The AI-powered storage market in the United States is projected to reach US$ 45.3 billion by 2033, CAGR of 19.4% annually from 2023 to 2033.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 7, 2023 /EINPresswire.com/ -- The AI-powered storage market size reached US$ 16.6 billion in 2022. Demand for the market stood at US$ 21.0 billion in 2023. In the forecast period between 2023 and 2033, demand is poised to exhibit a 20.7% CAGR. Revenue is anticipated to cross around US$ 138.0 billion by the end of 2033.

The AI-powered storage industry is booming due to several crucial trends influencing data management's foreseeable future. One significant development is the growing use of cloud storage and hybrid systems.

Organizations are realizing the advantages offered by cloud storage, including flexibility, cost savings, and access, and are adopting it into their data retention strategy. Organizations can optimize cloud storage consumption, automate data transfer, and assure data security by employing AI technology.

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The rising need for speed analytics and data processing is another significant driver. Organizations require effective and rapid analytics capabilities to gain meaningful insights from the exponential rise in available data.

AI-powered storage solutions might speed up data processing, allowing enterprises to examine data more quickly and make educated choices in real-time. These systems can use machine learning algorithms to find patterns and trends in massive datasets, allowing firms to do predictive analytics.

Another significant development in the AI-powered storage business is the use of machine learning to enhance storage performance and minimize costs. By studying data consumption trends, AI-powered storage systems can dynamically distribute resources, enhance storage performance, and eliminate wasteful expenditures. This increases overall data storage efficiency and assures that enterprises are making the most use of their resources.

AI-driven storage solutions revolutionize traditional storage, enhancing data security and reliability through intelligent, autonomous management, reducing manual intervention.

As AI technologies improve, organizations will likely have increasingly more sophisticated capabilities for managing and storing data. The marriage of AI and storage will transform how businesses manage data, offering enhanced efficiency, cost savings, and efficiency. As the storage industry evolves, enterprises can remain far ahead of the competition by adopting AI-powered solutions for storage and realizing their revolutionary potential.

AI-enhanced storage seamlessly integrates on-premises systems with the cloud, optimizing efficient data management.

These solutions enable organizations to optimize resource allocation, enhance storage performance, and streamline cost-effective data management.

Key Takeaways:

The global AI-powered storage industry propelled at 26.7% CAGR during the historical period from 2018 to 2023.

Demand from the enterprise segment is expected to achieve a CAGR of 20.5% in the assessment period.

By storage system, the storage area network segment is expected to surpass at 20.6% CAGR over the forecast period 2023 to 2033.

The United States is expected to showcase a 19.4% CAGR and attain a market size of US$ 45.3 billion in the review period.

China is expected to exhibit a CAGR of 21.7% and reach a value of US$ 11.8 billion through 2033.

"The AI-Powered Storage Market is poised for significant growth, driven by the increasing demand for advanced data management solutions, the AI-Powered Storage Market is witnessing a transformative surge, with artificial intelligence playing a pivotal role in optimizing storage infrastructure and enhancing data accessibility." - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Drivers and Opportunities:

AI has revolutionized various industries, including storage applications, with powerful solutions that automate tasks, enhancing performance, and strengthening data security.

Smart storage with AI adapts in real time, boosting scalability and reliability. Enjoy flexible data management with machine learning insights!

Leading Key Players:

Intel Corporation
NVIDIA Corporation
IBM
Samsung Electronics
Pure Storage

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For instance,

In June 2023, Pure Storage, situated in the United States, revealed a variety of storage devices aimed primarily towards artificial intelligence projects during its yearly Pure/Accelerate 2023 conference.

In June 2023, Rubrik announced a partnership with Microsoft's Sentinel service and Azure Open AI Services to expedite cyber recovery via the application of artificial intelligence (AI) and Natural Language Processing (NLP).

AI-Powered Storage Market Segmentation:

By Offering:

Hardware
Software

By Storage System:

Direct-attached Storage (DAS)
Network-attached Storage (NAS)
Storage Area Network (SAN)

By Storage Architecture:

File-and Object-based Storage
Object Storage

By Storage Medium:

Hard Disk Drive (HDD)
Solid State Drive (SDD)

By End User:

Enterprises
Government Bodies
Cloud Service Providers
Telecom Companies

By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Authored By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

Have a Look at the Related Reports of the Technology Domain:

Artificial Intelligence (chipsets) Market Growth: It is anticipated to reach US$ 287 billion by 2033, with a 26.4% CAGR growth from 2023 to 2033.

Storage Area Network (SAN) Market Analysis: The global market is set to expand at a CAGR of 3.7% to reach US$ 30,800 million by the year 2033.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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