Systems and methods for adaptive fault prediction analysis are described. In one embodiment, the system includes one or more computing components, and one or more hardware controllers. In some embodiments, the storage system includes a storage drive. At least one of the one or more hardware controllers is configured to analyze one or more tolerance limits of a first computing component among the plurality of computing components; calculate a failure metric of the first computing component based at least in part on the analysis of the one or more tolerance limits of the first computing component; analyze sensor data from the first computing component in real time; and update the failure metric based at least in part on the analyzing of the sensor data.