USD 17.39 billion
Report ID: SQSG45I2011 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 119 | Figures: 77
Network Attached Storage Market size was valued at USD 17.39 billion in 2021 and is poised to grow from USD 20 billion in 2022 to USD 45.52 billion by 2030, growing at a CAGR of 15% in the forecast period (2023-2030).
The growing requirement to access data on the business network and the internet at any time and from any location is one of the main factors driving the network attached storage market. The demand for NAS technology is being fueled by the increasing usage of remote and virtual office settings, business continuity planning, and the requirement to give employees remote access to corporate networks. Confidential data backups are necessary for business operations, and NAS devices are the ideal solution. The backup targets and files to keep copies of the data are the reasons why this technology is being used more frequently. The ability of NAS devices to store redundant copies of data using data compression will enhance their usage.
Another factor fueling the growth of the network attached storage market is the growing reliance of small and medium-sized businesses (SMEs) on digital content kept in a cloud environment. The expansion of the network attached storage market is being propelled by the proliferation of social media content as well as high-speed data transport technologies like 4G and 5G. The requirement for numerous secure data storage systems for applications involving video monitoring drives the market demand. Therefore, small and medium-sized businesses use this solution for pertinent data storage and sharing applications; large organizations use NAS for generic data sharing that is not required for applications, as well as for particular workgroups, departments, and remote offices. However, concerns about data security are preventing the network attached storage market from expanding.
US Network Attached Storage Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 17.39 billion
To get more reports on the above market click here to Buy The Report
The global network attached storage market is segmented based on product type, storage solution, deployment type, end-user, and region. Based on the product type, the network attached storage market is segmented as high-end/enterprise, midmarket, and low-end. Based on storage solution, the network attached storage network attached storage market is segmented as scale-up NAS, and scale-out NAS. Based on deployment type, the network attached storage market is segmented as On-Premise, remote, and hybrid. Based on end-user, the network attached storage market is segmented as BFSI, healthcare, retail & e-commerce, IT & telecom, automotive, and others. Based on region, the network attached storage market is categorized into North America, Europe, Asia-Pacific, and MEA.
Leading players are developing NAS solutions for the mid-market to support industry growth
The network attached storage market share is expected to be dominated by the mid-market. Leading companies are creating cutting-edge mid-market NAS solutions to provide storage options for both businesses and consumers. For instance, the Sun ZFS Storage NAS solution from Oracle Corporation was created for the mid-market. The storage requirements of mid-sized businesses may now operate more effectively and quickly due to these products. Hitachi Ltd’s Vantara, the digital solutions subsidiary, launched the E Series high-performance NVMe flash arrays and HNAS NAS solutions in December 2020. The company also introduced Hitachi Virtual Storage as a Service to help the midsized enterprise customers accelerate into the era of digital platform businesses.
In developing nations like India, China, and Brazil, the growth rate is expected to be highest for low-end products. Additionally, it is projected that the market for high-end business products will continue to expand steadily, with developed regions like North America and Europe accounting for the majority of that increase.
Rising development of scale-out storage solutions aids market growth
Scale-up solutions will hold the highest share of the network attached storage market during the predicted period due to an increase in the need for extra data storage among businesses worldwide.
During the projection period, the scale-out storage solution is projected to increase at the greatest CAGR. The development of more sophisticated scale-out solutions, which enable higher performance and employ improved efficiency and agility, will lead to this. For instance, in July 2021, Infortrend Technology Inc. launched a scale-out NAS SSD U.2 solution for the EonStor CS data storage family. The new scale-out solution provides high performance for low latency workloads such as high-performance computing, media & entertainment, big data, and others.
The hybrid segment is expected to record the highest CAGR in the network attached storage market during the forecast period
During the projected period, the hybrid segment is expected to experience the greatest CAGR in the network attached storage market. The trend toward such deployment approaches is growing as businesses realise how important it is to maintain a backup of their most important data in order to prevent the loss of that data in the event of a disaster. Hybrid cloud storage has the advantage of combining on-premises control of infrastructure, security, and data with the adaptability of cloud technologies.
Retail and E-commerce dominate the generation of huge customer databases
Due to an increase in ICT infrastructure investment and increased ICT spending by businesses, the IT and telecom sectors are dominating the network attached storage industry. The retail and e-commerce sectors of the economy are expanding steadily on a global scale. Due to an increase in the collection of vast amounts of client data, e-commerce corporations are investing a sizable sum in the industry. Network attached storage market is growing as a result of the expanding number of e-commerce businesses and consumer online shopping. For instance, the number of e-commerce sites, which ranges from 12 to 24 million worldwide, is increasing daily. The demand for NAS systems to store massive volumes of consumer data is driven by the rise of e-commerce enterprises and rising online shopping trends.
