Global Ai Powered Storage Market Share Analysis 2024, Forecast To 2033

8 Mar, 2024

The ai-powered storage market size has grown exponentially in recent years. It will grow from $25.99 billion in 2023 to $32.52 billion in 2024 at a compound annual growth rate (CAGR) of 25.1%. The growth in the historic period can be attributed to rise of cloud computing, increasing complexity of data, data security concerns, demand for real-time analytics, growing iot ecosystem. The ai-powered storage market size is expected to see exponential growth in the next few years. It will grow to $80.36 billion in 2028 at a compound annual growth rate (CAGR) of 25.4%. The growth in the forecast period can be attributed to data-driven decision-making, increasing data privacy regulations, autonomous storage management, quantum computing impact, continuous learning storage systems. Major trends in the forecast period include technological advancements in neural networks, ai in data lifecycle management, ai for predictive storage maintenance, ai-optimized storage hardware, ai-powered disaster recovery, green ai storage solutions.

Global AI Powered Storage Market Key Driver

Growing numbers of data centers, with projections indicating an expansion of commercial data center IT load in Korea by 700 megawatts between 2021 and 2023 according to the Korea Data Center Council (KDCC), are driving the growth of the AI-powered storage market. AI-powered storage systems leverage machine learning algorithms and predictive analytics to analyze vast amounts of real-time data in data centers, optimizing resource allocation and workload management.

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Global AI Powered Storage Market Segments

The ai-powered storage market covered in this report is segmented –
1) Offering:Software, Hardware
2) Storage System:Direct-attached Storage, Network-attached Storage, Storage Area Network
3) Storage Medium:Hard Disk Drive (HDD), Solid State Drive (SSD)
4) Storage Architecture:File and Object-Based Storage, Block Storage
5) End-User:Enterprises, Government Bodies, Cloud Service Providers, Telecom Companies, Other End-users
By Geography: The countries covered in the ai-powered storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. North America was the dominant region in the AI-powered storage market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai-powered storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major AI Powered Storage Industry Players

Google LLC; Samsung Electronics Co. Ltd.; Microsoft Corporation; Dell Technologies Inc.; Hitachi Ltd.; Lenovo Group Limited; Intel Corporation; International Business Machines Corporation; Cisco Systems Inc.; Fujitsu Limited; Micron Technology Inc.; Hewlett Packard Enterprise Company (HPE); Nvidia Corporation; Toshiba Corporation; Pure Storage Inc.; Veritas Technologies LLC; Cohesity Inc.; Infinidat; Tintri Inc.; CTERA Networks Ltd.; Zadara Inc.; Pavilion Data Systems Inc.; MinIO Inc.; DriveScale Inc.; Caringo Inc.

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AI Powered Storage Market Overview

AI-powered storage refers to storage systems that use artificial intelligence techniques to improve storage infrastructure efficiency, performance, and management. These systems use AI algorithms capabilities to intelligently analyze digital data to improve overall store operations and enable businesses to analyze data rapidly and intelligently, offering insights instantly.