PORTLAND, OR, Nov. 09, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global AI-powered storage market generated $15.6 billion in 2021 and is projected to reach $162.5 billion by 2031, at a CAGR of 26.7% from 2022 to 2031. The report provides a detailed analysis of top winning strategies, evolving market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, pioneers and stockholders to introduce necessary strategies for the future and take essential steps to significantly strengthen and expand their position in the market.
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Report coverage and details:
|Market size in 2021||$15.6 billion|
|Market size in 2031||$162.5 billion|
|Number of pages in the report||343|
|Covered Segments||Component, storage system, storage architecture, storage medium, end user and region|
|driver||Increasing acceptance of artificial intelligence services and increasing amounts of data.|
|Increasing the acceptance of connected devices, cloud-based applications and robotics in warehouse activities.|
|occasions||A significant increase in demand for AI for high-performance computing data.|
|limitations||Poor accuracy of AI algorithms and low availability of skilled personnel for AI hardware.|
- The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global AI-powered storage market as manufacturing units across the world shut down completely.
- However, a large number of companies have adopted AI-powered storage systems for real-time data storage to expand their business while reducing turnaround time. This led to massive growth of the global market during the COVID-19 pandemic.
The report provides detailed segmentation of the global AI-powered storage market based on component, storage system, storage architecture, storage medium, end-user and region. The report provides a comprehensive analysis of each segment and its respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market participants, investors and new entrants to determine and develop strategies based on the fastest growing segments and highest revenue generation mentioned in the report.
Based on components, the hardware segment held the largest market share in 2021, holding nearly three-fifths of the global AI-powered storage market share and is expected to maintain its leading position during the forecast period. However, the software segment is expected to register the fastest CAGR of 28.2% over the forecast period.
On the basis of storage architecture, the file and object-based storage segment held the largest market share in 2021, accounting for nearly two-thirds of the global AI-powered storage market share and is expected to maintain its leading position during the forecast period. Nonetheless, the object storage segment is expected to register the highest CAGR of 28.1% over the forecast period.
In terms of end-users, the enterprise segment held the largest market share and contributed nearly two-fifths of the global AI-powered storage market share in 2021 and is expected to maintain its leading position during the forecast period. However, the government agency segment is expected to register the fastest CAGR of 28.9% over the forecast period.
Based on storage medium, the hard disk drive segment held the largest market share in 2021 and contributed to more than half of the global AI-powered storage market share. However, solid state drives are expected to maintain their leadership position in terms of revenue and register the highest CAGR of 28.0% during the forecast period.
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In regional terms, the North American region held the largest market share with more than two-fifths of the global market share of AI-powered storage in 2021 and is expected to maintain its leadership position during the forecast period. However, the Asia-Pacific AI-powered storage market is forecast to register the fastest CAGR of 28.3% during the assessment period. The report also analyzes other regions such as Europe and LAMEA.
Major Players analyzed in Global AI-Enabled 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.
The report analyzes these major players in the global AI-powered storage market. These market players have effectively used strategies like joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their presence and power in the industry. The report is helpful in analyzing the recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global, mid- and small-sized companies with unmatched quality of “Market Research Reportsand Business Intelligence Solutions. AMR has a focused view of providing business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market space.
We are in professional business relationships with various companies and this helps us to unearth market data which help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar, CEO of Allied Market Research, is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients succeed in any way possible. All data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable professionals and analysts in the industry.