Magnetic tape storage is a system that enables the storage of digital data on a magnetic tape. It is based on one of the oldest concepts of digital information storage. Though tape storage technology has been displaced as a primary back-up storage medium, it still remains well-suited for the purpose of archiving digital data owing to its long-term durability, low cost and high data storage capacity. Robotic selection and appropriate cartridge loading can add latency in case the tape storage technology is a part of a library.
In case of tape storage technology, there is no online copy of the data as all the information is vaulted for the long-term. This aspect has its pros and cons. The “air gap” enables the tape storage technology to protect an enterprise’s data from cyber-attacks by eliminating the option of network connectivity, however, the quick retrieval of data is not possible.
In this market study, PMR has segmented the global tape storage market by technology, end user, industry, and component on a regional scale.
With respect to the tape storage technology, the global tape storage market is segregated as LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, DDS-1, DDS-2, DDS-3, DDS-4, DLT IV, and SDLT. The LTO-8 technology of tape storage is estimated to hold the largest share of the global tape storage market by the end of the forecast period. High demand for high-capacity tape storage equipment from small, medium, and large enterprises is expected to propel the growth of the LTO-8 tape storage technology during the forecast year.
Ever-rising data volumes are expected to drive the tape storage market
On the basis of end-user segments, the global tape storage market is sub-segmented into cloud providers, data centres, and enterprises, among other end users. The enterprise end-users segment is further segregated into SMEs and large enterprises. Small and medium-sized enterprises, along with large enterprises, are expected to hold the largest share of the global tape storage market during the forecast period. Under the enterprise sub-segment, large enterprises are estimated to record the highest market share by the end of the forecast year 2026. This can be attributed to the fact that large enterprises find magnetic tape storage the best option for long-term high-capacity data back-up and archiving, following the ever-increasing volumes of enterprise-grade data.
An increasing number of organizations have started procuring efficient magnetic tape storage technology due to persistent threats of ransomware attacks on their networks
With respect to the industry, the global tape storage market is segmented into IT and telecommunication, BFSI, media & entertainment, research & academia, healthcare, oil & gas, and government & defence, among other industries. Tape storage technologies find most common applications in the information and telecom industry. Thus, the IT and telecommunication industry is expected to hold the largest market share of the global tape storage market by the end of the forecast period. The offline nature of tape storage technology is a major selling point and is expected to motivate industries to accelerate the procurement of tape storage equipment.
The tape storage market is expected to continue showcasing high potential in the North America region during the forecast period
With regards to geography, the North America tape storage market is estimated to hold the largest market share of the global tape storage market by the end of 2018. By the end of the forecast year 2026, North America is expected to continue to lead the global tape storage market. The large presence of tape storage technology developers is driving the tape storage market in North America. Companies have turned to a technology that was in high demand in the 1950s to tackle persistent cyber threats. In addition, the developers of tape storage technology are undertaking research & development initiatives to fulfil the high demand for enhanced storage capacity in tape storage devices due to heavy data generation. The SEA and Others of APAC region is expected to hold the second largest market share of the global tape storage market. Advancements in tape storage, in terms of cartridge capacity and drive roadmaps, is supported by continued investments in the technology. SEA and Others of APAC is followed by the European tape storage market. The enterprise-grade tape storage development strategy in Europe emphasizes on enhancing reliability, media-up conversion, and capacity.
As per PMR analysis, tape storage technology has become an ideal solution for several next-generation applications that are swiftly outgrowing their traditional storage infrastructure. These applications include addressing the data storage and security needs for surveillance, Internet of Things, hyper-scale computing, entertainment, cloud storage services, and Big Data. These applications of tape storage technology are expected to generate enormous demand in the market. In 2018, Veeam entered into a partnership with Quantum and launched a converged tape appliance with integrated data protection software developed by Veeam and Quantum’s back-up technology. In 2017, Sony and IBM innovated an upgrade in their tape storage technology for the highest recorded areal density, and this resulted in the creation of approximately 330 terabytes of uncompressed capacity per tape cartridge. Some of the leading cloud-based data storage service providers, which include Google Cloud Platform, Microsoft Azure, and Amazon Web Services, have integrated LTFS-attached tape storage libraries into their storage infrastructure to eliminate the threat of the loss of client/user data. Some key players profiled in the global tape storage market report are 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; and Spectra Logic Corporation.
Persistence Market Research (PMR) offers an eight-year forecast for the global tape storage market between 2018 and 2026. In terms of market value, comparatively newer technologies in the tape storage market are estimated to register a steady growth rate during the forecast period of 2018-2026. This study demonstrates the tape storage market trends and market dynamics globally across seven regional markets: North America, Latin America, Europe, China, Japan, SEA and Others of APAC, and the Middle East and Africa, which influence the current outlook and the future status of the tape storage market.
