As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The North America market holds the largest share in the global market for tape storage attributed to the presence of large enterprises, as well as prominent production companies. However, it is estimated that the Asia Pacific is likely to witness robust growth with the highest CAGR over the forecast period, owing to emerging market players and consumer demand. With daily worldwide data production expected to reach hundreds of zettabytes by the end of the decade, the global demand for the high-capacity segment of a storage device is estimated to aid the market growth.
By use case, the market is expecting a boom in the archiving segment, as well as the backup segment from a wide range of consumers, spanning from large and medium enterprises to individual consumers of digital data. Among the industry verticals utilising tape storage, IT and telecom is projected to dominate the market with the highest share, followed by the government and defence sector. Another industry that finds major applications of tape storage is the media and entertainment industry, where the demand has declined due to the digitisation of content, owing to the pandemic situation, worldwide. Piracy and theft of copyrighted property are some of the factors that keep the demand for tape storage running in this industry. Thus, the demand is expected to gradually rise with a healthy recovery factor.
In December 2020, IBM (NYSE: IBM) announced an innovative milestone achieved by the collaboration of IBM researchers and FUJIFILM in the field of tape storage by demonstrating how to store more data on a tape cartridge that can fit in the palm of a hand. This development is expected to pave the way for a great comeback of the tape storage industry and further market expansion.
Market Analysis by Capacity, Component, Technology, Use Case, End-Use, Industry Vertical, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global tape storage market are DELL Technologies Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation (IBM), Lenovo, and Oracle Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.