Artificial Intelligence Ai Powered Storage System Market
Artificial Intelligence (AI) Powered Storage System Market Forecasts to 2030 - Global Analysis By Offering (Hardware, Software and Other Offerings), Storage System (Direct Attached Storage Systems, Network Attached Storage Systems and Other Storage Systems), Storage Medium, Storage Architecture, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $24.26 BN |
|
Projected Year Value (2030) |
US $113.74 BN |
|
CAGR (2023 - 2030) |
24.7% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global AI Powered Storage Market is accounted for $24.26 billion in 2023 and is expected to reach $113.74 billion by 2030 growing at a CAGR of 24.70% during the forecast period. Artificial intelligence (AI)-powered storage is a term used to describe storage solutions that use AI technologies to improve data storage system performance, efficiency, and management. These systems analyze data patterns, forecast usage, and optimize storage resources in real-time by using machine learning algorithms. With the help of this creative solution, businesses can improve the responsiveness, scalability, and affordability of their storage infrastructure.
-Powered-Storage-System-Market-Fig-2.jpg)
Market Dynamics:
Driver:
Data center modernization
Businesses look to improve their infrastructure to handle the growing demands of AI workloads. Large datasets are produced by AI applications, necessitating effective storage options for speedy access and analysis. Improved performance, scalability, and responsiveness are made possible by modernizing data centers with AI-powered storage solutions, which also optimize data processing for AI algorithms. These solutions frequently make use of cutting-edge technologies, like predictive analytics machine learning algorithms, to improve data management and guarantee smooth integration with developing AI applications.
Restraint:
Data security and privacy concerns
Large-scale sensitive data collection and analysis by these systems increases the possibility of unwanted access and security breaches. To reduce these risks, it becomes essential to have strong encryption, access controls, and compliance with data protection laws. The difficulty is striking a careful balance between protecting people's privacy and utilizing AI's potential to optimize storage. Increased awareness of data privacy concerns and stricter regulations highlight the necessity of having robust security features in AI-powered storage solutions.
Opportunity:
Smart data backup and recovery
By utilizing cutting-edge algorithms and machine learning, intelligent data backup and recovery offers a substantial opportunity in the AI-powered storage market. Artificial intelligence (AI) can improve data security by anticipating possible threats and streamlining backup plans. Through intelligent analytics and automation, AI-driven recovery solutions facilitate quicker and more precise data restoration, improving overall system resilience. Furthermore, the use of AI in backup and recovery procedures gives organizations a competitive edge by meeting their changing needs for managing and protecting their vital data.
Threat:
Vendor lock-in
In the AI-powered storage market, vendor lock-in refers to the danger of becoming unduly reliant on the proprietary technologies and formats of a single provider. Organizations implementing AI storage solutions might incorporate vendor-specific, specialized formats or algorithms. This can make it difficult to switch providers, limiting flexibility and resulting in expensive switching expenses. In the context of AI storage, the risk of vendor lock-in highlights the value of open-source solutions and standardization, which free users from vendor lock-in and promote a more competitive and interoperable market.
Covid-19 Impact:
There is a growing need for scalable and effective storage solutions to handle the spike in data volume as remote work becomes more common. AI-powered storage is being used by businesses to improve security, accessibility, and data management. Investments in cutting-edge storage technologies have been fuelled by the necessity for a solid infrastructure to support AI and machine learning applications. Additionally, the market has recovered robustly despite early supply chain disruptions as companies prioritize digital transformation initiatives, which is driving up the adoption of AI-powered storage solutions.
The hard disk drive segment is expected to be the largest during the forecast period
The Hard Disk Drive (HDD) segment has seen strong growth because of its high storage capacities and affordability, which enable it to meet the enormous data requirements of AI applications. For enterprises looking for scalable storage solutions, HDDs are the better option because they provide a dependable and affordable means of storing large datasets produced by AI algorithms. Furthermore, the performance of HDDs has also been improved by developments in technology, such as increased areal density and faster rotational speeds, which are in line with AI's intensive data processing needs.
