The global AI-powered storage market revenue was around US$ 25.0 billion in 2023 and is estimated to reach US$ 210.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 26.7% during the forecast period from 2024 to 2032.

AI-powered storage is gaining popularity due to the rising demand for machine learning and artificial intelligence. AI-powered storage uses developed analytics which forms augmented demand for business infrastructure. Also, it plays a vital role in digitization and the adoption of connected devices.

Factors Influencing Market Growth

- The rise of the adoption and applications of cloud-based services and the adoption of robotics in warehousing are augmenting the growth of the AI-powered storage market.

- The irregularity of AI algorithms and the absence of professionals in AI hardware is hindering the growth of the AI-powered storage market.

- The growth in demands of Al for high-performance computing data is anticipated to deliver remunerative opportunities for the development of the AI-powered storage market during the forecast period.

Impact of COVID-19

The impact of COVID-19 pandemic outbreak had a significant influence on the global AI-powered storage market. This is attributed to a total shutdown of production and manufacturing across the world. The global economy was also severely affected by this pandemic which also generated hindrances for many businesses and industries globally. Also, the demand for cutting-edge technologies to reduce remote working conditions is augmented. This further drove new innovative approaches to using artificial intelligence and machine learning.

Regional Analysis

In 2023, North America dominated the global AI-powered storage market in terms of revenue. This is attributed to the rising developments in technology and the digitalization of the market in this region leading to the adoption of AI-powered storage to safeguard vital data of organizations.

Also, Asia-Pacific is anticipated to notice the highest growth in the global AI-powered storage market in the future because of the augmented cyber threats and the rapid change toward cloud-based platforms in the Asia-Pacific region.

Leading Companies

The leading prominent companies profiled in the global AI-powered storage market are:

- Advanced Micro Devices
- Amazon Web Services
- CISCO
- Dell Technologies
- Fujitsu
- Google
- Hitachi
- HPE
- Intel Corporation
- Lenovo
- Micron Technology
- Microsoft
- NetApp
- IBM
- Pure Storage
- Samsung Electronics
- Toshiba
- Other prominent key players

Segmentation Outline

The global AI-powered storage market segmentation focuses on Component, Storage System, Storage Architecture, Storage Medium, End User, and Region.

Segmentation based on Component

- Hardware
- Software

Segmentation based on Storage System

- Direct attached Storage
- Network-attached Storage
- Storage Area Network

Segmentation based on Storage Architecture

- File and Object-Based Storage
- Object Storage

Segmentation based on Storage Medium

- Hard Disk Drive
- Solid State Drive

Segmentation based on End User

- Enterprises
- BFSI
- Healthcare
- Media and Entertainment
- Retail
- Consumer Goods
- Manufacturing
- Others
- Government Bodies
- Cloud Service Providers
- Telecom Companies

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa