BFSI Sector is Expected to Dominate the Global AI Powered Storage Market
One of the key drivers of Al-powered storage market
is the growth in adoption of cloud-based applications & services.
According
to TechSci Research report, “AI Powered Storage Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”. The Global AI Powered Storage is anticipated to project
robust growth in the forecast period with a CAGR of 6.80% through 2029. One of the key drivers of
Al-powered storage market is the growth in adoption of cloud-based applications
& services. Cloud based applications have carried a massive revolution in
the business industry, particularly during COVID-19 pandemic. Many companies
are adopting cloud-based platforms as it bids limitless flexibility &
reliability. Moreover, it proposals great adaptability & is eco-friendly
which further pushes the AI powered storage market growth. The Al- powered
storage is widely adopted due to the digitalization of the markets after the
covid-19. Companies are shifting all their workload to cloud based applications
to ease distant working. Over the past few years, cloud migration has seen
widespread global adoption, but recent trend to remote working has caused
companies to rely more than ever on cloud services & apps. Massive volumes
of data are required for artificial intelligence, which the cloud environment
must process in real time and store for later use. This requires a high
performance, adaptable, and flexible data storage system. The popularity of
AI-powered storage is rising as demand for machine learning and artificial
intelligence rises. Advanced analytics are used by AI-powered storage, which
raises the demand for corporate infrastructure. Additionally, it is important
for the uptake of connected devices and digitization.
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over XX market data Figures spread through XX Pages and an in-depth TOC on " Global AI Powered Storage Market"
Artificial
intelligence needs a large amount of data that could be processed in real-time
and stored for future use in a cloud environment. Therefore, it requires a data
storage solution for flexibility, scalable, and high performance.
AI
and ML applications require data for functioning. The significant amount of
data power training simulations and models that support decision-making and
offer more effective and precise insights.
The
AI-powered storage provides quick access from the data center to the cloud
edge, as AI is based on cloud infrastructure. Storage, data collection, and
applications could be spread across the cloud environment. AI storage enables
quick access to data in the whole cloud, no matter whether it is stored or
moved. The automation-led AI storage offers dynamic management of the file and
resource permissions. It includes identity and access management
configurations, as well as routing, load balancing plans, and processing
directives. AI storage automates such functions for streamlining the operations
of the system. The workloads may fluctuate over time, therefore, the workloads
base on AI storage needs to cater to the demand without impacting them. In such
an application, the storage might get completely consumed. Better storage with
excess capacity can alleviate the scaling and slowdown issues. AI applications
offer cost-effective solutions through proper scalability and bulk storage
management. It mitigates the need for purchasing, and resource maintenance,
that is no longer needed. GPU-Accelerated Hardware: The quick data processing
from storage to AI and machine learning algorithms require hardware for
managing numerous parallel computing tasks. GPU acceleration-based cloud
infrastructure enables such tasks for expanding storage, transmission, and
processing of massive data required for supporting AI applications.
High-Performance
Computing Clusters: HPC clusters include file systems, servers, and shared
storage for quick scaling and supporting the heavy workloads associated with
machine learning and artificial intelligence. A better configured HPC cluster
that quickly provides local storage for the preparation of data for huge AI
algorithms for building advanced artificial intelligence.
NVMe
Flash Storage: Due to huge workloads, it is crucial to have quick storage
retrieval. NVMe storage is located close to the GPU function as the real-time
storage medium for AI applications that require quick access to data.
Solid-State
Hard Drive: AI storage facilitates the longer-term storage located outside of
NVMe flash. Moreover, systems require to shift away from spinning disk media to
storage applications located outside of archives. The solid-state storage
facilitates another layer of data access that reduces the access time and
enhances efficiency.
Key
market players in the Global AI Powered
Storage Market are following:-
- Intel Corporation
- NVIDIA Corporation
- IBM
- Samsung Electronics
- Pure Storage
- NetApp
- Micron Technology
- CISCO
- Toshiba
- Hitachi
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“AI
applications provide system analytics and business insights for huge cloud and
IT infrastructure. Moreover, the AI storage optimizes HPC and hardware for
developing more precise, responsive, insightful AI applications that reflects
real-time data changes.. Moreover, the availability of real-time accurate data
helps AI algorithms report and inform the administrators about the system
problem. The presence of data and computing resources might help in precise
reporting. The improved storage functions by utilizing automation for supporting
key management features. Moreover, automation makes AI storage infrastructure
more responsive to problems. It consists of documentation, responding to issues
enabled by data transmissions, routing failovers in HPC clusters, and well as
automated backups. AI-powered storage provides an agility level that can-not
matches human-administered systems. It enhances the storage for intense
workloads to provide it to machine learning. Such systems quickly respond to
scaling demands, real-time issues, and system adjustments caused by technical
issues.
Therefore,
AI-powered storage is widely adopted for catering to the workload demands, with
quick access to massive amounts of data in real-time, without hindering
workloads. said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management
consulting firm.
AI Powered
Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast
Segmented By Offerings (Hardware, Software, Storage System, Storage Architecture,
and Storage Medium), By End-User (BFSI, Healthcare, Media & Entertainment,
Retail, Manufacturing, Telecommunication), By Region, Competition 2019-2029. has evaluated the future growth
potential of Global AI Powered Storage Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global AI Powered Storage Market.
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