An increasing number of organizations have started procuring efficient magnetic tape storage technology due to persistent threats of ransomware attacks on their networks.
August 20, 2019 10:09 ET | Source: Persistence Market Research Private Limited
New York, Aug. 20, 2019 (GLOBE NEWSWIRE) — Persistence Market Research (PMR) recently published a market study titled “Tape Storage Market – Global Industry Analysis 2013-2017 and Forecast 2018-2026.” Tape storage technology finds common applications in small, medium, and large enterprises for the purpose of data back-up and data archiving. Tape storage equipment facilitates the back-up and archival of enterprise-grade digital data on a high-capacity magnetic tape. The tape storage technology is based on the traditional concept of digital information storage. The technology is well-suited for enterprise-grade digital data archival owing to features such as high data storage capacity, low procurement expenditure & power consumption, and long-term durability. In the tape storage market, several established vendors are offering specialized tape storage for different end-user verticals, such as government & defense, oil & gas, healthcare, research & academia, media & entertainment, BFSI, and IT & telecommunication.
Request for Sample Copy of Tape Storage Market Report: https://www.persistencemarketresearch.com/samples/14725
The global tape storage market was valued at US$ 5,799.4 Mn in 2017. By the end of the forecast year 2026, the global tape storage market is expected to reach a market value of US$ 6,527.2 Mn. In the global tape storage market report, Persistence Market Research has segregated the global tape storage market by technology, by end user, by industry, by component, and by region. By technology, the global tape storage market can be segregated into SDLT, DLT IV, DDS-1, DDS-2, DDS-3, DDS-4, LTO-1 to LTO-5, LTO-6, LTO-7, and LTO-8. These tape storage technologies prevent the information stored on the tapes from falling prey to cyber-attacks as they are not connected to the network infrastructure of the enterprise. Tape cartridge and tape drive roadmaps are expected to continue the trend of supporting capacity doubling upgrades in a 24-month to 30-month cycle for 2+ generations in the tape storage market. Owing to these factors, LTO-7 and LTO-8 technology formats of tape storage are estimated to record growth rates of 2.0% and 7.9% respectively during the forecast period.
Based on end users, the global tape storage market is sub-segmented into enterprises, data centers, cloud providers, among other tape storage end users. The enterprise sub-segment is further classified into large enterprises and small & medium enterprises. As compared to the adoption rate expected from SMEs, large enterprises are estimated to record a larger market share by the end of the forecast period. The continuous rise in enterprise-grade digital data volumes and high digital data storage capacities offered by tape storage technology are estimated to be the primary drivers of the global tape storage market.
Geographically, the tape storage market in North America is estimated to continue holding the largest market share of the global tape storage market by the end of the forecast year 2026 due to the high adoption of next-generation tape storage technologies in the region, especially in the U.S. The tape storage market in the Southeast Asia and Others of Asia Pacific region is expected to hold the second largest share of the tape storage market and is estimated to be the target market for established market players.
Request customization on above report: https://www.persistencemarketresearch.com/request-customization/14725
According to PMR analysis, various motion picture production organizations are recording their footage media on tape to minimize expensive failures with flash drives as well as hard disks. Scientific research organizations leverage the back-up speeds and capacity of tape storage equipment to store the mass-produced data generated in a few microseconds. The oil and gas industry has been using the tape storage technology for several years for the storage and transportation of valuable data. Tape storage is an appropriate choice as it makes the transportation of data possible as processes such as oil exploration occur “out on the field” outside the data center. Some of the key market participants in the global tape storage market report are Spectra Logic Corporation, Sony Corporation, Seagate Technology PLC, Quantum Corporation, Qualstar Corporation, Overland Storage, Oracle, Lenovo, IBM Corporation, Hewlett Packard Enterprise Development LP, Fujifilm Holdings Corporation, and Dell Inc.
Browse IT and Telecommunication Market Research Reports
Popular Research Reports by PMR:
- Cesium Beam Atomic Clock Market: https://www.persistencemarketresearch.com/market-research/cesium-beam-atomic-clock-market.asp
- Cloud Enterprise Management Software Market: https://www.persistencemarketresearch.com/market-research/cloud-enterprise-management-software-market.asp
- Compact Camera Module Market: https://www.persistencemarketresearch.com/market-research/compact-camera-module-market.asp
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
USA – Canada Toll-Free: 800-961-0353
Web Site: https://www.persistencemarketresearch.com