Frequently Asked Questions
The global AI-powered storage market was valued at USD 15.1 Billion in 2022.
The AI-powered storage market is anticipated to grow at a CAGR of 26.2% between 2023 and 2030, reaching USD 76.98 Billion in 2030.
Hardware is the leading component segment, holding over 52% share in value in 2022.
The storage area network segment governs the demand for AI-powered storage worldwide, holding a massive share of over 40% in 2022.
The cloud service providers segment will post the highest CAGR in the projected period.
Asia Pacific is fuelling the rapid growth of the AI-powered storage industry, with an over one-third share in 2022.
The top players include Samsung Electronics, Alphabet (Google Inc), IBM Corporation, and Amazon Web Services. Other major players include Intel Corporation, Fujitsu, Cisco Systems Inc, and Dell Technologies Inc.
The exponential growth of data, the increasing acceptance of AI and machine learning technologies, and the demand for effective storage and analysis solutions are the primary market drivers of the AI-powered storage industry.
The major market restraints of the AI-powered storage industry include data privacy and security concerns, high upfront costs associated with implementation, and the complexity of integrating AI technologies into existing storage infrastructure.
The major market opportunities for the AI-powered storage industry are developing advanced software solutions, integrating with emerging technologies like cloud computing and edge computing, and increasing demand for intelligent storage systems in various sectors for real-time data processing and analysis.