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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Tape Storage Market 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.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124