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, DDS-1, DDS-2)

Tape Storage Market Outlook (2023 to 2033)

As of 2022, demand for the Tape Storage Market is estimated at US$ 5,422.5 Million and is forecasted to sales of US$ 12,751.4 Million by the end of 2033. The tape storage market is estimated to be US$ 5,780.4 Million by 2023, and the market is anticipated to progress at a CAGR of 8.2% during the forecast period 2023 to 2033.

Tape storage is a method of data storage that uses magnetic tape as the storage medium, and it remains a popular option for long-term data storage, particularly for large amounts of data that need to be stored. Tape storage consists of 12.5% of the global storage systems market.

Data is stored on the tape as a series of magnetic charges that can be read back by the tape drive. Because the tape is a sequential storage medium, data must be accessed in the order it was written. This makes tape storage well-suited for archiving large amounts of data that do not need to be accessed frequently, but may need to be retrieved at some point.

Governments and public sector organizations use tape storage to store and archive important records and data, including financial data, tax records, and citizen information. Tape provides a secure and reliable way to store this information for long periods of time.

In 2022, the market was dominated with North America with a market share of 24.3% and it was followed by the market share of Europe of 20.6%.

Tape Storage Market Size (2022)

US$ 5,422.5 Million

Projected Market Value (2033)

US$ 12,751.4 Million

Global Market Growth Rate (2023 to 2033)

8.2%

LTO-8 Market Share (2022)

15.1%

Germany Market Share (2022)

13.2 %

Media & Entertainment Market Growth Rate (2023 to 2033)

12.2%

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What are the Major Trends of Tape Storage Market?

“Increasing Threats of Ransomware Attacks on Enterprises Network Is Analysed to Accelerate the Adoption of Tape Storage”

There has been a rising trend of ransomware attacks targeting organizations' network. Tape storage is often used by organizations as a reliable and cost-effective way to backup and store large amounts of data. However, the use of tape storage can also present vulnerabilities, as it is often not as well-protected as other storage systems.

Ransomware attacks on tape storage can cause significant disruption to an organization's ability to access critical data and may result in the loss of important information. Attackers can gain access to tape storage through a variety of means, including phishing attacks, exploiting vulnerabilities in software, or social engineering tactics. Once the attacker has gained access, they can encrypt the data on the tape storage and demand a ransom in exchange for the decryption key.

The impact of a ransomware attack on tape storage can be particularly severe for organizations that rely heavily on their data, such as those in the healthcare, financial, and government sectors. As such, it is important for organizations to take proactive measures to protect their tape storage and backup systems, including implementing strong security protocols, regularly testing backup and recovery procedures, and providing Cyber Security training to employees to help them identify and avoid potential threats.

  • In February 2021, four data centers were launched by OVHcloud for IBM tape cloud storage. The data centres used for this upcoming tape storage system will be brand-new buildings in new places. They will be able to grow thanks to this launch's little environmental impact, low power needs, no need for water cooling.
  • In May 2020, Software defined tape was launched by fujifilm, This programme combines magnetic tape storage with object storage for low-cost, secure long-term data storage, enabling user-site control of petabyte-class*1 huge data with simplicity.
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What are the factors expanding the growth of Tape Storage Market in United States.?

“Rising Demand for Cost Efficient Storage Solution are facilitating the Adoption of Tape Storage”

While many people believe that tape storage is an outdated technology, it has proven to be a reliable and cost-effective solution for storing large amounts of data. In fact, tape storage is often used for long-term archival storage, as it has a low cost per gigabyte and a long shelf life.

As businesses and organizations continue to collect and generate more data, they require more efficient and affordable ways to store it. Tape storage provides a viable solution for this need, as it can store massive amounts of data in a compact and secure format.

Also, increasing need for data backup and disaster recovery solutions drive demand for tape storage devices. Tape storage has proven to be a reliable backup solution, and many organizations are turning to it as part of their disaster recovery plans. With the rise of cyber threats and natural disasters, having a reliable and secure backup solution is essential for businesses to ensure their data is safe and accessible in case of an emergency.

Overall, tape storage may not be the most glamorous technology in the market, it is still a highly valuable and important solution for many organizations. With its low cost, high capacity, and reliable performance, it is likely that the tape storage market in the United States will continue to grow.

Due to these reasons, in 2022, the United States tape storage market helped the country to account for a dominant share of 12.1% in the global marketplace.

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What are the factors for Tape Storage Market Driving the Growth in India?

“Increasing Adoption of Data Volumes in Large Enterprises”

As the volume of data continues to grow for large enterprises in India, tape storage is increasingly being used as a reliable and cost-effective solution for data backup and archiving. While other storage technologies such as disk and cloud are commonly used for active data storage, tape offers a number of benefits for long-term data retention and backup.

The tape storage provides a lower cost per gigabyte compared to other storage options, making it an attractive option for businesses looking to manage costs while still maintaining data integrity and reliability.

This is especially important for large enterprises, which may have to store petabytes or even exabyte of data.

Overall, as the volume of data continues to grow in large enterprises in India, tape storage remains a valuable and growing market for long-term data retention and backup, offering a reliable and cost-effective solution for businesses looking to manage their data storage needs.

The CAGR of India for tape storage market is predicted to be around 13.5%.

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Why in Europe, Germany is creating Opportunity for Tape Storage Market?

