DUBLIN--(BUSINESS WIRE)--The "Tape Storage Market by Component, Technology, Capacity, Use Case, End Use and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Tape storage is a system which uses magnetic tape as a recording media for the purpose of data storage.
Due to rapidly growing data volumes worldwide, tape storage has become the most suitable solution for data storage demanding larger capacity. It is used for backup in case of system failure as well as for archiving data for long-term storage. A tape storage system is generally comprises of magnetic tape media (e.g. LTO), tape automation, and tape drives, while software controls the writing and reading of data. It offers several benefits such as Long-term Storage, the higher capacity, low running cost, and high security & safety.
Factors such as extensive rise in data volumes and growing adoption of tape storage by large enterprises primarily drives growth of the market. In addition, a rise in threats of ransomware attacks on the organization networks fuels the market growth. Also, growth in industrialization fuels the market. However, requirement of high initial investments for tape store is anticipate to restrain the market growth. On the contrary, the emergence of higher storage capacity in tape storage is anticipated to provide lucrative opportunities for the market growth. In addition, a rise in demand for data storage and security due to emergence of advanced technologies and applications is expected to be opportunistic for growth of the tape storage market during the forecast period.
The global tape storage market is segmented on the basis of component, technology, capacity, use case, end use, industry vertical, and region. On the basis of component, the market is bifurcated into tape cartridges and tape vault. By technology, the market is classified 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. On the basis of capacity, it is divided 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. By use case, the market is classified archiving and backup. On the basis of end use, the market is bifurcated into cloud providers, data center, and enterprises. On the basis of industry vertical, it is divided into IT & telecom, BFSI, media & entertainment, healthcare, oil & gas, and government & defense.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Market Dynamics
Drivers
- Extensive rise in data volumes
- Growth in the adoption of tape storage by large enterprises
- Rise in threats of ransomware attacks on organizational networks
- Growth in industrialization
Restraint
- High initial investments
Opportunities
- Emergence of higher storage capacity in tape storage
- Rise in demand for data storage and security
Key Players
- Dell Technologies Inc.
- Hewlett Packard Enterprise
- International Business Machines Corporation
- Lenovo
- Oracle Corporation
- Overland Tandberg
- QStar Technologies, Inc.
- QUALSTAR CORP.
- Quantum Corporation
- Spectra Logic Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cpkkzb
