AI Powered Storage Market Size and Forecast

The global AI powered storage market size was USD 22.93 billion in 2023, calculated at USD 28.71 billion in 2024 and is expected to reach around USD 217.34 billion by 2033, expanding at a CAGR of 25.22% from 2024 to 2033. The increasing demand for managing vast amounts of enterprise data is driving the demand for the AI powered storage market.

AI Powered Storage Market Key Takeaways

• The North America AI powered storage market size reached USD 8.25 billion in 2023 and is expected to attain around USD 79.33 billion by 2033, poised to grow at a CAGR of 25.40% between 2024 and 2033.
• North America led the AI powered storage market with the largest revenue share of 36% in 2023.
• Asia Pacific is expected to witness the fastest growth in the market during the forecast period.
• By storage system, the direct attached storage (DAS) segment dominated the market with the largest share in 2023.
• By storage architecture, the file-based segment dominated the market with the largest share in 2023.
• By storage medium, the hard disk drive (HDD) segment projected the highest market size in 2023.
• By end-user, the enterprise segment has held a major revenue share of 32% in 2023.

U.S. AI Powered Storage Market Size and Growth 2024 to 2033

The U.S. AI powered storage market size was exhibited at USD 5.78 billion in 2023 and is projected to be worth around USD 55.93 billion by 2033, poised to grow at a CAGR of 25.47% from 2024 to 2033.

North America led the AI powered storage market with the largest market size in 2023. The growth of the market in the region is attributed to the early adoption of artificial intelligence into the end-user industries, which is driving the growth of the AI powered storage market. The higher availability of the major market players that are adopting AI in the storage of vast amounts of data is driving the growth of the market. The rising investment in research and development activities in the further development of AI technologies and research on the use of AI in organizational operations are accelerating the growth of the AI powered storage market in the region.

AI Powered Storage Market Trends

• The Cloud storage is forecasted to increase by 100 zettabytes, and approximately 60% of the organizational data is kept in the cloud.
• 54.62% of the consumers are using three different cloud service providers. Google Drive has about 1 billion users, and Dropbox has over 700 million users claimed.
• As per the IDC reports, the worldwide AI industry, including hardware, software, and services, will reach $900 billion in 2026 with a CAGR of 18.6% in the time period 2022-2026.
• The cloud application market has reached the value of $153.6 billion and is expected to reach $168.6 billion by 2025.
• Nearly 200 zettabytes of data will be stored in the cloud by 2025, as per Cybercrime Magazine.

AI Powered Storage Market Growth Factors

• The rising integration of modern technologies, such as artificial intelligence and machine learning, and various end-use industries, such as banking and finance, healthcare, manufacturing, and others, are driving the growth of the market.
• AI helps in the analysis and storage of vast amounts of organizational data and makes proactive decisions. It helps minimize the threat of data loss, which can actively help several industries store their data efficiently, contributing to the growth of the AI powered storage market.
• The integration of AI storage into the organization enhances operational efficiency, minimizes the risk of human errors, and reduces the manual storage process, which drives the market's growth.
• AI-powered storage also helps secure data and advances security measures, such as real-time threats and anomaly detection, to safeguard sensitive data from cyberattacks.