Tape Storage Market Size is projected to reach USD 9.39 billion by 2030, growing at a CAGR of 7.8%: Straits Research

The global tape storage market size was worth USD 4,779 million in 2021. It is expected to generate USD 9,395 million by 2030, growing at a CAGR of 7.8% during the forecast period (2022–2030), North America commands the leading position in the market and is expected to grow at a CAGR of 7.5% by 2030.

New York, United States, June 05, 2023 (GLOBE NEWSWIRE) -- Tape storage is a method of data storage that uses magnetic tape as the recording medium. It is a device that stores computer data and information on magnetic tape for backup and archival purposes. Like a typical tape recorder, a tape drive saves data on a loop of extensible celluloid-like material that can be read and erased. Tape storage is one of the early digital data storage techniques. It continues to be in high demand as a cost-effective, secure, and scalable tape storage technology for the long-term maintenance and protection of infrequently accessed but crucial data.

The key benefits of tape storage are its durability, low cost, and enormous capacity for storing data. Tapes are often less expensive than cloud storage. Further, they are an optimum alternative for more extensive capacity data storage. Tape storage is utilized as a backup in the event of a problem and for long-term data storage. It offers numerous benefits, including long-term storage, improved capacity, low running costs, and exceptional security and safety. The expansion of the worldwide tape storage market is majorly driven by the significant growth of data volumes and the rising use of tape storage by large organizations. In addition, the rise of ransomware attacks on enterprise networks leads to the expansion of the tape storage market.

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Extensive Rise in Data Volumes and the Widescale Use of Tape Storages by Large Organizations Drives the Market for Tape Storage

Traditional business data and information recorded by humans and machines are presently seeing the highest global growth rate. The ever-increasing volume of data is predicted to stimulate demand for tape storage solutions with larger capacity. This boom in the volume of data is partly attributable to the change from paper to digital data storage, which needs efficient storage solutions . Due to the exponential increase rate of data, data preservation is a severe problem; hence, tape storage is frequently used to store data backups in a secure area. This factor is expected to be the leading growth driver for the global tape storage market.

Large organizations are experiencing an exponential expansion in the number of enterprise-grade data and a rise in the demand for backup and archiving storage with a large capacity. In addition, tape storage is the most popular option for large enterprises since it satisfies their low-cost and high-volume data storage needs. Moreover, the establishment of enterprise-grade tape storage development initiatives among major corporations supports the adoption of tape storage in large organizations.

Additionally, there has been a growth in ransomware attacks worldwide. Companies are re-evaluating their data protection technologies and protocols. Thus, archiving to storage tape is one of the best options for such businesses to utilize physical air gaps for ransomware protection. Moreover, many organizations have already used magnetic tape storage technology on their networks. Companies isolate their data from the network and avoid security threats by storing it on separate drives, such as tape drives. This element is a significant development driver for the global market tape storage market.

Report Scope

Report Metric	Details
Market Size	USD 9.39 billion by 2030
CAGR	7.8% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Components, Technology, Capacity, Use Case, End-User, Industrial Vertical
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Dell Technologies Inc., International Business Machines Corporation, Hewlett Packard Enterprise Development LP, Quantum Corporation, Lenovo, Oracle Corporation, QStar Technologies, Inc., Spectra Logic Corporation, QUALSTAR CORP., Overland Tandberg.
Key Market Opportunities	A Rise in the Demand for Data Storage and Security
Key Market Drivers	Extensive Rise in Data Volumes Growth in the Use of Tape Storages by Large Organizations and the Attacks on Organizational Networks

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Regional Insights

North America holds the leading position in the market and is expected to grow at a CAGR of 7.5% by 2030. The landscape of the tape storage market in this region is constantly shifting and progressing. The primary factors driving the market's growth are the strong foothold of tape storage technology developers in the region and their continued investments and research & development activities pertaining to advanced storage technologies. This region also fosters substantial expenditures in digital content and is home to essential participants in the market, such as IBM, Dell Technologies Inc., and HPE. Thus, propelling the expansion of the global tape storage market.

Asia-Pacific is anticipated to grow swiftly at a CAGR of 9.1% and generate USD 2,639 million by 2030 . China, Japan, Thailand, India, and Indonesia, are making significant investments in tape storage. The Chinese market and the region's robust industrialization are the primary drivers of tape storage market expansion in Asia-Pacific. Furthermore, the ongoing developments in the field of tape storage, in terms of cartridge capacity, as well as the surge in investments in storage solutions, fuel the tape storage market expansion across the region.

In addition, businesses operating in industries such as media and entertainment, information technology and telecommunications, and banking, financial services, and insurance are struggling with the difficulties posed by rising data volumes, variety, and velocity, which has led to an increase in the demand for effective storage solutions, driving the tape storage market expansion in Asia-Pacific.

Key Highlights

The global tape storage market size was worth USD 4,779 million in 2021 . It is expected to generate USD 9,395 by 2030 , growing at a CAGR of 7.8% during the forecast period (2022–2030).
Based on components , the global tape storage market is segmented into Tape Cartridges and Tape Vault. Tape Cartridges are expected to hold the largest market share, growing at a CAGR of 7.9% during the forecast period.
Based on technology , the global tape storage market is segmented into LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, LTO-9, DDS-1, DDS-2, DDS-3, DDS-4, and DLT IV. LTO 8 is expected to hold the largest market share, growing at a CAGR of 9% by 2030.
Based on capacity , the global tape storage market is segmented 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. 1 TB to 200 TB is anticipated to hold the largest market share, growing at a CAGR of 8.8% during the forecast period.
Based on the use case , the global tape storage market is segmented into Backup and Archiving. Backup will likely hold a more significant market share, growing at a CAGR of 8.4% during the forecast period.
Based on end-user , the global tape storage market is segmented into Cloud Providers, Data Centers, and Enterprises. Data Centers are expected to hold the largest market share, growing at a CAGR of 7.8% during the forecast period.
Based on the industrial vertical , the global tape storage market is segmented into IT & Telecom, BFSI, Media & Entertainment, Healthcare, Oil & Gas, and Government & Defense. IT & Telecom is expected to hold the largest market share, growing at a CAGR of 9% by 2030.
Based on region , the global tape storage market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America will grow at a CAGR of 7.5% by 2030.