To get detailed analysis on other segments, Request For Sample Report
In 2021, North America held the largest share of the global network attached storage market and it is anticipated to maintain its dominance throughout the forecast period. This is attributable to a number of top players, including Buffalo Americas Inc., Dell Technologies Inc., Hewlett Packard Enterprise Company, Western Digital Corporation, and others. The market is expanding as a result of rising private and public investment in wireless technologies in this region. A number of telecom companies also intend to build 5G networks all around the nation. It created a demand for better storage options for the large amounts of data generated from wireless technology-based connected devices.
During the forecast period, Europe is projected to expand at a considerable growth rate. This is a result of the increase in the number of connected devices and the enormous increase in data generation. Due to a rise in consumer and commercial digitalization, Europe also boasts the highest adoption rates for fixed broadband connections. The highest fixed-broadband subscription rates are found in Europe, according to an ITU report from 2020. The boom in fixed broadband connections in a concentrated area of European countries, along with the global expansion of the internet, has fuelled demand for network storage products and solutions.
Asia Pacific is projected to grow at a significant CAGR and create profitable prospects for market expansion. The main cause of this is the rising popularity of linked gadgets like smartphones. Regional market expansion is fuelled by IoT devices.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Network Attached Storage Market Driver
One of the key drivers propelling the network attached storage market is the increase in government digitization programmes, which has resulted in significant growth in digital data. The market has benefited from the increased use of smartphones, laptops, and tablets, which has led to the creation of massive amounts of data. The market benefits from the growing demand for these services in e-government efforts, media and entertainment content, healthcare record digitization, online retail sales, and media and entertainment content.
Numerous telecommunications service providers have made investments in the deployment of 5G services, including T-Mobile US, Inc., Nokia Corporation, AT&T, Telefonaktiebolaget LM Ericsson, and Telefonica S.A. The desire for market expansion and the creation of smart industries, cities, and farms is driven by rising 5G investment and the spike in the sale of millions of gadgets. Also, there is a growing need for a number of smart applications, including smart city projects and smart homes, to be connected to the cloud, which produces enormous amounts of data. The network attached storage market has grown as a result of the rising sales of linked smart devices around the world and the rapid expansion of internet usage.
Network Attached Storage Market Restraint
Computer systems can access files through network attached storage, which serves as a connected storage device. These devices are comprised of file and document storage systems. The security of this stored data is in danger from online criminals. Data security and privacy are crucial considerations for the servers and hardware of network attached storage systems. According to a study conducted by Palo Alto Networks Inc. researchers, an estimated 3500 Synology NAS systems and 240,000 QNAP Systems NAS devices were vulnerable to cyberattacks in August 2021. However, according to the Synology Report, cyberattacks used the brute force method. To prevent such attacks, Synology worked with the Taiwan Computer Emergency Response Team Center (TWCERT/CC). Through this partnership, Synology raised everyone's awareness of the need to strengthen security in order to protect user data.
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Key players in the network attached storage market are creating cutting-edge goods, including Western Digital Corporation, Seagate Technology Plc, Synology Inc., Hitachi Ltd., and Thecus Technology Corporation. In order to meet end-user demand, major firms are also implementing a variety of strategies, including mergers, acquisitions, partnerships, collaborations, and new product development.
Network Attached Storage Market Top Players Company Profiles
Network Attached Storage Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, when compared to other storage types like DAS (Direct Attached Storage) and SAN, it is projected that more than 80% of midmarket and enterprise organisations are adopting NAS for some layer of storage and exceeding capacity (Storage Area Network). The growth of unstructured data, the expansion of scale-out NAS in business IT systems, and the emphasis on network virtualization and software-defined NAS are the main market-driving factors. Vendors are being forced to provide tailored NAS solutions for companies looking to use NAS as a full-fledged data management solution as NAS systems in enterprise environments become more widely adopted. In the future, it's projected that on-premise NAS and cloud storage integration will become more popular, making it easier to have complete control over the data in the NAS and to backup and archive data in the cloud. The prominent cloud storage services, primarily Amazon S3, are being integrated with the current NAS system by a number of companies for storage provisioning.
|Market size value in 2021||USD 17.39 billion|
|Market size value in 2030||USD 20 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Network Attached Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Network Attached Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Network Attached Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Network Attached Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG45I2011