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AI-Powered Storage Market Overview
Rise in massive data generation, growing adoption of data analytics to enhance the decision-making capabilities, utilization of cloud-based services by enterprises to store their data using virtual servers and increasing demand for AI in high performance computing data centres are some of the key factors driving the global AI-powered storage systems market. Increasing government regulations and compliances with regard to data generated are also contributing to the market growth.
The AI-powered storage market based on offering is categorized into hardware and software. The hardware category dominated the market in 2019 and is expected to witness the fastest growth in the forecast period. This category is further categorized into central processing unit (CPU) and graphics processing unit (GPU).
The AI-powered storage market based on the storage system is categorized into a direct-attached storage system, network-attached storage system, and storage area network. The storage area network category is expected to account for the largest market share by 2030. However, the network-attached storage system category is expected to register the highest CAGR during the forecast period.
The AI-powered storage market in terms of storage architecture is categorized into file storage, object storage, and block storage. Among these, the file storage category is projected to account for the largest market share in 2019, and the block storage category is expected to witness the fastest growth during the forecast period.
The AI-powered storage market on the basis of the storage medium is categorized into the hard disk drive and solid-state drive. Between these, the hard disk drive category is expected to account for the largest market share, owing to its affordability. The solid-state drive category is further bifurcated into the hybrid-flash array and all-flash array.
AI-Powered Storage Market Dynamics
Increasing adoption of cloud-based services and applications and rise in the number of connected devices are playing a major role in driving the growth of the AI-powered storage market. Use of AI-powered storage systems for high-performance computing helps enterprises in unifying and working with high volumes of unstructured data by enabling flexible data movement between IT infrastructure and enterprise. These systems can deliver features like scalability, flexibility and performance, which AI projects demand. These advantages have led to wider adoption of AI-powered storage systems across various end-use verticals, such as healthcare, BFSI, and media and entertainment.
AI-Powered Storage Market Competitive Landscape
With the presence of various players, the AI-powered storage market is highly competitive in nature. The players rapidly launching new products to increase their customer base and remain competitive in the market. For instance, in 2019, data storage products provider Pure Storage Inc. entered into a definitive agreement to acquire file software solution developing firm Compuverde AB. This will expand the Pure Storage company’s file-based storage offerings and improve unstructured data management and global scale storage management.
Some of the key players operating in the global AI-Powered Storage market are Dell Technologies Inc., Hewlett Packard Enterprise Company, International Business Machines Corporation, NVIDIA Corporation, Pure Storage Inc., Intel Corporation, NetApp Inc., Samsung Electronics Co. Ltd., Micron Technology Inc., Cisco Systems Inc., Advanced Micro Devices Inc., Toshiba Corporation, Hitachi Ltd., and Lenovo Group. Other players include Datadirect Network Inc., Seagate Technology PLC, Flextronics International Ltd., Western Digital Corporation, Fujitsu Limited, and Tintri Inc.
The report provides a country-wise analysis of the AI-powered storage market. The major countries covered in the report are the U.S., Canada, the U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Thailand, Indonesia, Malaysia, Singapore, Mexico, Brazil, Argentina, Colombia, South Africa, Turkey, the U.A.E., Saudi Arabia, and Qatar.
Market Size Breakdown by Segment
Based on Offering
Based on Storage System
Based on Storage Architecture
Based on Storage Medium
Based on End User