Tape Storage Market

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tape storage market

It’s no surprise to anyone that tape storage has been around for so long. But how has it stood the test of time and better yet, how does it continue to thrive in a digital world? Tape storage and its components are what make the back-up and archival of enterprise digital data possible on a magnetic reel.

The features alone such as high data storage capacity, low cost and power consumption, and long-term durability are what have set it apart for decades.

 

Not only does tape storage have unparalleled qualities that distinguish it from any other storage medium, it can be specialized for different end users. Several established industry vendors offer customized tape storage for government and defense, energy, healthcare, education, entertainment, financial, IT and telecommunication sectors.

The Market Size of Tape

According to industry reports from Persistence Market Research the global tape storage market was valued at over $5,799.4 Mn in 2017. By the end of the forecast year 2026, the global tape storage market is expected to reach a value of US$ 6,527.2 Mn.

 

In terms of tape growth per technology sector, the technology can be broken down into DDS-1, DDS-2, DDS-3, DDS-4, LTO-1 through LTO-5, LTO-6, LTO-7, and most recently LTO-8. In fact, tape cartridge and tape drive manufacturers have provided roadmaps for growth that have projected a continued trend of doubling capacity in a 24-month to 30-month cycle in the tape storage market.

tape storage market
Courtesy HP

The Tape Demographic

In regards to tape storage end users, the market can be divided into enterprises, data centers, cloud providers, and other smaller tape storage end users. Enterprise end users can be further segmented into large enterprises and small and medium enterprises.

As expected, large businesses are projected to gain a greater market share by the end of the forecasted period compared to small and medium enterprises. The constant and rapid expansion of digital data and the high capacity storage volume that tape technology offers appears to be the primary source of the

By 2026, the tape storage market in North America is expected to maintain the largest share of the global tape storage market, followed by Southeast Asia and other Asia Pacific countries. This is due to the high adoption of next-generation tape storage technologies in North America, especially in the United States. Whereas the Asian markets are likely to be the target market for established market players.

Courtesy Persistent Market Research

Tape in Different Industries

The unlikely hero in the North American tape storage technology dominance is the various motion picture production organizations. These entertainment enterprises are recording their footage media on tape in order to minimize expensive and unnecessary failures with flash drives as well as hard disks.

Scientific research organizations have been known to take advantage of the unparalleled back-up speeds and capacity of tape storage technology. These features allow researchers to store the mass-produced data in a minimal amount of time. The energy sectors such as oil and gas have been using the tape storage technology for quite a few years, leveraging the ease of storage and transportation of valuable data.

Conclusion

The more large, medium, and small enterprises begin to understand the true advantages of tape storage technology in a constantly evolving digital world, the market for tape equipment will only continue to grow.

Tape storage and its components are what make the back-up and archival of enterprise digital data possible on a magnetic reel. The features of tape technology are truly beyond compare and will continue to keep tape storage on the minds of data hoarders for decades to come.

 

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