Network Attached Storage Market Size, Share, Growth Analysis, By Product Type(High-end/Enterprise, Midmarket, Low-end), By Storage Solution(Scale-up NAS, Scale-out NAS), By Deployment Type(On-premises, Remote, Hybrid), By End User(BFSI, Healthcare, Retail & e-commerce, IT & Telecomm), By Region - Industry Forecast 2024-2031

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.