AI Powered Storage Market Forecast
WILMINGTON, DE, UNITED STATES, February 9, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global AI powered storage market size generated $15.6 billion in 2021, and is projected to reach $162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.
The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Rising demand of secured data storage and real-time updating from different sources has increased the adoption of AI powered storage. AI powered storage optimizes and automates the workflow making it easier for enterprises to store huge amount of critical data. Moreover, the scalability offered by AI can easily fulfill the rising demand of real-time data processing. This further propels the Artificial Intelligence Powered Storage Market growth.
Rise in adoption of cloud-based application and services and adoption of robotics in warehousing is boosting the growth of the global AI powered storage market. However, lack of professionals in AI hardware and irregularity of AI algorithms is hampering the AI powered storage market growth. On the contrary, increase in demands of Al for high performance computing data is expected to offer remunerative opportunities for expansion during the AI powered storage market forecast.
Rise in acceptance of artificial intelligence services and surging data volumes to boost the global AI powered storage market trends. Region-wise, the North American region held the major market share in 2021, holding more than two-fifths of the global AI powered storage market share and is expected to maintain its leadership status during the forecast period.
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COVID-19 Scenario:
The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global AI powered storage market, owing to total shutdown of manufacturing units across the globe.
However, a large number of enterprises adopted AI-powered storage systems for real-time storage of data to expand their business along with reducing turnaround time. This led to a massive growth of the global market during the COVID-19 pandemic.
Region-wise, the North American region held the major market share in 2021, holding more than two-fifths of the global AI powered storage market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific AI powered storage market is forecast to record the fastest CAGR of 28.3% during the assessment period. The report also analyses other regions such as Europe and LAMEA.
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The key players analyzed in the global AI powered storage market report include Advanced Micro Devices, Inc., Amazon Web Services, Inc., Cisco Systems, Inc., Dell Technologies Inc., Fujitsu Limited, Google, Inc., Hitachi, Ltd., The Hewlett Packard Enterprise Company, Intel Corporation, Lenovo Group Limited, Micron Technology, Inc., Microsoft Corporation, NetApp, Inc., The International Business Machines Corporation, Pure Storage, Samsung Electronics Co., Ltd., and Toshiba Corporation.
The report analyzes these key players in the global AI powered storage market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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