The Global AI Powered Storage Market is Predict to reach $66.5 Billion by 2028, at a CAGR of 24.5%

Published Date: 31-Jan-2023

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AI Powered Storage Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global AI Powered Storage Market size is expected to reach $66.5 billion by 2028, rising at a market growth of 24.5% CAGR during the forecast period.

The Hardware market is exhibiting a CAGR of 23.4 % during the forecast period. This is because it is anticipated that digitization will progress and pick up speed in the wake of the COVID-19 pandemic.

The File & Object Based Storage market generated the high revenue share in the Global AI Powered Storage Market by Storage Architecture in 2021, achieving a market value of $42.6 billion by 2028. Users can readily identify and click on a desired file when there are a small to moderate number of files stored, and the file that contains the data opens as a result of employing file storage. When the user is done editing the file, they may choose to save it in the same place or in a new one.

The Direct Attached Storage Market has shown the growth rate of 24% during the forecast period. The direct attached storage (DAS) is linked directly to the equipment that needs the data. Connectivity issues and congestion bottlenecks in the network are less of a concern here. Computer systems equipped with their own DAS are all set to be used.

The Hard Disk Drive market is leading the Global AI Powered Storage Market by Storage Medium in 2021, achieving a market value of $43.2 billion by 2028. Hard disc drives make use of a systematic rotating pattern that is organized into tracks. These tracks are then divided into smaller sections that are referred to as sectors. It is evident that the cost of producing HDDs is much lower than the cost of producing other types of hard drives, and because this cost is determined per megabyte, HDDs typically cost less than different types of hard drives.

The Cloud Service Providers market is estimated to witness a CAGR of 24.8% during (2022 - 2028). Regarding speed and dependability, cloud service providers come out on top because of their wide network of data centers. Even larger corporations like Microsoft and Amazon Web Services (AWS) have many data centers around the globe.

The North America market dominated the Global AI Powered Storage Market by Region in 2021, achieving a market value of $23.5 billion by 2028. The Europe market is expected to witness a CAGR of 24.2% during (2022 - 2028). Additionally, The Asia Pacific market is expected to witness a CAGR of 25.4% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc. (, Inc.), Google LLC (Alphabet Inc.), Cisco Systems, Inc., Hewlett-Packard Enterprise Company, Intel Corporation, Dell Technologies, Inc., Lenovo Group Limited, NetApp, Inc.

Global AI Powered Storage Market Segmentation

By Component

  • Hardware
  • Software

By Storage Architecture

  • File & Object Based Storage
  • Object Storage

By Storage System

  • Direct Attached Storage
  • Network Attached Storage
  • Storage Area Network

By Storage Medium

  • Hard Disk Drive
  • Solid State Drive

By End User

  • Enterprises
    • BFSI
    • Manufacturing
    • Media & Entertainment
    • Healthcare
    • Consumer Goods & Retail
    • Others
  • Cloud Service Providers
  • Telecom Companies
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • IBM Corporation
  • Microsoft Corporation
  • Amazon Web Services, Inc. (, Inc.)
  • Google LLC (Alphabet Inc.)
  • Cisco Systems, Inc.
  • Hewlett-Packard Enterprise Company
  • Intel Corporation
  • Dell Technologies, Inc.
  • Lenovo Group Limited
  • NetApp, Inc.

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Related Reports:

North America AI Powered Storage Market Future Scope & Opportunities 2022-2028

Europe AI Powered Storage Market Size & Growth Forecast 2022-2028

Asia Pacific AI Powered Storage Market Size, Share & Industry Outlook to 2028

LAMEA AI Powered Storage Market Growth, Trends & Forecasts 2022-2028

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