Global AI Powered Storage Market Size to worth USD 217.35 Billion by 2033: Market Statistics Report

Global AI Powered Storage Market Size to worth USD 217.35 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global AI Powered Storage Market Size is Expected to Grow from USD 23.24 Billion in 2023 to USD 217.35 Billion by 2033, at a CAGR of 25.05% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global AI Powered Storage Market Size, Share, and COVID-19 Impact Analysis, By Storage System (Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN)), By Storage Architecture (File Based and Object Based), By Storage Medium (Hard Disk Drive (HDD) and Solid State Drive (SSD)), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

AI powered storage refers to the storage system that incorporates artificial intelligence (AI) capabilities to perform tasks or make decisions typically requiring human intelligence. The storage system frequently includes technologies such as data reduction, including deduplication and compression, and tiering to maximize effectiveness and cut expenses. It focuses on data security, using access control and encryption to safeguard private data. AI-powered storage solutions are in high demand due to factors like massive data volume growth, the requirement for global business infrastructure to update their storage architecture, the expanding use of cloud-based services, and the growing need for AI in HPC data centers. The increasing uptake of cloud-based services that provide extensive adaptability and environmental friendliness is bolstering the market growth. On the contrary, the lack of experienced professionals and knowledge of AI hardware are hindering the AI powered storage market.

The direct attached storage (DAS) segment held the largest revenue share of the AI powered storage market in 2023.

Based on the storage system, the global AI powered storage market is divided into direct attached storage (DAS), network attached storage (NAS), and storage area network (SAN). Among these, the direct attached storage (DAS) segment held the largest revenue share of the AI powered storage market in 2023. The growing demand for high-speed data access and low latency solutions that enable efficient processing of AI workloads are driving the market in the data attached storage (DAS) segment.

The file based segment dominated the market with the largest market share in 2023.

Based on the storage architecture, the global AI powered storage market is divided into file based and object based. Among these, the file based segment dominated the market with the largest market share in 2023. Applications like AI-driven image identification and classification engines are used for file-based architecture. The significant data utilization across standard file protocols and file-based storage architecture by the businesses are driving the market in the file based segment.

The hard disk drive (HDD) segment dominated the global AI powered storage market in 2023.

Based on the storage medium, the global AI powered storage market is divided into hard disk drives (HDD) and solid state drives (SSD). Among these, the hard disk drive (HDD) segment dominated the global AI powered storage market in 2023. Because HDDs are capable of saving data quickly, they are frequently utilized to support both data and artificial intelligence (AI) workloads and keep up with AI applications.

North America is projected to hold the largest share of the global AI powered storage market over the forecast period.

North America is projected to hold the largest share of the global AI powered storage market over the forecast period. The growing technical breakthroughs and digitalization in the industry led to the implementation of AI-powered storage solutions for protecting data, thereby driving the market for AI powered storage. Further, the presence of key market players and the availability of trained professionals are all contributing to driving the market growth.

Asia Pacific is predicted to grow at the fastest CAGR in the AI powered storage market over the forecast period. The increasing use of robotics and demand for cloud-based services are contributing to driving the market growth. AI-powered storage system use is encouraged by Chinese government initiatives. Additionally, a lot of digital data is being produced by the expanding market for connected devices.

Competitive Analysis

Major key players in the AI powered storage market include NVIDIA Corporation, Intel Corporation, Pure Storage, Inc., Infortrend Technology Inc., Huawei Technologies Co., Ltd., IBM Corporation, NetApp, Hewlett Packard Enterprise Development LP, Dell Inc., Micron Technology, Inc., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2023, Pure Storage, the IT pioneer that delivers the world’s most advanced data storage technology and services, advanced its Evergreen portfolio with the introduction of a first-of-its-kind commitment to pay its customers’ power and rack space costs for the Evergreen//One Storage-as-a-Service (STaaS) and Evergreen//Flex subscriptions.

•  In July 2023, Lenovo announced its next wave of data management innovation with new ThinkSystem DG Enterprise Storage Arrays and ThinkSystem DM3010H Enterprise Storage Arrays, designed to make it easier for organizations to enable AI workloads and unlock value from their data.

• In March 2023, NVIDIA announced NVIDIA DGX Cloud, an AI supercomputing service that gives enterprises immediate access to the infrastructure and software needed to train advanced models for generative AI and other groundbreaking applications.

• In October 2022, IBM announced that it would add Red Hat storage product roadmaps and Red Hat associate teams to the IBM Storage business unit, bringing consistent application and data storage across on-premises infrastructure and cloud.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global AI powered storage market based on the below-mentioned segments:

Global AI Powered Storage Market, By Storage System

• Direct Attached Storage (DAS)
• Network Attached Storage (NAS)
• Storage Area Network (SAN)

Global AI Powered Storage Market, By Storage Architecture

• File Based
• Object Based

Global AI Powered Storage Market, By Storage Medium

• Hard Disk Drive (HDD)
• Solid State Drive (SSD)

Global AI Powered Storage Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa