Global AI-Powered Storage Market By Storage System (NAS, DAS, SAN), By Offering (Hardware, Software), By Storage Medium (SSD, HDD), By End-Users (Telecom, BFSI, Government, Entertainment), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Nowadays, AI will be increasingly employed to create intelligent data location selections. AI-driven solutions will be able to identify where data should be kept and how much performance to offer, based on information such as telemetry data and metadata. This will also aid in the offloading of administrative and physical tasks related to data placement. As a result, improved capacity planning is possible.

AI-powered storage is a smart storage system that employs artificial intelligence to continually learn and adapt to its hybrid cloud environment in order to better manage and serve data.

It is available as a virtual appliance, on-premises hardware, or as a cloud service. With AI-powered storage, you can optimize data throughout its life cycle and move it to where it is required. Organizations can analyze data intelligently and rapidly using AI-powered storage, which provides instant insights.

Data intake, machine learning training, and inference, which is a step of lending insights, are the three phases of AI-powered storage. It also protects data and encrypts it, thereby reducing the risk of a security breach.

As a result, they’re employed in industries including telecommunications, banking and financial services, government, entertainment, and cloud service providers. The worldwide AI-powered storage industry is growing rapidly and is anticipated to continue to do so in the coming years.

Detailed Segmentation

Based on Storage System:

• Network Attached Storage (NAS)
• Direct Attached Storage (DAS)
• Storage Area Network (SAN)

Based on Offering:

• Hardware
• Software

Based on Storage Medium:

• Solid State Drive (SSD)
• Hard Disk Drive (HDD)

Based on End-Users

• Telecom
• BFSI
• Government
• Entertainment
• Other End-Users

Based on Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

The increased use of cloud-based services and apps, as well as a spike in the number of connected devices, are elements that are complementary to this industry’s economic progression. Furthermore, it enables flexible data transfer between corporate and IT infrastructures, allowing businesses to operate with large amounts of unstructured data. Additionally, as these systems are very adaptable and scalable, they are widely used in end-user sectors such as banking, healthcare, and the entertainment industry among others.

The BFSI industry is registering an increase in the use of AI-powered storage systems due to the requirement for faster turnaround times, personalized customer experiences, error-free back-end processes that run without human interaction, as well as for compliance and security purposes. Presently, software makes loan decisions based on accessible data available through AI-powered storage systems, which has additional information about the borrower, in addition to a background check and existing credit score.

Concerns about data privacy in cloud and server-based services is a major stumbling block to this market’s expansion. This industry’s revenue growth may be hampered due to a lack of technically qualified employees in AI hardware and the irregularity of AI algorithms.

The increasing government regulations and compliances are prominent factors lending in adoption of advanced analytics. This has resulted in a spike in the use of high-level data storage systems, in turn boosting this market’s revenue growth of this industry.

Competitive Landscape

• Intel Corporation
• Enmotus
• NVIDIA Corporation
• IBM
• Samsung Electronics
• Pure storage
• NetApp
• Micron Technology
• Dell Technologies
• Toshiba
• CISCO

Key developments

• In Dec. 2020, Hitachi Ltd. has a subsidiary called Vantara. It’s the only system that guarantees 100 percent data availability and includes cross-platform AI-powered analytics and IT automation applications. Customers gained agility, better productivity, and lower operational expenses as a result of these AI-powered storage systems, thereby resulting in laying the foundation for modern-day data centers.
• In Sept. 2020, Enmotus, an industry leader in AI-powered storage technology, announced the launch of FuzeDrive SSD, this market’s first AI-powered SSD. FuzeDrive combines high endurance static SLC and QLC on the same M.2 board, resulting in large capacity storage that performs better and lasts longer in real-world applications. Based on the company’s business server technology, artificial intelligence analyzes user patterns and automatically transfers active and write-intensive data to the SLC section of the drive. The SSD self-optimizes to ensure that heavy or often used storage traffic from programs or the operating system are sent to and from the SLC, while the QLC is utilized to store less frequently used or dormant games or large amounts of data, in turn reducing the QLC’s endurance levels.