AI-Powered Storage Market Research Report - Global Forecast till 2027

Global AI-Powered Storage Market Research Report: By Offerings (Hardware [SSD, HDD, CPU, and GPU] and Software), Storage System (Direct-Attached Storage Systems, Network-Attached Storage Systems, and Storage Area Network), Storage Architecture (File Storage, Object Storage, and Block Storage), Storage Medium (Hard Disk Drive and Solid-State Drive), End-Use (BFSI, Healthcare, Media & Entertainment, Retail, Manufacturing, Telecommunication, and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/SEM/7231-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of report has been updated from 2019-2025 to 2020-2027. Cordially fill the sample form for updated data.

Market Synopsis


Global AI-Powered Storage Market is expected to grow from USD 10.71 Billion in 2018 to USD 25.05 Billion by 2025, at a CAGR of 17.56%, during the forecast period.


AI-powered storage is registering a high demand across the globe owing to factors such as rise in data generated daily, growing adoption of data analytics by various industries to enhance the decision-making capabilities, and increasing compliances and government regulations with regards to data generated. Furthermore, a large number of enterprises have started utilizing cloud-based services to store their data using virtual servers that has further boosted the demand for AI-powered storage systems.


The Global AI-Powered Storage Market has been segmented based on offerings, Storage System, Storage Architecture, Storage Medium, End Use, and Region.


By offerings, the market has been segmented into hardware and software. The hardware segment has been further divided into SSD, HDD, CPU, and GPU. The hardware segment dominated the market in 2018. It is also expected to register the highest CAGR during the forecast period.


By storage system, the market has been segmented into direct-attached storage systems, network-attached storage systems, and storage area network. The storage area network segment is expected to account for the largest market share. However, the network-attached storage systems segment is expected to register the highest CAGR during the forecast period. In 2019, Synology—a Taiwanese provider of network-attached storage (NAS) systems—broadened its geographic presence with the launch of four new NAS products.


By storage architecture, the market has been segmented into file storage, object storage, and block storage. The file storage segment is expected to account for the largest market share. However, the block storage segment is expected to register the highest CAGR during the forecast period.


By Storage Medium, the market has been segmented into hard disk drive and solid-state drive. The hard disk drive segment is expected to account for the largest market share. In 2018, western digital launched a new range of hard drive—Purple—for upcoming Digital Video Recorder and Network Video Recorder systems that feature Artificial Intelligence (AI) capabilities. The affordability of these storage devices is the key reason for its wide adoption. The solid-state drive segment has been further bifurcated into all-flash array and hybrid flash arrays.


By End Use, the market has been segmented into BFSI, healthcare, media & entertainment, retail, manufacturing, telecommunication, and others. The BFSI segment is projected to hold the largest market share. However, the telecommunication segment is expected to register a significant CAGR during the forecast period. Telecom communication companies are widely adopting AI technology to enhance customer experience and improve network reliability.


Key Players


The Key Players profiled in the Global AI-Powered Storage Market research report are Dell Technologies (US), Advanced Micro Devices (US), CISCO (US), HPE Company (US), IBM (US), Toshiba (Japan), Intel Corporation (US), Pure Storage (US), Hitachi (Japan), NVIDIA Corporation (US), Lenovo (China), Samsung Electronics (South Korea), Micron Technology (US), Western Digital (US), and NetApp (US).


Global AI-Powered Storage Market  AI-Powered Storage Market


Source: MRFR Analysis


Segmentation


Based on offerings, the market has been segmented into hardware [SSD, HDD, CPU, and GPU] and software


Based on storage system, the market has been segmented into direct-attached storage systems, network-attached storage systems, and storage area network


Based on storage architecture, the market has been segmented into file storage, object storage, and block storage


Based on storage medium, the market has been segmented into hard disk drive and solid-state drive


Based on end use, the market has been segmented into BFSI, healthcare, media & entertainment, retail, manufacturing, telecommunication, and others.


By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


The global market for AI-powered storage is estimated to grow at a significant rate during the forecast period from 2019 to 2025. The geographical analysis of the AI-powered storage market has been done for North America, Europe, Asia-Pacific, and the rest of the world. 


North America is expected to hold the largest share in the AI-powered storage market from 2019 to 2025. The high concentration of data storage market players, easy availability of proficient technical expertise, and growing penetration of AI in manufacturing, banking, telecom, and healthcare industries are the key drivers of the market.


Asia-Pacific is expected to register the highest CAGR during the forecast period. Adoption of AI technology by small and medium enterprises in the region, rise in demand for cloud-based services, and adoption of robotics in manufacturing industries are the key drivers for the rapid growth in the AI-powered storage market.  


Competitive Analysis


The Key Players have adopted product launches and partnerships as a part of their growth strategy to further increase their share in the global AI-powered storage market. For instance, in 2018, Hitachi Vantara introduced a new storage system—Hitachi Virtual Storage Platform (VSP) systems—that integrates cross-platform AI-powered analytics and IT automation software.


The acquisition is another key growth strategy adopted by manufacturers to enhance their global market presence. For instance, in April 2019, Pure Storage entered into a definitive agreement to acquire Compuverde—a file software solution developing firm. The acquisition is expected to expand Pure Storage company’s file-based storage offerings.


Key Players


The Prominent Players in the Global AI-Powered Storage Market are Dell Technologies (US), Advanced Micro Devices (US), CISCO (US), HPE Company (US), IBM (US), Toshiba (Japan), Intel Corporation (US), Pure Storage (US), Hitachi (Japan), NVIDIA Corporation (US), Lenovo (China), Samsung Electronics (South Korea), Micron Technology (US), Western Digital (US), and NetApp (US), Datadirect Network (US), Seagate Technology (US), Flextronics International (Singapore), Fujitsu (Japan), and Tintri, Inc. (US).


Intended Audience



  • System integrators

  • OEMs/ODMs

  • Electronic component manufacturers

  • Resellers and distributors

  • Consultancy and advisory firms

  • Consulting firms

  • Research institutes and organizations

  • Technology standards organizations



Frequently Asked Questions (FAQ) :


CAGR of 17.56% is the growth rate at which the Global AI-Powered Storage Market will be expanding in the forecast period.

Global AI-Powered Storage Market gained a valuation of USD 10.71 Billion in 2018.

The Global AI-Powered Storage Market has been segmented by offerings, Storage System, Storage Architecture, Storage Medium, and End-Use.

The factors taken into concern for the market’s evolution are increasing adoption of data analytics by several industries to enhance the decision-making capabilities as well as surging compliances and government regulations concerned with data generated.

Dell Technologies (US), Advanced Micro Devices (US), CISCO (US) are the key companies who are consistently investing in the market share for longer years.