The network attached storage systems segment is expected to have the highest CAGR during the forecast period
The growing need for effective and scalable storage solutions in the artificial intelligence era is driving the network attached storage systems segment. Large dataset handling requires high-speed data access and storage capabilities, which are provided by NAS systems with seamless integration with AI workflows. Strong and easily accessible storage solutions are becoming more and more necessary as AI applications are being used in a wider range of industries, including manufacturing, healthcare, and finance. Because of their improved data management capabilities, NAS systems are becoming essential for businesses implementing AI projects, which have led to the significant growth this market segment has seen.
Region with largest share:
North America has played a significant role in the global AI industry, and the region's growth in AI-powered storage solutions is due to the fact that artificial intelligence is being adopted more widely in a variety of industries. The region is seeing an increase in the use of AI-powered storage solutions due to region’s strong technological infrastructure, large R&D investments, and vibrant start-up ecosystem. North America's AI-powered storage market is predicted to grow steadily due to the region's increasing need for sophisticated data management and analytics capabilities. Further, this will encourage innovation and technological advancements in storage technologies of this region.
Region with highest CAGR:
The market for AI-powered storage has grown significantly in the Asia-Pacific region, primarily due to the region's increased adoption of cutting-edge technologies and the region's widespread digital transformation. The incorporation of artificial intelligence into storage systems has been facilitated by the increase in demand for effective data management solutions. This growth has been further fuelled by expanding cloud infrastructure, a rapidly developing IT landscape, and rapid economic development. Leading nations like China, India, and Japan are utilizing AI-powered storage to boost scalability, optimize resource usage, and improve data analytics.
Key players in the market
Some of the key players in AI Powered Storage market include Advanced Micro Devices, CISCO, Datadirect Network, Dell Technologies, Flextronics International, Hitachi, HPE , IBM, Lenovo, Micron Technology, NetApp, NVIDIA Corporation, Pure Storage, Samsung Electronics, Seagate Technology PLC, Tintri , Toshiba and Western Digital.
Key Developments:
In December 2023, Dell is collaborating with NVIDIA to validate PowerScale with NVIDIA DGX SuperPOD, an AI infrastructure solution. This collaboration promises a validated blend of NVIDIA DGX systems, Dell PowerScale storage, and advanced networking technologies to deliver faster and more efficient AI storage. Notably, Dell's PowerScale is set to be the first ethernet storage solution validated on NVIDIA DGX SuperPOD, ensuring customers access to industry-leading network-attached storage for their AI initiatives.
In October 2023, Seagate Technology and Perifer, announced a new on-premises solution for scaling out object storage. Integration between Perifery Swarm and Seagate Exos CORVAULT provides users in high-growth edge markets, including media and entertainment, health care, retail, and manufacturing, with a high-performance, scalable, and secure object storage solution that dramatically lowers CPU requirements, reduces costs, and improves the end-user experience.
Offerings Covered:
• Hardware
• Software
• Other Offerings
Storage Systems Covered:
• Direct Attached Storage Systems
• Network Attached Storage Systems
• Storage Area Network
• Other Storage Systems
Storage Mediums Covered:
• Hard Disk Drive
• Solid State Drive
• Other Storage Mediums
Storage Architectures Covered:
• Block Storage
• File Based Storage
• Object Based Storage
• Other Storage Architectures
End Users Covered:
• Enterprises
• Government Bodies
• Telecom Companies
• Cloud Service Providers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global AI Powered Storage Market, By Offering
5.1 Introduction
5.2 Hardware
5.3 Software
5.4 Other Offerings
