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Global Tape Storage Market to Witness a Healthy Growth by the end of 2025

Global Tape Storage Market is anticipated to grow with a healthy growth rate of more than triple digits over the forecast period 2018-2025. The Tape Storage Market is continuously growing in the global scenario at a significant pace. 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. An increasing number of end-user industries demanding efficient tape storage and rising concern towards threats of ransomware attacks on their networks are the substantial driving factors of the market during the forecast period.

Moreover, growing industrialization and trade in developing economies is the major factor that likely creating a lucrative opportunity in the near future. Tape storage is more durable but ensures that they are kept in a clean environment is another factor that aiding the growth of the market during the forecast period. However, the high initial investment is one of the major factors that limiting the market growth of Tape Storage during the forecast period.

The regional analysis of Global Tape Storage Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to the presence of high tape storage technologies and higher demand from financial & packaging units in the region. Europe is estimated to grow at a significant growth rate in the global Tape Storage market over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to advancements in tape storage in terms of cartridge capacity & drive roadmaps and rising investments across the region.

The major market players included in this 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
Spectra Logic Corporation

Contact your BackupWorks.com Account Rep and find out if Tape Storage is right for your backup and archiving environment at 866 801 2944

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