Magnetic tape storage is a system that enables the storage of digital data on a magnetic tape. It is based on one of the oldest concepts of digital information storage. Though tape storage technology has been displaced as a primary back-up storage medium, it still remains well-suited for the purpose of archiving digital data owing to its long-term durability, low cost and high data storage capacity. Robotic selection and appropriate cartridge loading can add latency in case the tape storage technology is a part of a library.
In case of tape storage technology, there is no online copy of the data as all the information is vaulted for the long-term. This aspect has its pros and cons. The “air gap” enables the tape storage technology to protect an enterprise’s data from cyber-attacks by eliminating the option of network connectivity, however, the quick retrieval of data is not possible.
In this market study, PMR has segmented the global tape storage market by technology, end user, industry, and component on a regional scale.
With respect to the tape storage technology, the global tape storage market is segregated as LTO-1 to LTO-5, LTO-6, LTO-7, LTO-8, DDS-1, DDS-2, DDS-3, DDS-4, DLT IV, and SDLT. The LTO-8 technology of tape storage is estimated to hold the largest share of the global tape storage market by the end of the forecast period. High demand for high-capacity tape storage equipment from small, medium, and large enterprises is expected to propel the growth of the LTO-8 tape storage technology during the forecast year.
Ever-rising data volumes are expected to drive the tape storage market
On the basis of end-user segments, the global tape storage market is sub-segmented into cloud providers, data centres, and enterprises, among other end users. The enterprise end-users segment is further segregated into SMEs and large enterprises. Small and medium-sized enterprises, along with large enterprises, are expected to hold the largest share of the global tape storage market during the forecast period. Under the enterprise sub-segment, large enterprises are estimated to record the highest market share by the end of the forecast year 2026. This can be attributed to the fact that large enterprises find magnetic tape storage the best option for long-term high-capacity data back-up and archiving, following the ever-increasing volumes of enterprise-grade data.
Request for Sample Report : https://www.persistencemarketresearch.com/samples/14725
An increasing number of organizations have started procuring efficient magnetic tape storage technology due to persistent threats of ransomware attacks on their networks
With respect to the industry, the global tape storage market is segmented into IT and telecommunication, BFSI, media & entertainment, research & academia, healthcare, oil & gas, and government & defence, among other industries. Tape storage technologies find most common applications in the information and telecom industry. Thus, the IT and telecommunication industry is expected to hold the largest market share of the global tape storage market by the end of the forecast period. The offline nature of tape storage technology is a major selling point and is expected to motivate industries to accelerate the procurement of tape storage equipment.
The tape storage market is expected to continue showcasing high potential in the North America region during the forecast period
With regards to geography, the North America tape storage market is estimated to hold the largest market share of the global tape storage market by the end of 2018. By the end of the forecast year 2026, North America is expected to continue to lead the global tape storage market. The large presence of tape storage technology developers is driving the tape storage market in North America. Companies have turned to a technology that was in high demand in the 1950s to tackle persistent cyber threats. In addition, the developers of tape storage technology are undertaking research & development initiatives to fulfil the high demand for enhanced storage capacity in tape storage devices due to heavy data generation. The SEA and Others of APAC region is expected to hold the second largest market share of the global tape storage market. Advancements in tape storage, in terms of cartridge capacity and drive roadmaps, is supported by continued investments in the technology. SEA and Others of APAC is followed by the European tape storage market. The enterprise-grade tape storage development strategy in Europe emphasizes on enhancing reliability, media-up conversion, and capacity.
Request for methodology : https://www.persistencemarketresearch.com/methodology/14725
As per PMR analysis, tape storage technology has become an ideal solution for several next-generation applications that are swiftly outgrowing their traditional storage infrastructure. These applications include addressing the data storage and security needs for surveillance, Internet of Things, hyper-scale computing, entertainment, cloud storage services, and Big Data. These applications of tape storage technology are expected to generate enormous demand in the market. In 2018, Veeam entered into a partnership with Quantum and launched a converged tape appliance with integrated data protection software developed by Veeam and Quantum’s back-up technology. In 2017, Sony and IBM innovated an upgrade in their tape storage technology for the highest recorded areal density, and this resulted in the creation of approximately 330 terabytes of uncompressed capacity per tape cartridge. Some of the leading cloud-based data storage service providers, which include Google Cloud Platform, Microsoft Azure, and Amazon Web Services, have integrated LTFS-attached tape storage libraries into their storage infrastructure to eliminate the threat of the loss of client/user data. Some key players profiled in the global tape storage market report are Dell Inc.; Fujifilm Holdings Corporation; Hewlett Packard Enterprise Development LP; IBM Corporation; Lenovo; Oracle; Overland Storage; Qualstar Corporation; Quantum Corporation; Seagate Technology PLC; Sony Corporation; and Spectra Logic Corporation.