Competitors in Tape Storage Market

Dell Technologies Inc.
International Business Machines Corporation
Hewlett Packard Enterprise Development LP
Quantum Corporation
Lenovo
Oracle Corporation
QStar Technologies, Inc.
Spectra Logic Corporation
QUALSTAR CORP.
Overland Tandberg

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Segmentation of the Tape Storage Market

By Components

Tape Cartridges
Tape Vault

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

By Capacity

1 TB
1 TB to 200 TB
201 TB to 999 TB
1 PB to 100 PB
More than 100 PB

By Use Case

Archiving
Backup

By End-User

Cloud Providers
Data Center
Enterprises

By Industrial Vertical

IT & Telecom
BFSI
Media & Entertainment
Healthcare
Oil & Gas
Government & Defense

By Regions

North America
Europe
Asia-Pacific
LAMEA

TABLE OF CONTENT

Executive Summary
Research Scope & Segmentation
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
Market Opportunity Assessment
1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM
Market Trends
1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors
Market Assessment
1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Raw Material Analysis
4. Sales And Distribution Channel Analysis
5. Trade Analysis
6. Average Pricing Analysis
7. Case Study Analysis
8. Patent Analysis
9. M & A Agreements & Collabration Analysis
10. Export Import Analysis
11. Cost Structure Analysis
ESG TRENDS
Global Tape Storage Market Size Analysis
1. Global Tape Storage Market Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
North America Market Analysis
1. Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
8. U.S.
9. Canada
Europe Market Analysis
1. Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
8. U.K.
9. Germany
10. France
11. Spain
12. Italy
13. Russia
14. Nordic
15. Benelux
16. Rest Of Europe
APAC Market Analysis
1. Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
8. China
9. Korea
10. Japan
11. India
12. Australia
13. Taiwan
14. South East Asia
15. Rest Of Asia-Pacific
Middle East And Africa Market Analysis
1. Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
8. UAE
9. Turkey
10. Saudi Arabia
11. South Africa
12. Egypt
13. Nigeria
14. Rest Of MEA
LATAM Market Analysis
1. Introduction
2. By Components
  1. Introduction
    1. Components By Value
  2. Tape Cartridges
    1. By Value
  3. Tape Vault
    1. By Value
3. By Technology
  1. Introduction
    1. Technology By Value
  2. LTO-1 To LTO-5
    1. By Value
  3. LTO-6
    1. By Value
  4. LTO-7
    1. By Value
  5. LTO-8
    1. By Value
  6. LTO-9
    1. By Value
  7. DDS-1
    1. By Value
  8. DDS-2
    1. By Value
  9. DDS-3
    1. By Value
  10. DDS-4
    1. By Value
  11. DLT IV
    1. By Value
4. By Capacity
  1. Introduction
    1. Capacity By Value
  2. 1 TB
    1. By Value
  3. 1 TB To 200 TB
    1. By Value
  4. 201 TB To 999 TB
    1. By Value
  5. 1 PB To 100 PB
    1. By Value
  6. More Than 100 PB
    1. By Value
5. By Use Case
  1. Introduction
    1. Use Case By Value
  2. Archiving
    1. By Value
  3. Backup
    1. By Value
6. By End-User
  1. Introduction
    1. End-User By Value
  2. Cloud Providers
    1. By Value
  3. Data Center
    1. By Value
  4. Enterprises
    1. By Value
7. By Industrial Vertical
  1. Introduction
    1. Industrial Vertical By Value
  2. IT & Telecom
    1. By Value
  3. BFSI
    1. By Value
  4. Media & Entertainment
    1. By Value
  5. Healthcare
    1. By Value
  6. Oil & Gas
    1. By Value
  7. Government & Defense
    1. By Value
8. Brazil
9. Mexico
10. Argentina
11. Chile
12. Colombia
13. Rest Of LATAM
Competitive Assessment
1. Adoption Matrix
2. Tape Storage Market Share By Manufacturers
3. Tape Storage Market Ranking By Revenue For Manufacturers
4. Average Price By Manufacturers
5. Vendor Footprint Analysis
Market Players Assessment
1. Dell Technologies Inc.
  1. Overview
  2. Business Information
  3. Revenue
  4. ASP
  5. Gross Margin
  6. Swot Analysis
  7. Recent Developmments
2. International Business Machines Corporation
3. Hewlett Packard Enterprise Development LP
4. Quantum Corporation
5. Lenovo
6. Oracle Corporation
7. QStar Technologies, Inc.
8. Spectra Logic Corporation
9. QUALSTAR CORP.
10. Overland Tandberg
Research Methodology
1. Research Data
  1. Secondary Data
    1. Major Secondary Sources
    2. Key Data From Secondary Sources
  2. Primary Data
    1. Key Data From Primary Sources
    2. Breakdown Of Primaries
  3. Secondary And Primary Research
    1. Key Industry Insights
2. Market Size Estimation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Market Projection
3. Research Assumptions
  1. Assumptions
4. Limitations
5. Risk Assessment
APPENDIX
1. Discussion Guide
2. Customization Options
3. Related Reports
DISCLAIMER

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Recent Deveoplment

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