AI powered storage has revolutionized the industrial technologies. AI powered storage over performs other storage systems in multiple ways. AI powered storage offers a more flexible and agile architecture for data storage. Moreover, AI enhances data security by smart security features that enables in identifying data loss within the data centers. This not only reduces the data loss but also enhances availability and improves turnaround time.
The increase in demand for better storage with enhanced security is one of the significant factors driving the growth of the AI powered storage market. The reduced turnaround time and compliance are other factors elevating the growth of the AI powered storage market. Moreover, AI powered storage is extensively being used for process automation and optimization. Furthermore, increased efficiency and data management are some of the factors anticipated to create new opportunities for the data center networking market.
The AI powered storage market is segmented into component, it is bifurcated into hardware and software. By storage system it is segmented into direct attached storage, network attached storage, and storage area network. By storage architecture, it is bifurcated into file and object based storage, and object storage. By storage medium, it is bifurcated into hard disk drive and solid state drive. By end-user, it is segregated into enterprises, government bodies, cloud service providers and telecom companies. By enterprise, it is divided into BFSI, healthcare, media and entertainment, retail, consumer goods, manufacturing, and others. By manufacturing, it is categorized into food & beverages, industrial machinery & heavy equipment, high-tech & consumer electronics, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players operating in AI powered storage market are Advanced Micro Devices, Amazon Web Services, CISCO, Dell Technologies, Fujitsu, Google, Hitachi, HPE, Intel Corporation, Lenovo, Micron Technology, Microsoft, NetApp, IBM, Pure Storage, Samsung Electronics, and Toshiba.
The increase in demand for better storage with enhanced security is one of the significant factors driving the growth of the AI powered storage market. The reduced turnaround time and compliance are other factors elevating the growth of the AI powered storage market. Moreover, AI powered storage is extensively being used for process automation and optimization. Furthermore, increased efficiency and data management are some of the factors anticipated to create new opportunities for the data center networking market.
The AI powered storage market is segmented into component, it is bifurcated into hardware and software. By storage system it is segmented into direct attached storage, network attached storage, and storage area network. By storage architecture, it is bifurcated into file and object based storage, and object storage. By storage medium, it is bifurcated into hard disk drive and solid state drive. By end-user, it is segregated into enterprises, government bodies, cloud service providers and telecom companies. By enterprise, it is divided into BFSI, healthcare, media and entertainment, retail, consumer goods, manufacturing, and others. By manufacturing, it is categorized into food & beverages, industrial machinery & heavy equipment, high-tech & consumer electronics, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players operating in AI powered storage market are Advanced Micro Devices, Amazon Web Services, CISCO, Dell Technologies, Fujitsu, Google, Hitachi, HPE, Intel Corporation, Lenovo, Micron Technology, Microsoft, NetApp, IBM, Pure Storage, Samsung Electronics, and Toshiba.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ai powered storage market analysis from 2021 to 2031 to identify the prevailing ai powered storage market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the ai powered storage market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global ai powered storage market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Component
- Hardware
- Software
By Storage System
- Direct attached Storage
- Network attached Storage
- Storage Area Network
By Storage Architecture
- File and Object Based Storage
- Object Storage
By Storage Medium
- Hard Disk Drive
- Solid State Drive
By End User
- Enterprises
- Enterprise Type
- BFSI
- Healthcare
- Media and Entertainment
- Retail
- Consumer Goods
- Manufacturing
- Others
- Government Bodies
- Cloud Service Providers
- Telecom Companies
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Lenovo
- Cisco Systems Inc.
- Advanced Micro Devices
- Intel Corporation
- hpe
- Hitachi
- Toshiba
- Pure Storage
- Dell Technologies Incorporated
- IBM Corporation
- Microsoft Corporation
- Amazon Web Services
- Fujitsu
- Alphabet (Google Inc.)
- Micron Technology
- Samsung Electronics
- NetApp
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AI POWERED STORAGE MARKET, BY COMPONENT
CHAPTER 5: AI POWERED STORAGE MARKET, BY STORAGE SYSTEM
CHAPTER 6: AI POWERED STORAGE MARKET, BY STORAGE ARCHITECTURE
CHAPTER 7: AI POWERED STORAGE MARKET, BY STORAGE MEDIUM
CHAPTER 8: AI POWERED STORAGE MARKET, BY END USER
CHAPTER 9: AI POWERED STORAGE MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, 'AI Powered Storage Market, By Component (Hardware, Software), By Storage System (Direct Attached Storage, Network Attached Storage, Storage Area Network), By Storage Architecture (File And Object Based Storage, Object Storage), By Storage Medium (Hard Disk Drive, Solid State Drive), By End User (Enterprises, Government Bodies, Cloud Service Providers, Telecom Companies): Global Opportunity Analysis And Industry Forecast, 2022-2031". The ai powered storage market size was valued at $15.6 billion in 2021, and is estimated to reach $162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.Rising demand of secured data storage and real-time updating from different sources has increased the adoption of AI powered storage. AI powered storage optimizes and automates the workflow making it easier for enterprises to store huge amount of critical data. Moreover, the scalability offered by AI can easily fulfill the rising demand of real-time data processing. This further propels the Artificial Intelligence Powered Storage Market growth.
