AI-powered Storage Market

The global AI-powered storage market is expected to exhibit a strong 17.56% CAGR over the forecast period from 2023 to 2030, according to the latest research report from Market Research Future (MRFR). The global AI-powered storage market is expected to rise to a valuation of USD 24.5 billion by 2030, according to the report. The report presents a comprehensive evaluation of the global AI-powered storage market by examining the market’s historical growth trajectory and present statistics. The information about the market’s past and present is further used to present reliable, accurate forecasts about the market’s likely growth trajectory over the forecast period. The major drivers and restraints affecting the global AI-powered storage market are examined in the report to provide readers with a clear overview of the market’s growth trajectory. Major players operating in the global AI-powered storage market are also examined in the report, giving readers a clear overview of the competitive landscape of the market. The report also examines the impact of the COVID-19 pandemic on the global AI-powered storage market.

AI-powered storage enables more efficient analysis of data. The growing volume of data being generated every day and the growing demand for effective data analytics are the major drivers for the global AI-powered storage market. The growing online presence of urban consumers has led to a rapid growth in the volume of data being generated daily. Growing reliance on social media for forming connections has been a major driver for the volume of data being generated daily. Social media platforms such as Facebook have become massive in the modern world, thanks to the growing desire among urban consumers to remain connected with the wider world through the window created by the social media platforms. Facebook posts and stories have become a popular way of staying in touch with old friends and relatives as well as of finding new friends through the social medium. The ease of taking photographs and videos through modern smartphone cameras has also added to the popularity of Facebook and other social media, as creating attractive media has become easier with the advent of advanced smartphone camera technology.

The growing demand to analyze user data to obtain useful insights into user behavior is also a major driver for the AI-powered storage market. AI-powered data storage allows the user to accurately draw conclusions from various data points. It also enables complete use of the data, as human error is reduced and machine intelligence allows for a comprehensive evaluation of all the available data points. This is also likely to be a major driver for the global AI-powered storage market over the forecast period.

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AI Powered Storage Market Competitive Leaderboard:

Leading players in the global AI-powered storage market include NetApp, Western Digital, Micron Technology, Samsung Electronics, Lenovo, NVIDIA Corporation, Hitachi, Pure Storage, Intel Corporation, Toshiba, IBM, HPE Company, Cisco, Advanced Micro Devices, and Dell Technologies.

AI Powered Storage Market Segmentation:

The global AI-powered storage market is segmented on the basis of offering, storage system, storage architecture, storage medium, end use, and region.

By offering, the global AI-powered storage market is segmented into hardware and software. The hardware segment is further sub-segmented into SSD, HDD, CPU, and GPU.

By storage system, the global AI-powered storage market is segmented into direct-attached storage system, network-attached storage system, and storage area network.

By storage architecture, the global AI-powered storage market is segmented into file storage, object storage, and block storage.

By storage medium, the global AI-powered storage market is segmented into hard disk drive and solid state drive.

By end use, the global AI-powered storage market is segmented into BFSI, healthcare, media and entertainment, retail, manufacturing, telecommunications, and others.

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AI Powered Storage Market Regional Analysis:

North America is likely to hold the largest share in the global AI-powered storage market over the forecast period. The growing penetration of AI technology in sectors such as healthcare, manufacturing, BFSI, and telecom in North America is likely to remain a major driver for the AI-powered storage market in the region over the forecast period.