Press release
AI-Powered Storage Market to Hit USD 162.5 Billion by 2031, Growing at 26.7% CAGR
The AI powered storage market is gaining rapid traction as organizations face exponential data growth from AI, IoT, cloud, and edge computing workloads. Traditional storage systems struggle with scalability, latency, and manual management, creating demand for intelligent storage solutions that can autonomously optimize data placement, performance, and capacity.
AI-powered storage leverages machine learning algorithms to predict workloads, automate tiering, reduce downtime, and enhance data protection. As enterprises shift toward data-centric and AI-driven business models, intelligent storage is becoming a critical foundation for digital transformation across industries.
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Market Dynamics
One of the primary growth drivers is the surge in unstructured data generated from AI applications, video analytics, and connected devices. AI-powered storage helps enterprises efficiently manage this data by dynamically allocating resources and improving data accessibility.
The rising adoption of cloud and hybrid IT environments is another key factor. Organizations require storage systems that can seamlessly operate across on-premise and cloud infrastructures, and AI-enabled storage provides predictive analytics and automated orchestration to support these complex environments.
Cost optimization is also influencing market growth. AI-powered storage reduces operational expenses by minimizing manual intervention, improving storage utilization, and preventing over-provisioning through intelligent forecasting.
However, high initial deployment costs and integration complexity act as restraints, particularly for small and mid-sized enterprises. Concerns related to data privacy and AI model transparency can further slow adoption in regulated industries.
Despite these challenges, increasing investments in AI infrastructure and growing awareness of long-term efficiency benefits are expected to create significant growth opportunities for market players.
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Segment Overview
The AI powered storage market share is segmented based on component, storage system, storage architecture, storage medium, end user, enterprise type, manufacturing sector, and region. By component, the market is bifurcated into hardware and software. Based on storage system, it is classified into direct-attached storage, network-attached storage, and storage area network. By storage architecture, the market is divided into file and object-based storage and object storage. In terms of storage medium, it is segmented into hard disk drives and solid state drives.
On the basis of end user, the market is segregated into enterprises, government bodies, cloud service providers, and telecom companies. The enterprise segment is further categorized into BFSI, healthcare, media and entertainment, retail, consumer goods, manufacturing, and others. The manufacturing segment is sub-segmented into food & beverages, industrial machinery & heavy equipment, high-tech & consumer electronics, automotive, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on storage architecture, the file and object-based storage segment accounted for the largest share of the AI powered storage market in 2021 and is expected to maintain its dominance throughout the forecast period. This growth is primarily driven by the rapid increase in data generation across developing economies in the Asia-Pacific region, including China, Japan, and India.
However, the object-based storage segment is projected to register the highest growth rate during the forecast period. This growth can be attributed to increasing data complexity, rising security threats to business systems, and the growing demand for scalable and efficient data management solutions, leading to strong adoption across industries.
Regional Analysis
Regionally, North America dominated the AI powered storage market in 2021, owing to advanced technological developments and rapid digital transformation across industries, which have increased the adoption of AI-powered storage solutions to safeguard critical organizational data. In contrast, Asia-Pacific is anticipated to witness the fastest growth during the forecast period, driven by rising cyber threats, expanding data center infrastructure, and a rapid shift toward cloud-based platforms across the region.
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Competitive Analysis
This report gives an in-depth profile of some key AI Powered Storage Industry players in the AI powered storage market include Advanced Micro Devices, Amazon Web Services, CISCO, Dell Technologies, Fujitsu, Google, Hitachi, HPE, Intel Corporation, Lenovo, Micron Technology, Microsoft, NetApp, IBM, Pure Storage, Samsung Electronics, and Toshiba. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the AI powered storage industry globally.
Key Findings of the Study
• By component, the hardware segment dominated the AI powered storage market in 2021. However, the software segment is expected to exhibit significant growth during the forecast period.
• On the basis of storage system, the direct attached storage segment dominated the AI powered storage market in 2021.However, the network attached storage segment is expected to witness the highest growth rate during the forecast period.
• On the basis of storage architecture, the file and object based storage segment dominated the AI powered storage market in 2021.However, the object storage segment is expected to witness the highest growth rate during the forecast period.
• On the basis of storage medium, the hard disk drive segment dominated the AI powered storage market in 2021.However, the solid state drive segment is expected to witness the highest growth rate during the forecast period.
• On the basis of end-user, enterprise segment dominated the AI powered storage market in 2021.However, the government bodies segment is expected to witness the highest growth rate during the forecast period.
• Region-wise, the AI powered storage market analysis was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.
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