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

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

1. Executive Summary
2. Research Scope & Segmentation
   1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered
3. 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
4. Market Trends
   1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors
5. 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
6. ESG TRENDS
7. 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
8. 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
9. 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
10. 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
11. 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
12. 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
13. 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
14. 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
15. 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
16. APPENDIX
    1. Discussion Guide
    2. Customization Options
    3. Related Reports
17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/tape-storage-market/toc

Recent Deveoplment

• In 2022, Dell Technologies Inc. introduced the latest software like PowerStore, PowerMax, and PowerFlex to deliver faster insights, better multi-cloud data control, and increased cyber resiliency at no cost to existing customers.
• In 2022, Object Management GroupÒ announced Responsible Computing, a new consortium comprising technology innovators to work towards sustainable development goals. IBM and Dell are the founding members.

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