We hear year after year that the tape is going to become extinct very soon, and hard drives will take over, but it continues to live, and is likely to remain there for many more years. The first reason for that is simple-price. A basic cost benefit analysis of tape technology against other storage media like HDDs reveals that Tape archival systems cost about a fifth of the price of disks.rnSecond reason is legal-many companies are bound by law to archive their data for a specific period of time. Even today, major banks in India are ordering copious amounts of tapes for archival. They're bound by law for archiving all their records for a specific period of time.
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