China - Recent


Storyline:
AI technologies fuel booming demand for data storage in China

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As Chinese companies work to develop artificial intelligence, demand is skyrocketing for data storage solutions including memory banks and solid-state disks.

In south China's Dongguan City, one data storage solution manufacturer says they've seen an uptick in companies needing storage solutions which is keeping their 12 production lines running at full capacity.

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Li Qiliang, Production manager, data storage solution manufacturer:

"We've seen an increase in demand for company data storage products, like memory banks and solid-state disks. Production for automotive-grade and industrial-grade memory chips has been scheduled through September and October."

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Thanks to robust demand from enterprises, plus a surge in the price of memory chips, data storage solution producers have embraced a significant turnaround in performance this year.

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Li Yunzhen, General manager assistant, storage technology company in Shenzhen City, Guangdong Province:

"We noticed a slightly sluggish market in 2023. However, in the first quarter of this year, we've seen a clear upward trend. Our sales in the first quarter increased by 46 percent compared to the same period last year, with products mainly heading to internet companies and cloud service users."

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Industry analysts anticipate strong growth for large-capacity storage systems with their market share expected to surpass 35 percent this year.

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