AI Powered Storage Market Scenario Highlighting Major Drivers & Growth Forecast by 2031

Rise in acceptance of artificial intelligence services and surging data volumes to boost the global AI powered storage market trends. Region-wise, the North American region held the major market share in 2021, holding more than two-fifths of the global AI Powered Storage Market share and is expected to maintain its leadership status during the forecast period.

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The report offers a detailed segmentation of the global AI powered storage market based on component, storage system, storage architecture, storage medium, end user, and region. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.

Based on component, the hardware segment held the major market share in 2021, holding nearly three-fifths of the global AI powered storage market share, and is expected to maintain its leadership status during the forecast period. However, the software segment, is expected to cite the fastest CAGR of 28.2% during the forecast period.

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Region-wise, the North American region held the major market share in 2021, holding more than two-fifths of the global AI powered storage market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific AI powered storage market is forecast to record the fastest CAGR of 28.3% during the assessment period. The report also analyses other regions such as Europe and LAMEA.

The key players analyzed in the global AI powered storage market report include Advanced Micro Devices, Inc., Amazon Web Services, Inc., Cisco Systems, Inc., Dell Technologies Inc., Fujitsu Limited, Google, Inc., Hitachi, Ltd., The Hewlett Packard Enterprise Company, Intel Corporation, Lenovo Group Limited, Micron Technology, Inc., Microsoft Corporation, NetApp, Inc., The International Business Machines Corporation, Pure Storage, Samsung Electronics Co., Ltd., and Toshiba Corporation.

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COVID-19 Scenario:

  • The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global AI powered storage market, owing to total shutdown of manufacturing units across the globe.
  • However, a large number of enterprises adopted AI-powered storage systems for real-time storage of data to expand their business along with reducing turnaround time. This led to a massive growth of the global market during the COVID-19 pandemic.    

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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