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Market synopsis
The global AI-Powered Storage market is expected to grow from USD 10.71 billion in 2018 to USD 25.05 billion by 2025, at a CAGR of 17.56%, during the forecast period.

AI-powered storage is registering a high demand across the globe owing to factors such as rise in data generated daily, growing adoption of data analytics by various industries to enhance the decision-making capabilities, and increasing compliances and government regulations with regards to data generated. Furthermore, a large number of enterprises have started utilizing cloud-based services to store their data using virtual servers that has further boosted the demand for AI-powered storage systems.

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The global AI-powered storage market has been segmented based on offerings, storage system, storage architecture, storage medium, end use, and region.

By offerings, the market has been segmented into hardware and software. The hardware segment has been further divided into SSD, HDD, CPU, and GPU. The hardware segment dominated the market in 2018. It is also expected to register the highest CAGR during the forecast period.

By storage system, the market has been segmented into direct-attached storage systems, network-attached storage systems, and storage area network. The storage area network segment is expected to account for the largest market share. However, the network-attached storage systems segment is expected to register the highest CAGR during the forecast period. In 2019, Synology—a Taiwanese provider of network-attached storage (NAS) systems—broadened its geographic presence with the launch of four new NAS products.

By storage architecture, the market has been segmented into file storage, object storage, and block storage. The file storage segment is expected to account for the largest market share. However, the block storage segment is expected to register the highest CAGR during the forecast period.

By storage medium, the market has been segmented into hard disk drive and solid-state drive. The hard disk drive segment is expected to account for the largest market share. In 2018, western digital launched a new range of hard drive—Purple—for upcoming Digital Video Recorder and Network Video Recorder systems that feature Artificial Intelligence (AI) capabilities. The affordability of these storage devices is the key reason for its wide adoption. The solid-state drive segment has been further bifurcated into all-flash array and hybrid flash arrays.

By end use, the market has been segmented into BFSI, healthcare, media & entertainment, retail, manufacturing, telecommunication, and others. The BFSI segment is projected to hold the largest market share. However, the telecommunication segment is expected to register a significant CAGR during the forecast period. Telecom communication companies are widely adopting AI technology to enhance customer experience and improve network reliability.

The key players profiled in the global AI-powered storage market research report are Dell Technologies (US), Advanced Micro Devices (US), CISCO (US), HPE Company (US), IBM (US), Toshiba (Japan), Intel Corporation (US), Pure Storage (US), Hitachi (Japan), NVIDIA Corporation (US), Lenovo (China), Samsung Electronics (South Korea), Micron Technology (US), Western Digital (US), and NetApp (US).

Global AI-Powered Storage Market

Source: MRFR Analysis

Segmentation
Based on offerings, the market has been segmented into hardware [SSD, HDD, CPU, and GPU] and software

Based on storage system, the market has been segmented into direct-attached storage systems, network-attached storage systems, and storage area network

Based on storage architecture, the market has been segmented into file storage, object storage, and block storage

Based on storage medium, the market has been segmented into hard disk drive and solid-state drive

Based on end use, the market has been segmented into BFSI, healthcare, media & entertainment, retail, manufacturing, telecommunication, and others.

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Regional Analysis
The global market for AI-powered storage is estimated to grow at a significant rate during the forecast period from 2019 to 2025. The geographical analysis of the AI-powered storage market has been done for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to hold the largest share in the AI-powered storage market from 2019 to 2025. The high concentration of data storage market players, easy availability of proficient technical expertise, and growing penetration of AI in manufacturing, banking, telecom, and healthcare industries are the key drivers of the market.

Asia-Pacific is expected to register the highest CAGR during the forecast period. Adoption of AI technology by small and medium enterprises in the region, rise in demand for cloud-base services, and adoption of robotics in manufacturing industries are the key drivers for the rapid growth in the AI-powered storage market.

Competitive Analysis
The key players have adopted product launches and partnerships as a part of their growth strategy to further increase their share in the global AI-powered storage market. For instance, in 2018, Hitachi Vantara introduced a new storage system—Hitachi Virtual Storage Platform (VSP) systems—that integrates cross-platform AI-powered analytics and IT automation software.

Acquisition is another key growth strategy adopted by manufacturers to enhance their global market presence. For instance, in April 2019, Pure Storage entered into a definitive agreement to acquire Compuverde—a file software solution developing firm. The acquisition is expected to expand Pure Storage company’s file-based storage offerings.

Key players
The prominent players in the global AI-Powered Storage market are Dell Technologies (US), Advanced Micro Devices (US), CISCO (US), HPE Company (US), IBM (US), Toshiba (Japan), Intel Corporation (US), Pure Storage (US), Hitachi (Japan), NVIDIA Corporation (US), Lenovo (China), Samsung Electronics (South Korea), Micron Technology (US), Western Digital (US), and NetApp (US), Datadirect Network (US), Seagate Technology (US), Flextronics International (Singapore), Fujitsu (Japan), and Tintri, Inc. (US).

Intended Audience
System integrators
OEMs/ODMs
Electronic component manufacturers
Resellers and distributors
Consultancy and advisory firms
Consulting firms
Research institutes and organizations
Technology standards organizations
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