Industry Background:
The global AI-Powered Storage market is expected to witness high demand in the forecasted period due to Immense development in data volumes and increasing adoption of data analytics to enhance the decision-making capabilities. AI-powered storage permit companies to analyze data intelligently and quickly by delivering instant insights. It has three distinct phases such as data ingestion, training using machine learning, and inference which is a stage of providing insights. The utilization of cloud-based services by enterprises to store their data using virtual servers is helping to trigger the demand for the AI-Powered Storage market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Intel Corporation (United States), NVIDIA Corporation (United States), IBM (United States), Samsung Electronics (South Korea), CISCO (United States), Toshiba (Japan), Hitachi (Japan), Lenovo (China), Dell Technologies (United States) and HPE (United States) |
According to AMA, the market for AI-Powered Storage is expected to register a CAGR of 25.1% during the forecast period to 2028. This growth is primarily driven by Massive Growth in Data Volumes and Increasing Government Regulations and Compliances with Regard to Data Generated.
Globally, a noticeable market trend is evident Upsurging Demand for Advanced Storage Architecture in Large-Scale Enterprise Infrastructure
The Data Storage and Management sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Intel Corporation (United States), NVIDIA Corporation (United States), IBM (United States), Samsung Electronics (South Korea), CISCO (United States), Toshiba (Japan), Hitachi (Japan), Lenovo (China), Dell Technologies (United States) and HPE (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Growing market strategies like partnership, agreements, acquisition, and mergers to expand and to produce efficient AI-powered storage by the prominent key players is driving the growth of the market.
Key Developments in the Market:
On 18th June 2020, Intel today introduced its 3rd Gen Intel® Xeon® Scalable processors and additions to its hardware and software AI portfolio, enabling customers to accelerate the development and use of artificial intelligence (AI) and analytics workloads running in the data center, network and intelligent-edge environments.
On 14th MAy 2020, NVIDIA has unveiled NVIDIA DGX™ A100, the third generation of the world’s most advanced AI system, delivering 5 petaflops of AI performance and consolidating the power and capabilities of an entire data center into a single flexible platform for the first time.
Influencing Trend:
Upsurging Demand for Advanced Storage Architecture in Large-Scale Enterprise Infrastructure and Soaring Need for AI in High-Performance Computing Data Centers
Market Growth Drivers:
Massive Growth in Data Volumes and Increasing Government Regulations and Compliances with Regard to Data Generated
Challenges:
Lack of Data Security in Cloud- and Server-Based Services
Restraints:
The Dearth of Expertise for AI Hardware and Unreliability of AI Algorithms
Opportunities:
High Adoption of Data Analytics Tools by Different Industries and Growing Number of Cross-Industry Partnerships and Collaborations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in AI-Powered Storage Market
- Analysis about New Entrants in AI-Powered Storage Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, AI-Powered Storage Study Sheds Light on
The AI-Powered Storage Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the AI-Powered Storage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where AI-Powered Storage industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.