Magnetic tape is a type of data storage that uses a thin strip of plastic tape coated with a magnetic material to record data. It is primarily utilized for archival storage, backup, and large-scale data storage solutions due to its cost-effectiveness and high capacity for long-term retention. Magnetic tape systems allow for the storage of vast volumes of data, making it ideal for organizations that require compliant and durable solutions for data preservation. Tape storage is commonly used in industries like finance, entertainment, and healthcare for maintaining large datasets that need to be securely archived.