Industry Background:
Magnetic tape storage is a system, which allows the storage of digital data on a magnetic tape. It is based on one of the oldest concepts of digital information system. However, tape storage technology has been displaced as a prime back-up storage medium, it still remains well suited for the purpose of archiving digital data owing to its low cost, long term durability, and high data storage capacity. Appropriate cartridge loading and robotic selection can add latency in case the tape storage technology is a part of a library. Based on the component, the market has been segmented into tape cartridges and tape vault.This growth is primarily driven by Increasing Threats of Ransomware Attacks on Organizations Networks, The Rapidly Growing Data Volume Has Created the Need for Tape Storage, The Robust Reliability of Tape Storage and The Surging Need for economical cold data storage.
Globally, a noticeable market trend is evident The Growing Role of Tape in the Cloud
. The Data Storage and Management sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Dell Inc. (United States), Fujifilm Holdings Corporation (Japan), Hewlett Packard Enterprise Development LP (United States), IBM Corporation (United States), Lenovo (Hong Kong), Oracle Corp. (United States), Overland Storage (United States), Qualstar Corporation (United States), Quantum Corporation (United States) and Seagate Technology PLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 19 Sept. 2018, DataSpan, a national technology solutions provider has announced a partnership with International Business Machine (IBM), a global technology company that provides hardware, software, cloud-based services as well as cognitive computing.
On 2 Aug 2017, Sony Corporation has announced that it has developed, in collaboration with IBM Research, located in Zurich, Switzerland, a magnetic tape storage technology with the industry's highest*1 recording areal density for tape storage media, at 201 Gb/in2 (gigabits per square inch).
Market Drivers
- Increasing Threats of Ransomware Attacks on Organizations Networks
- The Rapidly Growing Data Volume Has Created the Need for Tape Storage
- The Robust Reliability of Tape Storage
- The Surging Need for economical cold data storage
Market Trend
- The Growing Role of Tape in the Cloud
- Shipped Capacity Has Been Continuously Increasing
Opportunities
Continued Investment in New Tape Technologies and The Rapidly Growing Demand from Developing Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Tape Storage Study Sheds Light on
The Tape Storage Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Tape Storage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Tape Storage industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.