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Global AI-Powered Storage Market is Expected to Grow from USD 10.4 Billion in 2019 to USD 34.5 Billion by 2024; Growing at a CAGR of 27.1%. - ResearchAndMarkets.com

January 1, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 1, 2020--

The “AI-Powered Storage Market by Offering (Hardware, Software), Storage System (DAS, NAS, SAN), Storage Architecture (File & Object-Based Storage), Storage Medium, End User, and Region (North America, Europe, APAC, RoW) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

Massive growth in data volumes need for global enterprise infrastructure to refresh their storage architecture, increasing adoption of cloud-based services, and growing demand for AI in HPC data centers have created a demand for AI-powered storage solutions. Limited AI hardware experts and the lack of data security in cloud and server-based services can be a few restraints for the AI-powered storage market. There are a lot of opportunities for the AI-powered storage market including the growing number of cross-industry partnerships and collaborations and the availability and rapid development of useful data analysis tools. The unreliability of AI algorithms and concerns regarding data privacy are the challenges for the AI-powered storage market.

AI-powered storage market for Network-attached Storage (NAS) is expected to grow at highest CAGR during the forecast period

The demand for evolved NAS systems is increasing in order to cope with the growth of unstructured data. NAS is a dedicated storage device with multiple racks of storage media and is set up onto a dedicated network for storing the data. Scale-out is an improved technique in NAS devices, enabling capacity expansion based on end-users’ requirements. This is achieved with the help of clustered nodes; as a result, there is a reduction in the upgrading cost. Small businesses and medium-sized enterprises are gradually adapting cloud-based NAS storage solutions owing to their features such as the ease of use, automated data backup, simple server setup procedure, and good collaboration.

Healthcare market for enterprises is expected to grow at the highest CAGR during the forecast period

AI in the healthcare ecosystem allows for a multitude of benefits, including automating tasks and analyzing patient data sets to deliver faster healthcare at a lower cost. Healthcare organizations have started improving the storage and management of their data for analytics and AI purposes. New healthcare offerings such as collaborative solutions through mobile devices, video conferencing, and built-in applications lead to the need for the adoption of AI-powered storage systems. The demand for AI-powered storage systems is driven by regulatory mandates for the use of electronic health records, increasing focus on precision medicine, and a strong presence of service providers engaged in developing AI solutions for healthcare.

AI-powered storage market in North America is projected to hold the largest share and market in APAC is expected to grow at the highest CAGR during the forecast period.

This market in North America is further divided into the US, Canada, and Mexico. There is a growing trend of cloud computing, which has increased the economic impact of data center investments made by leading service providers such as Amazon (US), Google (US), and Microsoft (US). Enterprises in North America are increasing their spending on storage infrastructure for AI workloads to gain competitive advantage and increase their business productivity. The presence of other prominent AI technology providers including IBM, NVIDIA, and Intel, is boosting the growth of the AI-powered storage market in this region.

This market in APAC is further divided into China, Japan, India, South Korea and the Rest of APAC. The Rest of APAC primarily includes Australia, New Zealand, Vietnam, and Indonesia. Countries in this region are heavily reliant on manufacturing and can implement automated supply chain optimization, which will generate faster outputs. All these activities will help to generate greater economic output for the countries. Automated transportation can play an important role to boost this market as the elevated levels of congestion can be alleviated through fleet-wide traffic flow control.

Reasons to Buy the Report:

Key Topics Covered:

1 Introduction

1.1 Study Objectives

1.2 Market Definition and Scope

1.3 Study Scope

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Market Breakdown and Data Triangulation

2.4 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in AI-Powered Storage Market

4.2 AI-Powered Storage Market, By Offering

4.3 Market, By End User

4.4 Market, By Storage System

4.5 Market, By Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

6 AI-Powered Storage Market, By Offering

6.1 Introduction

6.2 Hardware

6.2.1 Storage Medium

6.2.1.1 SSD

6.2.1.2 HDD

6.2.2 Other Hardware

6.2.2.1 CPU

6.2.2.2 GPU

6.3 Software

7 AI-Powered Storage Market, By Storage System

7.1 Introduction

7.2 Direct-Attached Storage Systems

7.3 Network-Attached Storage Systems

7.4 Storage Area Network

8 AI-Powered Storage Market, By Storage Architecture

8.1 Introduction

8.2 File- and Object-Based Storage

8.3 Block Storage

9 AI-Powered Storage Market, By Storage Medium

9.1 Introduction

9.2 Hard Disk Drive

9.3 Solid State Drive

10 AI-Powered Storage Market, By End User

10.1 Introduction

10.2 Enterprises

10.3 Government Bodies

10.4 Cloud Service Providers

10.5 Telecom Companies

11 AI-Powered Storage Market, By Region

11.1 Introduction

11.2 North America

11.3 Europe

11.4 APAC

11.5 RoW

12 Competitive Landscape

12.1 Overview

12.2 Market Ranking Analysis

12.3 Competitive Leadership Mapping, 2018

12.4 Competitive Scenario

13 Company Profiles

13.1 Key Players

13.1.1 Dell Technologies

13.1.2 Hewlett Packard Enterprise (HPE) Company

13.1.3 IBM

13.1.4 NVIDIA Corporation

13.1.5 Pure Storage

13.1.6 Intel Corporation

13.1.7 Netapp

13.1.8 Samsung Electronics

13.1.9 Micron Technology

13.1.10 Cisco

13.1.11 Advanced Micro Devices (AMD)

13.1.12 Toshiba

13.1.13 Hitachi

13.1.14 Lenovo

13.2 Right-To-Win

13.3 Other Key Players

13.3.1 Datadirect Network

13.3.2 Seagate Technology PLC

13.3.3 Flextronics International

13.3.4 Western Digital

13.3.5 Fujitsu

13.3.6 Tintri

For more information about this report visit https://www.researchandmarkets.com/r/m6hayb

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE OTHER TECHNOLOGY DATA MANAGEMENT

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PUB: 01/01/2020 08:24 AM/DISC: 01/01/2020 08:23 AM

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