Several of my clients are tech firms that do "digital transformation." I have to create a lot of case studies for them, and a common business problem for their customers is "We have all of our data archived on tape, so retrieving it and using it is a slow process." Just for example, one I did last year was for a company that amasses and sells data on natural gas deposits. The gas companies pay them to help figure out the most profitable places to drill for oil. Obviously the service was pretty slow, using tape. The new system has everything in the cloud.
So, yeah, the trend is to move everything to instant access, duh. But not every company can afford that or has the knowledge on how to do it, or where to even start, especially considering how much data they have, how it needs to be processed and sorted, etc. Now just imagine the medium sized businesses that can't afford to hire a big tech firm to do this stuff for them. And that's not to even mention the price of cloud storage, when you can buy a 12TB tape for $50.