Magnetic Tape Storage Hits 152.9 Exabyte Record in 2023

Despite perceptions of obsolescence, LTO tape technology sees growth driven by AI and enterprise data needs.

LTO magnetic tape shipments increased by 3.14% over 2022, reaching 152.9 exabytes in 2023.
Hyperscalers and enterprises are key drivers of this growth, citing rapid data generation and infrastructure needs.
AI-related storage demands are significantly contributing to the resurgence of tape as a viable storage medium.
LTO-9 tapes offer up to 45TB of compressed capacity, with enhanced features like hardware encryption and WORM operations.
Tape storage remains cost-effective for archiving large volumes of unstructured data, despite slower access times.