6 Global AI Powered Storage Market, By Storage System
6.1 Introduction
6.2 Direct Attached Storage Systems
6.3 Network Attached Storage Systems
6.4 Storage Area Network
6.5 Other Storage Systems
7 Global AI Powered Storage Market, By Storage Medium
7.1 Introduction
7.2 Hard Disk Drive
7.3 Solid State Drive
7.3.1 All Flash Arrays
7.3.2 Hybrid Flash Arrays
7.3.3 Other Solid State Drives
7.4 Other Storage Mediums
8 Global AI Powered Storage Market, By Storage Architecture
8.1 Introduction
8.2 Block Storage
8.3 File Based Storage
8.4 Object Based Storage
8.5 Other Storage Architectures
9 Global AI Powered Storage Market, By End User
9.1 Introduction
9.2 Enterprises
9.2.1 Media and Entertainment
9.2.2 BFSI
9.2.3 Healthcare
9.2.4 Retail
9.2.5 Consumer Goods
9.2.6 Manufacturing
9.2.7 Other Enterprises
9.3 Government Bodies
9.4 Telecom Companies
9.5 Cloud Service Providers
9.6 Other End Users
10 Global AI Powered Storage Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Advanced Micro Devices
12.2 CISCO
12.3 Datadirect Network
12.4 Dell Technologies
12.5 Flextronics International
12.6 Hitachi
12.7 HPE
12.8 IBM
12.9 Lenovo
12.10 Micron Technology
12.11 NetApp
12.12 NVIDIA Corporation
12.13 Pure Storage
12.14 Samsung Electronics
12.15 Seagate Technology PLC
12.16 Tintri
12.17 Toshiba
12.18 Western Digital
List of Tables
1 Global AI Powered Storage Market Outlook, By Region (2021-2030) ($MN)
2 Global AI Powered Storage Market Outlook, By Offering (2021-2030) ($MN)
3 Global AI Powered Storage Market Outlook, By Hardware (2021-2030) ($MN)
4 Global AI Powered Storage Market Outlook, By Software (2021-2030) ($MN)
5 Global AI Powered Storage Market Outlook, By Other Offerings (2021-2030) ($MN)
6 Global AI Powered Storage Market Outlook, By Storage System (2021-2030) ($MN)
7 Global AI Powered Storage Market Outlook, By Direct Attached Storage Systems (2021-2030) ($MN)
8 Global AI Powered Storage Market Outlook, By Network Attached Storage Systems (2021-2030) ($MN)
9 Global AI Powered Storage Market Outlook, By Storage Area Network (2021-2030) ($MN)
10 Global AI Powered Storage Market Outlook, By Other Storage Systems (2021-2030) ($MN)
11 Global AI Powered Storage Market Outlook, By Storage Medium (2021-2030) ($MN)
12 Global AI Powered Storage Market Outlook, By Hard Disk Drive (2021-2030) ($MN)
13 Global AI Powered Storage Market Outlook, By Solid State Drive (2021-2030) ($MN)
14 Global AI Powered Storage Market Outlook, By All Flash Arrays (2021-2030) ($MN)
15 Global AI Powered Storage Market Outlook, By Hybrid Flash Arrays (2021-2030) ($MN)
16 Global AI Powered Storage Market Outlook, By Other Solid State Drives (2021-2030) ($MN)
17 Global AI Powered Storage Market Outlook, By Other Storage Mediums (2021-2030) ($MN)
18 Global AI Powered Storage Market Outlook, By Storage Architecture (2021-2030) ($MN)
19 Global AI Powered Storage Market Outlook, By Block Storage (2021-2030) ($MN)
20 Global AI Powered Storage Market Outlook, By File Based Storage (2021-2030) ($MN)
21 Global AI Powered Storage Market Outlook, By Object Based Storage (2021-2030) ($MN)
22 Global AI Powered Storage Market Outlook, By Other Storage Architectures (2021-2030) ($MN)
23 Global AI Powered Storage Market Outlook, By End User (2021-2030) ($MN)
24 Global AI Powered Storage Market Outlook, By Enterprises (2021-2030) ($MN)
25 Global AI Powered Storage Market Outlook, By Media and Entertainment (2021-2030) ($MN)
26 Global AI Powered Storage Market Outlook, By BFSI (2021-2030) ($MN)
27 Global AI Powered Storage Market Outlook, By Healthcare (2021-2030) ($MN)
28 Global AI Powered Storage Market Outlook, By Retail (2021-2030) ($MN)
29 Global AI Powered Storage Market Outlook, By Consumer Goods (2021-2030) ($MN)
30 Global AI Powered Storage Market Outlook, By Manufacturing (2021-2030) ($MN)
31 Global AI Powered Storage Market Outlook, By Other Enterprises (2021-2030) ($MN)
32 Global AI Powered Storage Market Outlook, By Government Bodies (2021-2030) ($MN)
33 Global AI Powered Storage Market Outlook, By Telecom Companies (2021-2030) ($MN)
34 Global AI Powered Storage Market Outlook, By Cloud Service Providers (2021-2030) ($MN)
35 Global AI Powered Storage Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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