Sony has created a new storage tape capable of keeping up to 185 terabytes (TB) of data.

The tape is able to store 74 times the amount of data that can be stored in traditional tapes, and has a capacity equal to that of 3,700 Blu-rays, according to the Daily Mail.

The Japanese firm's new tape is designed only for organizations that need to store huge amounts of data.

The tape can hold 148 gigabits (Gb) per square inch, which beats a record set in 2010 more than five times over, BBC News reported. Analysts predict that global data storage will equal 40 trillion gigabytes, close to 5,200 gigabytes for each person, by 2020.

While it is cheaper and more efficient to use tape to store data than hard disk drives, it takes longer to retrieve data from tape. Data must be accessed in the order in which it was written, and the tape must be moved to the right position for data to be accessed.

Sony's new tape includes a soft magnetic underlayer with a smooth surface created using a technique called sputter deposition, in which argon ions are shot onto polymer film. This process creates layers of very fine crystal particles, about 5 micrometers thick, in a consistent pattern, the Daily Mail reported.

Traditionally, sputter deposition changes the crystal's shape and makes the underlayer feel rough, which restricts the amount of data that can be stored. But after improving the technique and creating a soft, smooth magnetic layer, Sony is now able to shrink the crystals and maintain their shape.

Sony made a statement about the importance of a new method of storing data, BBC News reported.

"The rapid recovery of data systems such as databases and data servers following natural disasters, as well as secure management of information has become even more important, and companies around the world are proceeding to build new data systems," the company said. "In addition, the expansion of cloud services and the creation of new markets to utilize big data have led to a growing need for a data storage media which can store large amounts of information."

Sony said it will keep preparing the storage tape for release, according to the Daily Mail.

The company also said it will continue to improve the technology, "with the aim of increasing recording densities even further."