Tape Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Tape Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Key Questions Answered in This Report:
How has the global tape storage market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global tape storage market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the capacity?
What is the breakup of the market based on the use case?
What is the breakup of the market based on the end use?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global tape storage market and who are the key players?
What is the degree of competition in the industry?