AI Powered Storage Market by Storage System (Direct Attached Storage (DAS), by Storage Architecture (File-Based and Object-Based), by Storage Medium (Hard Disk Drive (HDD), by End-user (Enterprises, Telecom Companies, Cloud Service Providers (CSPs), by North America (U.S., Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (United Kingdom, Germany, France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), by MEA (Middle East, Africa) Forecast 2024-2032
The AI Powered Storage Market size was valued at USD 18.56 USD Billion in 2023 and is projected to reach USD 89.50 USD Billion by 2032, exhibiting a CAGR of 25.2 % during the forecast period. The AI-Powered Storage Market encompasses that part of the storage sector which incorporates AI-based technologies to optimize storage of data via implementation of advanced AI algorithms and knowledge base systems. These systems are self-governing and predictive due to the application of AI algorithms for data usage pattern analysis, memory storage determining, and data transfer automation. AI-driven storage systems are used because now they allow faster data temperature and cut the storage cost as well for the organization to protect the data. For example, the applications form a database of self-learning data tiering, self-learning data classification, and predictive maintenance of storage hardware. The market features include AI analytics for real-time monitoring and assessment of the state storage performance, machine learning algorithms for the detection and anticipation of abnormalities, and autonomous storage solutions that can self-optimize and heal themselves in response to the problem of AI diagnostics. With data being a critical component of numerous organizations, AI-extended storage solutions now become imperative in terms of optimally employing the storage infrastructure and also in making the data more valuable.
By Storage System:
By Storage Architecture:
By Storage Medium:
By End-user:
October 2023: Pure Storage, Inc. expanded its Evergreen portfolio to cover customers' rack space and power costs for Evergreen's Flex subscriptions and One Storage-as-a-Service (STaaS).
July 2023: Lenovo introduced the ThinkSystem DG and DM3010H Enterprise Storage Arrays, designed to empower organizations with AI workloads.
June 2023: Dropbox unveiled Dropbox Dash and Dropbox AI, a suite of AI products to enhance productivity and streamline processes.
This comprehensive report on the AI Powered Storage Market provides in-depth insights into market dynamics, key trends, competitive landscape, and growth opportunities. It offers a granular analysis of market segments, providing valuable information for industry stakeholders.
The AI Powered Storage Market is poised for substantial growth, driven by the increasing adoption of AI and the need for high-performance and scalable storage solutions. Organizations across industries are investing in AI initiatives, creating a lucrative market for AI-powered storage.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 25.2% from 2018-2032 |
Segmentation |
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