Despite competition from younger players, tape continues to dominate as a storage medium. The expansion of data and the rise of ransomware are major driving factors.
With a CAGR of 12.6%, the worldwide tape storage market increased from $4.63 billion in 2022 to $5.22 billion in 2023.
In 2021, the largest region was North America. The region with the quickest growth is anticipated to be Asia-Pacific in the upcoming years.
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Since its debut in the late 1990s, LTO technology has advanced significantly. At the time, the 100GB capacity of the first LTO-1 tape was groundbreaking.
There have been subsequent LTO versions. The latest LTO tapes are better versions. They are more reliable, flexible, and have increased shelf life.
Let’s take a look at video creation and editing. Massive storage is required in the process. Cloud has disrupted the storage sector. However, cloud storage has its drawbacks.
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There are issues in data security and privacy, and it may grow expensive to store more data on cloud servers.
LTO tapes provide a secure and affordable backup option for video editing tasks. Contrary to the common perception, LTO tapes are still significant for the industry.
Due to its air-gapped ransomware defense, the usage of tape storage has recently seen a resurgence.
Removability is one of the benefits of tape when used as an archival medium.
There have been other technical disruptors besides the cloud. A best example would be Amazon Glacier and the Deep Glacier.
While providing cost savings and benefits for environmental sustainability, LTO tape technology addresses the challenges due to the exponential growth of unstructured data.