Attractive Opportunities in AI-Powered Stoarge Market

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MarketsandMarkets Presents
AI-Powered Storage Market by Offering (Hardware,
Software), Storage System (DAS, NAS, SAN),
Storage Architecture (File Object-Based
Storage), Storage Medium, End User, and Region
(North America, Europe, APAC, RoW) - Global
Forecast to 2024 The global AI-powered storage
market is expected to grow from USD 10.4 billion
in 2019 to USD 34.5 billion by 2024 growing at a
CAGR of 27.1
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MarketsandMarkets Presents
In Terms of Offering, AI-Powered Storage Market
for Hardware is Expected to Hold Largest Market
Size in 2024 The market for the hardware segment
has been further segmented into storage medium
and other hardware. Storage medium include
solid-state drive (SSD) and hard disk drive
(HDD). Other hardware include processors
including CPU and GPU. NVIDIA (US), Intel (US),
Micron (US), and Samsung (South Korea) are a few
of the companies that develop hardware needed for
AI applications. The segment is expected to
continue to lead the AI-powered storage market,
in terms of size, in the coming years owing to
the rising demand for hardware devices with high
computing power to run various AI
algorithms/solutions.
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MarketsandMarkets Presents
Market for File- and Object-Based Storage (Fobs)
Holds Largest Size and is Expected to Grow at
Highest Cagrduring Forecast Period File-based
architecture stores information in a hierarchical
structure. This storage shows uniformity while
storing the data as well as retrieving it in the
form of files and folders. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id29450656 File storage manages
the layout, structure of files, and directories
cataloging structure, which contains references
to other computer files on physical storage.It is
used to establish a client/server relationship
over NAS. File level storage offers simplicity
when there is a common platform to place raw
files. File-level storage is usually used in NAS
devices, which offer comparatively more storage
space.
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MarketsandMarkets Presents
Key players operating in the AI-powered storage
market are Intel Corporation (US), NVIDIA
Corporation (US), IBM (US), Samsung Electronics
(South Korea), Pure Storage (US), NetApp (US),
Micron Technology (US), CISCO (US), Advanced
Micro Devices (AMD) (US), Toshiba (Japan),
Hitachi (Japan), Lenovo (China), Dell
Technologies (US), HPE (US). Other key players
include DataDirect Network (US), Seagate
Technology PLC (US), Flextronics International
(US), Western Digital (US), Fujitsu (Japan), and
Tintri (US). Market players have adopted various
strategies such as organic and inorganic to
expand their global presence and increase their
market shares.
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MarketsandMarkets Presents
In North American AI-Powered Storage Market, US
is Largest Contributor, in Terms of Market
Size The US is home to leading data storage
solution providers such as Dell Technologies,
NetApp, Hewlett-Packard Enterprise Company,
Hitachi Data Systems, and others. It has also
been the largest economy in the world, which has
high disposable income leading to increased
demand for modern technologies in the country,
the investments in financial AI in the United
States tripled from 2013 to 2014 to a total of
USD 12.2 billion and also the AI deployment in
the country gives them tremendous opportunities
for pilot testing and future deployment. All
these factors support the growth of the
AI-powered storage market in the country.
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MarketsandMarkets Presents
In Terms of Offering, AI-Powered Storage Market
for Hardware is Expected to Hold Largest Market
Size in 2024 The market for the hardware segment
has been further segmented into storage medium
and other hardware. Storage medium include
solid-state drive (SSD) and hard disk drive
(HDD). Other hardware include processors
including CPU and GPU. NVIDIA (US), Intel (US),
Micron (US), and Samsung (South Korea) are a few
of the companies that develop hardware needed for
AI applications. The segment is expected to
continue to lead the AI-powered storage market,
in terms of size, in the coming years owing to
the rising demand for hardware devices with high
computing power to run various AI
algorithms/solutions.
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MarketsandMarkets Presents
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