AI-Powered Storage Market Research Report Information 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

AI-Powered Storage Market Size and Overview

Globally, the size of AI-Powered Storage Market is expected to grow from USD 10.71 Billion in 2018 to USD 25.05 Billion by 2027, at a CAGR of 17.56%, during the forecast period driven by the increasing number of connected devices and the increasing usage of cloud-based services and applications.AI-Powered Storage Market Share is a smart storage system that employs artificial intelligence to continuously learn and adapt to its hybrid cloud environment to better manage and serve data. It is available as a virtual appliance, on-premises hardware, or as a cloud service. With AI-powered storage, you can optimize data throughout its life cycle and move it to where it's needed and the AI-Powered Storage Market Trends are increasing. It also protects data and encrypts it, reducing the risk of a security breach. As a result, they're used in industries like telecommunications, banking and financial services, government, entertainment, and cloud service providers. The global AI-powered storage industry is growing rapidly and is likely to continue to do so AI-Powered Storage Market Analysis.

COVID 19 Analysis

COVID-19 has had a huge impact on the global economy as well as all industries including AI-Powered Storage Market. This is mostly due to global supply chain interruptions. A dramatic reduction in product demand has harmed the economies of the world. Production has been impeded across industries as a result of the outbreak, which has resulted in a shortage of raw resources. Google Cloud AI cooperated with the Harvard Global Health Institute during the COVID-19 epidemic. The goal of the collaboration is to create a dashboard for COVID-19 public projections. The dashboard is planned to deliver hospitalization and death rate forecasts for the next 13 days in all 50 states. And as a result of it, the market is expected to expand and grow.

Market Dynamics

Drivers

Due to factors such as the increase in data generated daily, the growing adoption of data analytics by various industries to improve decision-making capabilities, and increasing compliances and government regulations concerning data generated, AI-Powered Storage Market Trends is registering a high demand across the globe. Furthermore, a growing number of businesses are turning to cloud-based services to store their data on virtual servers, driving up demand for AI-powered storage systems during the AI-Powered Storage Market Analysis. Massive increases in data volumes, the need for global business infrastructure to renew its storage architecture, the growing acceptance of cloud-based services, and the growing requirement for AI in HPC data centers have all contributed to a tremendous demand for AI-powered storage solutions. The increasing number of connected devices and the increasing usage of cloud-based services and applications are the primary factors driving AI-Powered Storage Market Size and AI-Powered Storage Market Share. Furthermore, it enables flexible data flow between corporate and IT infrastructure, allowing businesses to operate with large volumes of unstructured data. Furthermore, because these systems are highly versatile and scalable, they are widely used in end-user industries such as banking, healthcare, entertainment, and others.

Restraints

Excessive data could cause system slowdowns across the industry, impeding data transfer. Fluctuating market trends in mature end-use sectors are expected to limit the AI-Powered Storage Market. Concerns about the devices' experience and understanding are holding back the AI-Powered Storage Market. Furthermore, as the industrial and economic development of emerging economies accelerates, the AI-Powered Storage Market will have more chances.

Technology Analysis

Hitachi Vantara, a division of Hitachi, Ltd., has launched leading industrial AI operations software and new flash storage solutions. It's the only system in the business that guarantees 100 percent data availability and includes cross-platform AI-powered analytics and IT automation applications. Customers gained agility, better productivity, and lower operational expenses as a result of this AI-powered storage. As a result, it laid the groundwork for modern-day data centers. The BFSI industry is seeing an increase in the use of AI-powered storage due to the requirement for faster turnaround times, personalized customer experiences, error-free back-end processes that run without human interaction, as well as compliance and security. As of today, the software makes loan decisions based on accessible data on AI-powered storage, which has additional information about the borrower in addition to the background check and credit score.

Segment Overview

The AI-Powered Storage Market has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period and help in proving AI-Powered Storage Market Analysis true. The AI-Powered Storage Market is segmented as follows:

Based on the Offerings

• Hardware [SSD, HDD, CPU, and GPU]


• Software

Based on the Storage System

• Direct-attached storage systems


• Network-attached storage systems


• Storage area network

Based on the Storage Architecture

• File storage


• Object storage


• Block storage

Based on the Storage Medium

• Hard disk drive


• Solid-state drive

Based on the End-Use

• BFSI


• Healthcare


• Media & entertainment


• Retail


• Manufacturing


• Telecommunication


• Others

Based on the Region

• North America


• Europe


• Asia-Pacific


• The Rest of the World

Regional Classification

North America is predicted to have the highest share of the AI-powered storage market during the forecast period. The market's main drivers are the high concentration of data storage market participants, the simple availability of skilled technical talent, and the expanding adoption of AI in the manufacturing, banking, telecom, and healthcare industries.

During the forecast period, Asia-Pacific is expected to have the greatest CAGR. The adoption of AI technology by small and medium businesses in the region, as well as the rise in demand for cloud-based services and the use of robotics in industrial industries, are the primary drivers of the AI-powered storage market's rapid expansion.

Competitive Landscape

The AI-Powered Storage Market is fragmented. The adoption of artificial intelligence (AI) in areas such as retail, automotive, and manufacturing is expected to accelerate rapidly. Overall, there is a lot of competition among established competitors. Large firms are expected to make purchases and collaborate with startups that are focused on innovation. To further boost their share of the global AI-powered storage market, the Key Players have used product launches and alliances as part of their growth strategy. Manufacturers use acquisition as another essential growth strategy to expand their global market presence. The following are some of the key players of AI-Powered Storage market developments:

• 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)


• NetApp (US)


• Data direct Network (US)


• Seagate Technology (US)


• Flextronics International (Singapore)


• Fujitsu (Japan)


• Tintri, Inc. (US)

AI-Powered Storage Market Recent Developments

• Hitachi Vantara has unveiled Hitachi Virtual Storage Platform (VSP) solutions, which combine cross-platform AI-powered analytics and IT automation applications.


• Pure Storage has signed a definitive agreement to buy Compuverde, a company that develops file software solutions. Pure Storage's file-based storage capabilities are likely to be expanded as a result of the acquisition.

AI-Powered Storage Market Report Overview

This report provides an analytical depiction of the global AI-Powered Storage market forecast, as well as current trends and future projections, to identify the most promising investment opportunities. The research includes data on major drivers, restraints, and opportunities, as well as a complete analysis of the global, AI-Powered Storage market. To highlight the worldwide AI-Powered Storage market growth scenario, the existing market is statistically studied. The study examines the global AI-powered storage market in-depth, focusing on competitive intensity and how the market will evolve in the future years. The market segment and sub-segments are investigated exhaustively. A full study of the market in North America, Asia-Pacific, Europe, the Middle East, Africa, and Latin America is also included, as well as major nations in each region. The paper discusses technology trends as well as the regulatory landscape. Market share data, financial analysis, product benchmarking, and strategic moves such as joint ventures, product launches, and mergers and acquisitions are all covered in the Competitive Intelligence area. The appeal of the region, as well as its accompanying growth prospects, are also investigated.