Furthermore, rise in adoption of cloud-based application and services and adoption of robotics in warehousing is boosting the growth of the global AI powered storage market. However, lack of professionals in AI hardware and irregularity of AI algorithms is hampering the AI powered storage market growth. On the contrary, increase in demands of Al for high performance computing data is expected to offer remunerative opportunities for expansion during the AI powered storage market forecast.
Depending on storage architecture, file and object storage segment is dominating the AI Powered Storage Market Share in 2021 and is expected to do so during the forecast period, as owing to increase in amount of data in developing economies in Asia-Pacific including China, Japan, and India.
However, object-based storage segment is anticipated to have the highest growth in the forecast period due to, owing to rise in complexity, data organization, threat in business system, and demand of smooth technique, which leads to excessive opposition throughout industries.
Depending on region, North America dominated the market in 2021. This is attributed to growing developments in technology and digitalization of market in this region leading to adoption of AI powered storage to protect critical data of organizations. However, Asia-Pacific is expected to witness highest growth in the upcoming years, owing to increased cyber threats and rapid shift toward cloud-based platforms in this region.
One of the major drivers of AI-powered storage market is the rise in adoption of cloud-based applications and services. Cloud based applications have brought a massive revolution in the business industry, especially during COVID-19 pandemic. Many enterprises are adopting cloud-based platforms as it offers unlimited flexibility and reliability. Moreover, it offers great adaptability and is environment friendly which further drives the market growth. The AI-powered storage is extensively adopted owing to the digitalization of the markets after the pandemic. Enterprises are shifting all their workload to cloud based applications to ease remote working.
COVID -19 outbreak has significantly impacted the AI powered storage market. COVID-19 outbreak has significantly impacted the AI powered storage market for good. It led to complete shutdown of manufacturing and production across the globe. The global economy was also severely impacted by this pandemic which further generated hurdles for many industries and businesses globally.
However, the demand for advanced technologies to ease the remote working conditions increased. This further propelled new innovative approaches of utilizing machine learning and artificial intelligence. Further, many enterprises extensively adopted AI powered storage for real-time data storage to enhance their business model and reduce the turnaround time. Moreover, this upsurge has driven significant investments in this market globally.
KEY FINDINGS OF THE STUDY
By component, the hardware segment dominated the AI powered storage market in 2021. However, the software segment is expected to exhibit significant growth during the forecast period.On the basis of storage system, the direct attached storage segment dominated the AI powered storage market in 2021.However, the network attached storage segment is expected to witness the highest growth rate during the forecast period.
On the basis of storage architecture, the file and object based storage segment dominated the AI powered storage market in 2021.However, the object storage segment is expected to witness the highest growth rate during the forecast period.
On the basis of storage medium, the hard disk drive segment dominated the AI powered storage market in 2021.However, the solid state drive segment is expected to witness the highest growth rate during the forecast period.
On the basis of end-user, enterprise segment dominated the AI powered storage market in 2021.However, the government bodies segment is expected to witness the highest growth rate during the forecast period.
Region-wise, the AI powered storage market analysis was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
This report gives an in-depth profile of some key AI Powered Storage Industry players in the AI powered storage market include Advanced Micro Devices, Amazon Web Services, CISCO, Dell Technologies, Fujitsu, Google, Hitachi, HPE, Intel Corporation, Lenovo, Micron Technology, Microsoft, NetApp, IBM, Pure Storage, Samsung Electronics, and Toshiba. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the AI powered storage industry globally.
Companies Mentioned
- Lenovo
- Cisco Systems Inc.
- Advanced Micro Devices
- Intel Corporation
- hpe
- Hitachi
- Toshiba
- Pure Storage
- Dell Technologies Incorporated
- IBM Corporation
- Microsoft Corporation
- Amazon Web Services
- Fujitsu
- Alphabet (Google Inc.)
- Micron Technology
- Samsung Electronics
- NetApp
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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