Increasing data volume, advancements in AI and ML, demand for real-time analytics, and growth of edge computing and IoT are driving AI-powered storage market.
PORTLAND, OREGON, UNITED STATES, June 30, 2023/EINPresswire.com/ — AI Powered Storage Market Statistics highlight robust growth, with increasing adoption of ai and ml technologies for efficient data management and analytics. The market for AI-powered storage was valued at $15.6 billion in 2021, and it is anticipated to increase to $162.5 billion by 2031, at a CAGR of 26.7%.
The popularity of AI-powered storage has expanded in response to the rising demand for secure data storage and real-time updating from various sources. Enterprises can store vast quantities of important data more easily thanks to AI-powered storage, which automates and optimises the workflow. Additionally, AI’s scalability makes it simple to meet the growing demand for real-time data processing. The expansion of the artificial intelligence-powered storage market is further fueled by this.
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The exponential growth of data generated by organizations is a significant driver for AI-powered storage solutions. As the volume, variety, and velocity of data continue to increase, traditional storage methods struggle to efficiently manage and extract value from this data. AI-powered storage systems leverage advanced analytics and machine learning algorithms to effectively handle and process large and complex datasets, enabling organizations to gain valuable insights and make data-driven decisions.
The continuous advancements in AI and machine learning technologies are driving the adoption of AI-powered storage solutions. These technologies enhance data management capabilities by automating processes, optimizing storage efficiency, and enabling intelligent data classification and retrieval. AI-powered storage solutions can autonomously analyze and categorize data, identify patterns, and provide recommendations for storage optimization and data lifecycle management.
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Businesses increasingly require real-time analytics and predictive insights to gain a competitive edge. AI-powered storage solutions offer the capability to process and analyze data in real-time, enabling organizations to make informed decisions quickly. By leveraging AI algorithms, storage systems can detect patterns, identify anomalies, and provide predictive analytics, allowing proactive measures for improved operational efficiency, risk mitigation, and customer satisfaction.
The growth of edge computing and the Internet of Things (IoT) generates massive amounts of data that need to be efficiently stored and processed. AI-powered storage systems enable organizations to handle the data deluge from edge devices by providing intelligent data management capabilities at the edge. These solutions offer real-time data analysis, storage optimization, and efficient data transfer to central repositories, enabling organizations to leverage the full potential of edge computing and IoT applications.
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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.
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David Correa
Allied Analytics LLP
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