The Business Research Company’s report on the AI-Powered Storage Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the ai-powered storage market further?
Growing numbers of data centers are expected to propel the growth of the AI-powered storage market going forward. Data centers refer to facilities that offer shared access to applications and data through a sophisticated network, computing, and storage infrastructure. AI-powered storage analyses vast amounts of real-time data in data centers using machine learning algorithms and predictive analytics that allows data center operators to identify patterns and make informed decisions to optimize resource allocation, capacity planning, and workload management. For instance, in July 2023, according to the data published by the CBRE Group, Inc., a US-based commercial real estate services and investment company, a record 323.9 MW of data center capacity is under construction, with 88.4% preleased, following an 850% surge in leasing activity in Dallas last year, while total inventory increased by 17% year-over-year from Q1 2022 to Q1 2023. Therefore, growing numbers of data centers are driving the growth of the AI-powered storage market.
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What are the key factors influencing the forecasted market size of the ai-powered storage industry?
The AI-powered storage market size has grown exponentially in recent years. It will grow from $31.88 billion in 2024 to $39.5 billion in 2025 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to rise of cloud computing, increasing complexity of data, data security concerns, demand for real-time analytics, growing IoT ecosystem
The AI-powered storage market size is expected to see exponential growth in the next few years. It will grow to $103.72 billion in 2029 at a compound annual growth rate (CAGR) of 27.3%. The growth in the forecast period can be attributed to data-driven decision-making, increasing data privacy regulations, autonomous storage management, quantum computing impact, continuous learning storage systems. Major trends in the forecast period include technological advancements in neural networks, AI in data lifecycle management, AI for predictive storage maintenance, AI-optimized storage hardware, AI-powered disaster recovery, green AI storage solutions.
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Who are the leading competitors in the ai-powered storage market?
Major companies operating in the AI-powered storage market include Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Lenovo Group Limited, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Fujitsu Limited, Micron Technology Inc., Hewlett Packard Enterprise Company (HPE), Nvidia Corporation, Toshiba Corporation, Pure Storage Inc., Veritas Technologies LLC, Cohesity Inc., Infinidat, Tintri Inc., CTERA Networks Ltd., Zadara Inc., Pavilion Data Systems Inc., MinIO Inc., DriveScale Inc., Caringo Inc.
Which emerging trends are set to transform the ai-powered storage market landscape?
Product innovation is a key trend gaining popularity in the AI-powered storage market. Major companies operating in the AI-powered storage market are working on product innovations to sustain their position in the market. For instance, in October 2023, Huawei Technologies Co. Ltd., a China-based multinational technology corporation, launched the OceanStor A310, a new AI storage model designed for the era of large AI models. In order to release new AI capabilities, the system offers the optimal storage capacity for training industry models, basic model training, and inference in segmented scenario models. OceanStor A310 is a deep learning data lake storage solution with unlimited horizontal scalability and high performance for mixed workloads in the context of industry large model scenarios and basic models. It makes it possible to manage huge data storage for AI processes, such as data collection, pre-processing, training, and inference, end-to-end. It can analyze data from similar sources and has data analysis skills that are compatible with big data and HPC (high-performance computing).
How do different geographies compare in terms of market share and growth potential in the ai-powered storage market?
North America was the dominant region in the AI-powered storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI-powered storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the ai-powered storage market are experiencing the fastest growth?
The AI-powered storage market covered in this report is segmented –
1) By Offering: Software, Hardware
2) By Storage System: Direct-Attached Storage, Network-Attached Storage, Storage Area Network
3) By Storage Medium: Hard Disk Drive (HDD), Solid State Drive (SSD)
4) By Storage Architecture: File And Object-Based Storage, Block Storage
5) By End-User: Enterprises, Government Bodies, Cloud Service Providers, Telecom Companies, Other End-users
Subsegments:
1) By Software: AI Storage Management Software, Data Analytics Software, AI-Driven Backup And Recovery Solutions
2) By Hardware: AI-Optimized Storage Devices, Hybrid Storage Solutions, High-Performance Storage Systems
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How is the ai-powered storage market defined, and what are its core characteristics?
AI-powered storage refers to storage systems that use artificial intelligence techniques to improve storage infrastructure efficiency, performance, and management. These systems use AI algorithms capabilities to intelligently analyze digital data to improve overall store operations and enable businesses to analyze data rapidly and intelligently, offering insights instantly.
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