AI Powered Storage Market Valued $15.6 Billion in 2021

According to a report ($5,820) published by Allied Market Research, the global AI powered storage market valued $15.6 billion in 2021, and is anticipated to reach $162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.

The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers and opportunities, competitive landscape, and regional landscape. It is a source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

It offers a detailed segmentation of the global AI powered storage market based on component, storage system, storage architecture, storage medium, end user, and region. The It provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation.

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.

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 leadership status during the forecast period. Nevertheless, the object storage segment, is expected to cite the highest CAGR of 28.1% during the forecast period.

In terms of end user, the enterprises segment held the major market share in 2021, contributing to nearly two-fifths of the global AI powered storage market share, and is expected to maintain its leadership position during the forecast period. However, the government bodies segment, is expected to cite the fastest CAGR of 28.9% during the forecast period.

Based on storage medium, the HDD segment held the major market share in 2021, contributing to more than half of the global AI powered storage market share. However, SSD is expected to maintain its leadership position in terms of revenue and register the highest CAGR of 28.0% during the forecast period.

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 AsiaPac market is forecast to record the fastest CAGR of 28.3% during the assessment period.

The key players analyzed in this 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.

Key findings of the study:
• By component, the hardware segment dominated the AI powered storage market in 2021. However, the software segment is expected to exhibit significant growth during the forecast period.
• On the basis of storage system, the DAS segment dominated the AI powered storage market in 2021. However, the NAS segment is expected to witness the highest growth rate during the forecast period.
• On the basis of storage architecture, the file and object based storage segment dominated the AI powered storage market in 2021. However, the object storage segment is expected to witness the highest growth rate during the forecast period.