This market research report offers a detailed analysis of the global tape storage market and provides insights regarding the macro-economic and forecast factors driving the popularity of tape storage and their practicality for modern enterprises. The tape storage market report includes an extensive analysis on the key tape storage industry trends, restraints, drivers, and the overall tape storage market structure. The tape storage market study offers a comprehensive assessment of various stakeholder strategies and imperatives for succeeding in the tape storage business. As per the report, the global tape storage market is segmented based on technology, industry, end user, and component across different regional markets.
Magnetic tape storage is the best option for the long-term high-capacity data back-up and archiving, following an increase in the volumes of data. This factor is expected to be the primary driver of the tape storage market. As the data storage capacity of tapes continues to grow, the LTO program offers a defined schedule for upcoming tape storage technology upgrades and releases. Typically, the LTO program launches a new version of LTO format every two to three years, and this trend is expected to continue during the forecast period. This factor is estimated to enable the tape storage market to grow steadily in the years to come as the ever-rising data volumes motivate enterprises to procure upgraded tape storage technologies. The arrival of enhanced technologies with high capacities is also expected to boost the tape storage market.
The tape storage market study starts with an overview of the global tape storage market in terms its value. In addition, this section also includes the analysis of key industry trends, restraints, and drivers from the supply, demand, and economy sides, which are influencing the global tape storage market.
Based technology, the global tape storage market is segmented into LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, DDS-1, DDS-2, DDS-3, DDS-4, DLT IV, and SDLT. On the basis of industry, the global tape storage market is segmented into IT & telecommunication, BFSI, media & entertainment, research & academia, healthcare, oil & gas, and government & defense, among others. With regards to the end users, the global tape storage market can be segregated into cloud providers, data centers, and enterprises, among others. The enterprise end-user segment has been further segmented into SMEs and large enterprises. With respect to the tape storage equipment components, the global tape storage market is segmented into tape cartridges and tape vaults.
A detailed market analysis has been provided for each market segment in terms of market size in every regional tape storage market. This section also offers a detailed analysis that covers the ongoing trends in the global tape storage market.
The next section in the tape storage market study provides a detailed analysis of the market across various countries in different regions. It offers an expected market outlook during the forecast period 2018 – 2026 within the context of the tape storage market, which includes the latest technological developments and offerings in the tape storage market. This section also discusses the key trends within countries that are contributing to the growth of the overall tape storage market in a region, and offers an analysis of the degree at which market drivers are influencing the growth of the tape storage market in each region. Key regions and countries assessed in the global tape storage market study include North America – U.S. and Canada; Latin America – Brazil, Mexico, and the rest of Latin America; Europe – Germany, Italy, France, U.K., Spain, Russia, and the rest of Europe; SEA and Others of APAC – India, ASEAN, Australia & New Zealand, and the rest of SEA & Others of APAC; China; Japan; and the Middle East and Africa – Northern Africa, GCC Countries, South Africa, Turkey, and the rest of Middle East and Africa. This global tape storage market study showcases the present scenario and the future growth prospects of the tape storage market across various regions for the forecast period of 2018 to 2026. 2017 has been considered as the base year and data has been provided for the remaining 12 months.
To deduce an accurate forecast, we started by evaluating the current market size, which formed a base for us to understand the future growth trends in the tape storage market. Using different analytical outcomes, we have triangulated the overall growth trend as per the characteristics of the global tape storage market.
The global tape storage market is segregated into different segments, as highlighted previously. All the market segments are analyzed in terms of the Basis Points System (BPS) to showcase the relative contribution of an individual segment to the global tape storage market growth. This information plays a major role in identifying the various trends in the global tape storage market.
Another key feature of the global tape storage market report is the segmental absolute dollar opportunity analysis. Traditionally, this factor is overlooked while forecasting the market. Analysis based on absolute dollar opportunities is critical in deducing the level of opportunity that a tape storage vendor can look to achieve in the market.
In the final section of the global tape storage market report, we have added a competitive landscape to provide a dashboard view, which is based on categories of vendors in the value chain, key differentiators, and their presence in tape storage portfolio. This section is designed to offer a detailed comparative assessment of key manufacturers specific to each market segment in the global tape storage supply chain and the potential players for each tape storage market segment. The global tape storage market report provides segment-based vendor insights to identify the key competitors in the global tape storage market on the basis of an in-depth assessment of their success and growth capabilities in the tape storage market arena. Detailed profiles of tape storage technology developers are also included in the competitive landscape, which help evaluate their short- and long-term strategies, financials, and key product offerings in the global tape storage market. Some of the key tape storage market competitors covered in the global tape storage market report are 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; and Spectra Logic Corporation.
Key segments in the global tape storage market:
Key regions covered in the global tape storage market report:
Key vendors in the global tape storage market: