The global AI-powered storage market revenue was around US$ 25.0 billion in 2023 and is estimated to reach US$ 210.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 26.7% during the forecast period from 2024 to 2032.
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AI-powered storage is gaining popularity due to the rising demand for machine learning and artificial intelligence. AI-powered storage uses developed analytics which forms augmented demand for business infrastructure. Also, it plays a vital role in digitization and the adoption of connected devices.
Factors Influencing Market Growth
– The rise of the adoption and applications of cloud-based services and the adoption of robotics in warehousing are augmenting the growth of the AI-powered storage market.
– The irregularity of AI algorithms and the absence of professionals in AI hardware is hindering the growth of the AI-powered storage market.
– The growth in demands of Al for high-performance computing data is anticipated to deliver remunerative opportunities for the development of the AI-powered storage market during the forecast period.
Impact of COVID-19
The impact of COVID-19 pandemic outbreak had a significant influence on the global AI-powered storage market. This is attributed to a total shutdown of production and manufacturing across the world. The global economy was also severely affected by this pandemic which also generated hindrances for many businesses and industries globally. Also, the demand for cutting-edge technologies to reduce remote working conditions is augmented. This further drove new innovative approaches to using artificial intelligence and machine learning.
Regional Analysis
In 2023, North America dominated the global AI-powered storage market in terms of revenue. This is attributed to the rising developments in technology and the digitalization of the market in this region leading to the adoption of AI-powered storage to safeguard vital data of organizations.
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Also, Asia-Pacific is anticipated to notice the highest growth in the global AI-powered storage market in the future because of the augmented cyber threats and the rapid change toward cloud-based platforms in the Asia-Pacific region.
Leading Companies
The leading prominent companies profiled in the global 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
– Toshiba
– Other prominent key players
Scope of the Report
The research report on the Global AI Powered Storage Market provides a comprehensive and detailed analysis of the industry. It encompasses vital elements such as industry size, market share, prominent players, segments, and sub-segments. This research document serves as a crucial tool for gaining deeper insights into the present state of the market and its prospective growth until the year 2032.
Market research plays a crucial role in understanding the dynamics of the Market. It helps businesses and marketers identify key demographics and market segments that are most likely to use a given product or service. Key Companies can tailor their advertising efforts and optimize their strategies by understanding consumer preferences and behaviors.
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Global AI Powered Storage Market Drivers and Restraints
The Global AI Powered Storage Market is driven by several key factors that significantly impact its growth and development. Understanding these drivers is essential for businesses and marketers to capitalize on opportunities and effectively harness the potential of AI Powered Storage in the digital landscape.
Despite the numerous opportunities and benefits that AI Powered Storage offer, the Global Market also faces certain restraints that can impact its growth and effectiveness. Identifying and understanding these restraints is crucial for businesses and marketers to navigate the challenges and optimize their strategies.
Segmentation Outline
The global AI-powered storage market segmentation focuses on Component, Storage System, Storage Architecture, Storage Medium, End User, and Region.
Segmentation based on Component
– Hardware
– Software
Segmentation based on Storage System
– Direct attached Storage
– Network-attached Storage
– Storage Area Network
Segmentation based on Storage Architecture
– File and Object-Based Storage
– Object Storage
Segmentation based on Storage Medium
– Hard Disk Drive
– Solid State Drive
Segmentation based on End User
– Enterprises
– BFSI
– Healthcare
– Media and Entertainment
– Retail
– Consumer Goods
– Manufacturing
– Others
– Government Bodies
– Cloud Service Providers
– Telecom Companies
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Segmentation based on Region
– North America
– The U.S.
– Canada
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Netherlands
– Rest of Europe
– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest Of Asia-Pacific
– LAMEA
– Latin America
– Middle East
– Africa
These responses will function a complete examination of the:
- The markets’ present-day infrastructures
- Market possibilities and challenges
- Future plausible for increase in particular industries
- Major geographic and market segments to target, and end-user goal organizations and their viable operational volumes
- Representative and a price chain probability breakdown
- Market dimension and boom price during the expected time frame.
- The market’s important using forces
- Key market traits are impeding market expansion.
- Obstacles to market expansion.
- Market’s pinnacle merchants.
- Thorough SWOT analysis
- Threats and possibilities confronted with the aid of the modern carriers in the world market.
- Trending elements that affect the markets in the quite a number region.
- Initiatives with a strategic center of attention on the pinnacle vendors.
- PEST find out about of the five essential market regions.
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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