AI Powered Storage Market Size

AI Powered Storage Market size was over USD 23.04 billion in 2023 and is expected to exceed USD 414.76 billion by the end of 2036, witnessing over 24.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of AI powered storage is evaluated at USD 27.63 billion.

The growth of the market can be attributed to the mounting need among organizations to refresh their storage architecture, and increasing volumes of data generated across the globe. Along with these, growing usage of AI powered storage in BFSI industry to provide faster run-around time, and rising demand for AI in high computing centers are also expected to drive market growth in the near future. Furthermore, increasing adoption of cloud-based services, coupled with the escalating number of connected devices globally are projected to offer lucrative opportunities to the AI powered storage market in the near future. It is calculated that the total number of connected IoT devices in the world will grow by 9 percent by the end of 2021 to more than 12 billion active endpoints. There will be an estimated 25 billion connected devices by 2025

Frequently Asked Questions (FAQ)

The major factors driving market growth are mounting need among organizations to refresh their storage architecture, and increasing volumes of data generated.

The market is anticipated to attain a CAGR of ~27% over the forecast period, i.e., 2022 â€“ 2030.

Asia Pacific will provide more business opportunities for market growth owing to the high adoption of latest technologies in the region, especially in the region.

The major players in the market are Intel Corporation, NVIDIA Corporation, IBM Corporation, Cisco Systems, Inc., Dell Technologies, Inc., and others.

AI Powered Storage Market Size