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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Tape Storage Market Outlook
The global tape storage market attained a value of about USD 2.76 billion in 2021. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.3% to reach nearly USD 4.24 billion by 2027.
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The Asia Pacific to Witness the Fastest Growth During the Forecast Period
Regionally, North America holds the dominant position in the global market for tape storage due to the presence of numerous large enterprises. The Asia Pacific region is projected to register the highest CAGR during the forecast period owing to the emerging growth in demand from enterprises and consumers and because of expanding market players in the region. Among the various industry verticals, the IT and telecom industry accounted for the highest demand for tape storage and is likely to secure the leading position during the forecast period.
Moreover, daily worldwide production of data is witnessed to be skyrocketing, owing to the advent of HD 4K/8K videos, IoT, and AI-based big-data analysis. To fulfil this demand, the emergence of high-capacity tape storage is likely to aid the market growth positively.
Tape Storage: Market Segmentation
Tape storage, also known as magnetic tape data storage, is a system that uses magnetic tape as a recording media for the purpose of offline, archival data storage. Despite the competition it faces from contemporary advanced storage devices, tape storage remains popular among organisations and consumers for its long archival stability.
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The market is divided on the basis of capacity into:
- Less Than 1 TB
- 1 TB to 200 TB
- 201 TB to 999 TB
- 1 PB to 100 PB
- More Than 100 PB
The major components of tape storage are:
- Tape Cartridges
- Tape Vault
By technology, the market can be divided into:
- LTO-1 to LTO-4
- LTO-5 to LTO-6
- LTO-7 to LTO-9
- Others
On the basis of use case, the segments are:
- Archiving
- Backup
Based on end-use, the industry is segmented into:
- Cloud Providers
- Data Centres
- Enterprise
The market can be broadly categorised on the basis of its industry vertical segments into:
- IT and Telecom
- BFSI
- Media and Entertainment
- Healthcare
- Manufacturing
- Oil and Gas
- Government and Defence
- Others
The market can be broadly categorised on the basis of type into:
- Hardware
- Software
The EMR report looks into the regional markets of tape storage like North America, Europe, the Asia Pacific, LAMEA.
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Archival Stability and High Storage Capacity Likely to Bolster the Tape Storage Industry Growth
The global market for tape storage is primarily driven by the growing demand for archival stability and cyber security in large enterprises and business organisations. Organisations and enterprises require static storage units for a large amount of data, which is fulfilled by tape storage, which is comparatively less portable than other storage alternatives, and have diverse and huge capacity options. Additionally, industrialisation is estimated to aid the tape storage industry growth. Apart from the digitised solutions, the popularity of tape storage for offline backup during system failure pushes the product demand further. Meanwhile, the high cost of tape storage, and the emergence of cloud storage, compact and portable alternatives might prove to be hurdles for the growth. However, advanced technologies and applications are projected to offer profitable opportunities for the growth of the market during the forecast period.
Key Industry Players in the Global Tape Storage Market
The report presents a detailed analysis of the following key players in the global tape storage market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- DELL Technologies Inc.
- Hewlett Packard Enterprise Company
- International Business Machines Corporation (IBM)
- Overland Tandberg
- Oracle Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Capacity |
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| Breakup by Component |
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| Breakup by Technology |
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| Breakup by Use Case |
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| Breakup by End-Use |
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| Breakup by Industry Vertical |
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| Breakup by Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Tape Storage Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2021, the global tape storage market attained a value of nearly USD 2.76 billion.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The major drivers of the industry are the increased demand for archival stability and cyber security in large corporations and commercial organisations, emerging growth in demand from enterprises and consumers, and advanced technologies and applications.
The key trends driving the market forward include rapid industrialisation and the growing popularity of tape storage for offline backup in the case of a system breakdown.
The major regions in the industry are North America, Europe, Asia Pacific and LAMEA..
The market is divided on the basis of capacity into less than 1 TB, 1 TB to 200 TB, 201 TB to 999 TB, 1 PB to 100 PB, and more than 100 PB.
The major components of tape storage are tape cartridges and tape vault.
By technology, the market can be divided into LTO-1 to LTO-4, LTO-5 to LTO-6, LTO-7 to LTO-9, others.
On the basis of the use case, the segments are archiving and backup.
Based on end use, the industry is segmented into cloud providers, data centres, and enterprise.
IT and telecom is the dominant type of industry vertical in the market.
The major players in the industry are DELL Technologies Inc., Hewlett Packard Enterprise Company, International Business Machines Corporation (IBM), Overland Tandberg, and Oracle Corporation, among others.
The market, on the basis of type, is divided into hardware and software.
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