Over the forecast period, 2017-2025, the global market for tape storage is anticipated to incur steady growth in terms of revenues. An ongoing study by Persistence Market Research (PMR) projects on the basis of secondary and primary research conducted over a range of business entities and aspects associated with expansion of the global tape storage market. The report is being developed to create valuable insights on the future of tape storage solutions, enabling companies to generate huge profits & create new revenue-generating opportunities by developing informed strategies. Some of the inferences revealed in the ongoing study are disclosed below.
Global Tape Storage Market Analysis: Key Segmentation: The report is currently being developed to understand the subjective undercurrents encompassing the global tape storage market expansion. Owing to continuous innovation backed by sizeable investments, product development in the global tape storage market continues to take a promising course of action. Long term retention requirements of end-user companies are instrumenting the changes in development of tape storage solutions. As the reliability of tape storage hardware remains a key concern, manufacturers are focusing on integrating advanced data transference technologies and facilitate support systems.
The type of cartridge and vertical are key segments employed in the analysis of tape storage market. Based on the vertical, the global tape storage market is segmented into energy & utilities, transportation, manufacturing sector, BFSI, media & entertainment, retail, IT & telecommunications, healthcare and public sector, among others. Minicartridge, data cartridge and helical scan tape drives are key segments based on the type of cartridge used in production of tape storage devices.
North America & Europe: At Forefront of Global Expansion
On the basis of geographies, the report is analysing the global tape storage market into North America, Latin America, Middle East & Africa, Asia-Pacific, Western Europe and Eastern Europe. Robust IT infrastructure in regions such as North America and Europe are expected to propel their position in the expansion of global tape storage market through 2025. During the forecast period, increasing adoption of IT solution across several industries in the US and Canada are likely to boost the sales of tape storage solutions in the North American region. On the other hand, developing market such as Middle East & Africa and Latin America are likely to showcase sluggish uptake for tape storage solutions, particularly due to lack of awareness over the essentiality of tape storage in IT-enabled work environments.
Tape Storage Market: Developer Insights: Development of tape storage solutions involves the inclusion of multiple provisions from backup to recovery. Since tape storage is widely adopted by end-user companies for recovering data or safeguarding information in the premise of emergency or natural disaster, the companies partaking in the global tape storage market are changing their focus with respect to product development. Fujitsu Corporation, Hewlett Packard Enterprise Company, NetApp, Inc., Tandberg Data, IBM Corporation, Quantum Corporation, Dell Inc., and HP Corporation are among the key players expected to remain active in the expansion of global tape storage market through 2025.
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