AI-Powered Storage Market

Analysts at GMI Research estimates that the AI-Powered Storage Market was worth USD 15.4 billion in 2021, and forecast to touch USD 88.3 billion in 2029, growing at a significant higher CAGR of 24.4% from 2022-2029.

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Key Drivers

The major factors surging the growth of the global AI-powered storage market include the growing adoption of data analytics to improve the decision-making capabilities, rising demand for AI in high-performance computing data centers, the increasing amount of data generated, and growing adoption of cloud-based services by enterprises to store their data using virtual servers. The growth of the AI-powered storage market is also propelled due to the increasing government compliances and regulations regarding data generated. Moreover, immense development in data volumes and rising demand for advanced storage architecture in large-scale enterprise infrastructure are expected to improve the global AI-powered storage market’s growth. On the contrary, increasing concerns related to data privacy in server and cloud-based services, lack of technically skilled professionals in AI hardware, and irregularity of AI algorithms might restrain the market growth.

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Storage System – Segment Analysis

Based on the storage systems, the market is segmented into direct-attached storage systems, network-attached storage systems, and storage area network. The storage area network segment is anticipated to witness a faster CAGR over the forecast period. Storage area network offers several benefits such as centralized storage management, enhanced disaster recovery, rapid data migration, improved storage utilization, data protection, high availability, faster back-ups, better data security, greater scalability, and removal of bandwidth bottlenecks associated with LAN-based server storage. It facilitates the collaboration of storage among data centers and it is also used as a network for data storage devices. All these factors are responsible for the growth in demand for the storage area network segment.

Storage Architecture – Segment Analysis

Based on the storage architecture, the market is segmented into file- and object-based storage and block storage. The block storage segment is projected to grow at a higher CAGR during the forecast period. The block storage segment provides storage of files for special applications such as virtual machine file systems, which is a major factor that is driving the growth of the block storage segment.

End-Use – Segment Analysis

Based on the end-user, the market is segmented into enterprises, government bodies, cloud service providers, and telecom companies. The BFSI industry, which comes in the enterprise segment is expected to grow at a higher CAGR over the forecast period. AI has helped BFSI industry to modernize and optimize processes ranging from financial risk management to credit decision-making and quantitative trading. AI-powered storage provides improved financial, operational efficiency and the use of messenger bots to effect seamless communication between customers and vendors. All these benefits are responsible for the growth of the enterprise segment.

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Regional – Segment Analysis

Based on the region, Asia-Pacific is anticipated to witness a faster CAGR in the global AI-powered storage market over the forecast period. China is the biggest market among all the other APAC countries. This is mainly because enterprises in China are adopting new technologies to sustain in the global market competition. Also, government policies in China are promoting the adoption of AI-powered storage systems. A large amount of digital data is generated as the market for connected devices is increasing. All these factors drive the growth of AI-powered storage market in Asia-Pacific region.

Top Market Players

Various notable players operating in the global AI-powered storage market include Dell Inc., Hewlett Packard Enterprise Development LP, IBM, NVIDIA Corporation, Intel Corporation, Samsung, Micron Technology, Inc., Cisco, Toshiba, and Hitachi, Ltd. among others.

Key Developments: 

• • In 2020, NVIDIA announced a partnership with VMware to deliver both an end to end platform for AI and a new architecture for cloud, data center and edge that uses NVIDIA DPUs (Data Processing Units) to support existing and next generation applications.
  • In 2020, Dell Technologies announced a pair of new products (EMC PowerEdge XE2420 & EMC iDRAC9), data analytics platform, and software for data centers. Dell claimed its remote deployment capability can decrease on-site management requirements by up to 99.1% per server.
  • In 2017, HPE acquired the InfoSight Technology and a year later it expanded InfoSight across its 3PAR storage portfolio and added an AI recommendation engine to the platform.

Segments covered in the Report:

The global AI-powered storage market has been segmented on basis of offering, storage systems, storage architecture, storage medium, end user and regions. Based on offering, the market is segmented into hardware and software. Based on storage system, the market is segmented into direct-attached storage systems, network-attached storage systems, and storage area network. Based on storage architecture, the market is segmented into file- and object-based storage and block storage. Based on storage medium, the market is segmented into hard-disk drive and solid-state drive. Based on end-user, the market is segmented into enterprises, government bodies, cloud service providers, and telecom companies. Based on the regions, the global AI-powered storage market has been segmented into Asia-Pacific, Europe, North America, and RoW.

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Key questions answered in this research report:

• • At what pace is global AI-powered storage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global AI-powered storage market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global AI-powered storage market?
  • Which storage system generated maximum revenues in 2019 and identify the most promising storage system during the forecast period?
  • What are the various end-users of global AI-powered storage market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global AI-Powered Storage Market by Offering

• • Hardware
    • Storage Medium
      • SSD
      • HDD
    • Other Hardware
  • Software

Global AI-Powered Storage Market by Storage System

• • Direct-Attached Storage Systems
  • Network-Attached Storage Systems
  • Storage Area Network

Global AI-Powered Storage Market by Storage Architecture

• • File- and Object-Based Storage
    • File Storage
    • Object Storage
  • Block Storage

Global AI-Powered Storage Market by Storage Medium

• • Hard-Disk Drive
  • Solid-State Drive
    • All-Flash Arrays
    • Hybrid-Flash Arrays

Global AI-Powered Storage Market by End-user

• • Enterprises
    • BFSI
    • Healthcare
    • Media & Entertainment
    • Retail
    • Consumer Goods
    • Manufacturing
    • Others
  • Government Bodies
  • Cloud Service Providers
  • Telecom Companies

Global AI-Powered Storage Market by Region

• • North America AI-Powered Storage Market (Option 1: As a part of the free 25% customization)
    • By Offering
    • By Storage System
    • By Storage Architecture
    • By Storage Medium
    • North America Market by End-user
    • US Market All-Up
    • Canada Market All-Up
  • Europe AI-Powered Storage Market (Option 2: As a part of the free 25% customization)
    • By Offering
    • By Storage System
    • By Storage Architecture
    • By Storage Medium
    • Europe Market by End-user
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific AI-Powered Storage Market (Option 3: As a part of the free 25% customization)
    • By Offering
    • By Storage System
    • By Storage Architecture
    • By Storage Medium
    • Asia-Pacific Market by End-user
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW AI-Powered Storage Market (Option 4: As a part of the free 25% customization)
    • By Offering
    • By Storage System
    • By Storage Architecture
    • By Storage Medium
    • RoW Market by End-user
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global AI-Powered Storage Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Dell Inc.
  • Hewlett Packard Enterprise Development LP
  • IBM
  • NVIDIA Corporation
  • Intel Corporation
  • Samsung
  • Micron Technology, Inc.
  • Cisco
  • Toshiba
  • Hitachi, Ltd.