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Tape Storage Market Anticipated to Progress at a CAGR of 8.2% During the Forecast Period 2023 to 2033

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Tape Storage Market

Tape Storage Market

The Tape Storage Market is expected to generate sales of US$ 12,751.4 Million by the end of 2033, up from an estimated demand of US$ 5,422.5 Million in 2022. By 2023, the tape storage market is expected to reach US$ 5,780.4 million, and from 2023 to 2033, it is projected to grow at a CAGR of 8.2%.

A common choice for long-term data storage, particularly for huge volumes of data that need to be stored, is tape storage, a technique for storing data that uses magnetic tape as the storage medium. 12.5% of the global storage systems market is made up of sellotape storage.

The Tape Storage Market refers to the market for data storage devices that use magnetic tape to store digital information. Tape storage is a long-standing technology that has been used for decades to archive and store large amounts of data in a secure and cost-effective way.The tape storage market has experienced some decline in recent years due to the increasing popularity of disk-based storage solutions, but it remains an important market, particularly for long-term data retention and backup.

Some of the key factors driving the growth of the tape storage market include the increasing demand for secure and reliable data storage solutions, the growing need for long-term data retention and archiving, and the rising adoption of tape storage in cloud-based data centers.

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Competitive Landscape

Companies invest in research and development to create new and improved tape storage technologies. Companies may offer a wide range of tape storage products to cater to different applications and industries. Companies may focus on building strong brand recognition and promoting their products through various marketing channels. Companies may strive to reduce costs and increase efficiency in order to offer competitively priced products.

  • In September 2021, The LTO data cartridge was launched by Fujifilm called ultrium 9, which increases the capacity and speed for the next generation of secure data storage in tape. This is quicker, higher-capacity tape storage media is a significant step towards its lower prices, energy use, and CO2 emissions while maximising the inherent security advantages of tape storage.
  • In September 2021, Hewlett Packard Enterprise (HPE) acquired Zerto, this acquisition will accelerate innovation and expand available services to support customers in managing and safeguarding their data from the edge to the cloud.

Key Players:

  • Dell Inc.
  • Fujifilm Holding Corp
  • Hewlett Packard Enterprise Development LP
  • IBM Corporation
  • Lenovo
  • Oracle
  • Overland Storage
  • Qualstar Corporation
  • Quantum Corporation
  • Seagate Technology PLC
  • Sony Corporation

Key Segments of Tape Storage Market Research

By Technology:

  • LTO-1 to LTO-5
  • LTO-6
  • LTO-7
  • LTO-8
  • DDS-1
  • DDS-2
  • DDS-3
  • DDS-4
  • DLT IV
  • SDLT

By Industry:

  • IT and Telecommunication
  • Banking, Financial Services and Insurance
  • Media and Entertainment
  • Research and Academia
  • Healthcare
  • Oil and Gas
  • Government and Defense
  • Others

By End User:

  • Cloud Providers
  • Data Centers
  • Enterprises
    • Small & Medium Enterprises
    • Large Enterprises
  • Others

By Component:

  • Tape Cartridges
  • Tape Vault

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research

Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.

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