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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.
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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.
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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.
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