The 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%. Major factors driving the AI-powered storage market growth are 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. 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.
Intel Corporation (US), NVIDIA Corporation (US), IBM (US), Samsung Electronics (South Korea), Pure Storage (US), NetApp (US), Micron Technology (US), Dell Technologies (US), HPE (US), and CISCO (US) are a few major players in the AI-powered storage market.
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Top 2 Players in AI-powered Storage Market:
Dell Technologies Inc (US)
Dell Technologies is an end-to-end technology provider with a comprehensive portfolio of IT hardware, software, and service solutions for traditional infrastructure and emerging, multi-cloud technologies that enable digital transformation. The company primarily operates through three business segments— Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and Vmware. Infrastructure Solutions Group provides a comprehensive portfolio of advanced storage solutions, which includes traditional storage solutions as well as AI-powered storage solutions such as all-flash arrays, scale-out files, object platforms, and software-defined solutions. Dell offers end-to-end data center services that help standardize, automate, support, and accelerate business growth. It also provides intelligent storage systems to enable intelligent data centers, with a tangible target to reducing business process cycle times and improving productivity through faster data processing and greater flexibility and elasticity. Dell has moved its hyper-converged appliance portfolio onto new hardware, specially designed for hyper-converged infrastructure (HCI).
Hewlett Packard Enterprise (HPE) (US)
HPE is ranked second in the AI-powered storage market. It offers a variety of storage platforms for enterprises and small- and medium-scale business environments, which include converged and hyper-converged storage, cloud storage, and other virtualization platforms. The company offers software-defined storage and cloud storage systems for addressing storage challenges in this market. It also provides a variety of SAN and NAS systems. The company adopts the go-to-market strategy for extending the existing portfolio of hardware, software, and services. With storage offerings that are AI-driven and built for cloud environments with as-a-service consumption and flexible investment options, HPE provides workload storage solutions.
The company operates through 6 business segments—Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems, Global Financing, and others. The Systems business segment of the company provides servers, enterprise platforms for integrating data, power systems designed for big data and enterprise AI. The storage systems portfolio consists of a broad range of flash storage, disk, and tape storage solutions. The company’s recent patents are focused on cognitive solutions and cloud platforms. Its data storage products and solutions allow clients to retain and manage rapidly growing, complex volumes of digital information.
AI-Powered Storage Market by Offering (Hardware, Software), Storage System (DAS, NAS, SAN), Storage Architecture (File & Object-Based Storage), Storage Medium (SSD, HDD), & End User (Enterprises, CSP, Government, Telecom) - Global Forecast to 2024
See Also :
Next-Generation Data Storage Companies
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