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How Are Cloud-Based Services Driving AI-Powered Storage Market Growth?

Categories under the storage medium segment of the AI-powered storage market include hard disk drive and solid-state drive. Under this segment, the hard disk drive category is expected to generate the higher revenue during the forecast period. This can be attributed to the affordability of hard disk drives. A hard disk drive is a memory hardware device that controls the reading, writing, and positioning of the hard disk that is used for data storage.

Further, the solid-state drive category is bifurcated into all-flash array and hybrid-flash array. The AI-powered storage market is highly competitive due to the presence of multiple players. To march ahead of their competitors and expand their customer base, market players are focusing on acquisitions. For example, in 2019, Pure Storage Inc., a data storage product provider, acquired Compuverde AB, a file software solution developing company.





With this agreement, the former expanded its file-based storage system product portfolio and improve global-scale storage management and unstructured data management. Some of the players in the AI-powered storage market are Dell Technologies Inc., International Business Machines Corporation, NetApp Inc., Toshiba Corporation, Seagate Technology PLC, Hewlett Packard Enterprise Company, Intel Corporation, Advanced Micro Devices Inc., Datadirect Network Inc.,

Other players in the AI-powered storage market, including NVIDIA Corporation, Samsung Electronics Co. Ltd., Lenovo Group, Cisco Systems Inc., Tintri Inc., Western Digital Corporation, Micron Technology Inc., Western Digital Corporation, and Fujitsu Limited, are also focusing on such strategic measures to stay ahead in the competition. Thus, the increasing penetration of connected devices and surging use of cloud-supported services and applications will augment the demand for AI-powered storage systems in the forecast years.

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