“Adoption of Advanced Technologies and Applications in Tape Storage Industry”

Germany has a strong reputation for advanced technologies and innovation, which has created significant opportunities in the tape storage industry. The companies have been at the forefront of developing new tape storage technologies and applications, which have helped to improve the performance and reliability of tape storage systems. Different companies have been working to develop new applications for tape storage, including the use of tape in cloud storage environments. This can provide a cost-effective and scalable way to store large amounts of data in the cloud, while still maintaining the durability and reliability of tape storage.

Overall, the advanced technologies and applications being developed in Germany are creating new opportunities in the tape storage industry, and are helping to ensure that tape storage remains a viable and important part of many organizations' storage strategies.

Due to this reason, the tape storage market for the Germany in 2022 held a market share of 13.2% in the global tape storage market.

Category-wise Insights

Which Segment in Technology Holds the Largest Market Share in Tape Storage Market?

“LTO-8 Holds Largest Market Share in Tape Storage”

The LTO-8 currently holds the largest segment in tape storage due to its high storage capacity and fast data transfer rates. Many organizations, particularly those in industries such as media and entertainment, healthcare, and finance, have adopted LTO-8 technology for their data storage and archival needs. The ability to store up to 12 TB of uncompressed data, and up to 30 TB with data compression, makes it an attractive option for businesses with large amounts of data that need to be stored for long periods of time.

In addition, LTO-8 fast data transfer rates of up to 360 MB/s (uncompressed) and up to 900 MB/s (compressed) allow organizations to quickly and efficiently transfer large amounts of data to and from the tape, which is important for backup and restore operations.

In 2022 the, LTO-8 share was estimated to dominate the global market and account for 15.1% of the total market value share.

Why the Adoption of Tape Storage in Media & Entertainment Segment?

“High Storage Capabilities of Tape Storage in Media & Entertainment”

Tape storage has been widely adopted in the media and entertainment segment due to its long-term archival capabilities, high storage capacity, and low cost. Media and entertainment companies often need to store vast amounts of data, including high-resolution video files, audio recordings, and other digital assets, for extended periods of time. Tape storage is ideal for this purpose as it offers high-density storage and a lower cost per GB compared to other storage options like solid-state drives or hard disk drives.

Additionally, tape storage is highly durable and reliable, making it an ideal solution for long-term archival needs. Many media and entertainment companies also use tape storage for disaster recovery purposes, allowing them to restore critical data in case of a catastrophic event like a cyber-attack, natural disaster, or hardware failure. Despite the increasing popularity of cloud storage and other digital storage options, tape storage remains a reliable and cost-effective solution for long-term data storage in the media and entertainment segment.

In 2022, it was estimated that the media & entertainment segment will account with a CAGR of more than 12.2% over the forecast period.

Competitive Landscape

Companies invest in research and development to create new and improved tape storage technologies. Companies may offer a wide range of tape storage products to cater to different applications and industries. Companies may focus on building strong brand recognition and promoting their products through various marketing channels. Companies may strive to reduce costs and increase efficiency in order to offer competitively priced products.

  • In September 2021, The LTO data cartridge was launched by Fujifilm called ultrium 9, which increases the capacity and speed for the next generation of secure data storage in tape. This is quicker, higher-capacity tape storage media is a significant step towards its lower prices, energy use, and CO2 emissions while maximising the inherent security advantages of tape storage.
  • In September 2021, Hewlett Packard Enterprise (HPE) acquired Zerto, this acquisition will accelerate innovation and expand available services to support customers in managing and safeguarding their data from the edge to the cloud.

Recent developments related to key players providing the tape storage market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Tape Storage Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Technology
  • Industry
  • End User
  • Component
  • Region

Key Companies Profiled

  • Dell Inc.
  • Fujifilm Holdings Corporation
  • Hewlett Packard Enterprise Development LP
  • IBM Corporation
  • Lenovo
  • Oracle
  • Overland Storage
  • Qualstar Corporation
  • Quantum Corporation
  • Seagate Technology PLC
  • Sony Corporation
  • Spectra Logic Corporation
  • OVHcloud
  • Others

Pricing

Available upon Request

Key Segments of Tape Storage Market Research

By Technology:

  • LTO-1 to LTO-5
  • LTO-6
  • LTO-7
  • LTO-8
  • DDS-1
  • DDS-2
  • DDS-3
  • DDS-4
  • DLT IV
  • SDLT

By Industry:

  • IT and Telecommunication
  • Banking, Financial Services and Insurance
  • Media and Entertainment
  • Research and Academia
  • Healthcare
  • Oil and Gas
  • Government and Defense
  • Others

By End User:

  • Cloud Providers
  • Data Centers
  • Enterprises
    • Small & Medium Enterprises
    • Large Enterprises
  • Others

By Component:

  • Tape Cartridges
  • Tape Vault

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Dell Inc.
  • Fujifilm Holding Corp
  • Hewlett Packard Enterprise Development LP
  • IBM Corporation
  • Lenovo
  • Oracle
  • Overland Storage
  • Qualstar Corporation
  • Quantum Corporation
  • Seagate Technology PLC
  • Sony Corporation
  • Spectra Logic Corporation
  • OVHcloud
  • Others

- Frequently Asked Questions -

In 2022, demand for the tape storage market amounted to US$ 5,422.5 Mn.

The global tape storage market is estimated to grow at a CAGR of 8.2% over the forecast period.

The market for tape storage market is forecasted to have a market value of US$ 12,751.4 Mn by 2033.

Demand for the tape storage market in India is projected to rise at 13.5% CAGR over the forecast period.

In 2022, North America tape storage market held a dominant market share of 24.3%.

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