Global Network Attached Storage (NAS) Market Size, Drivers, Trends And Competitors 20232030

Network Attached Storage (NAS) Market Size And Forecast

Network Attached Storage (NAS) Market size was valued at USD 22.48 Billion in 2021 and is projected to reach USD 76.38 Billion by 2030, growing at a CAGR of 17.3% from 2023 to 2030.

The increasing need to access data anytime, anywhere in the corporate network and the internet is one of the key factors driving the growth of the market. The Global Network Attached Storage (NAS) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Network Attached Storage (NAS) Market Definition

NAS provides a storage and retrieval facility for data from a centralized location for heterogeneous clients authorized network users and authorized network users. Network Attached Storage (NAS) Market is expected to witness significant growth over the forecast period owing to its features such as flexibility & scale-out, easy setup, and economical installation & maintenance costs. The configuration of NAS can be done easily through connected devices such as computers.

Global Network Attached Storage (NAS) Market Overview

Increasing adoption of remote & virtual office environments, business continuity planning, and the ensuring need to provide remote access to corporate networks to employees is fuelling the demand for NAS technology. Business operations require maintaining the backup of confidential data; NAS devices are just the right fit. The rise in the use of this technology is because these backup targets and files store copies of data.

Data compression ability in NAS devices to store a duplicate copy of data will rise the adoption of NAS devices. Data deduplication replaces duplicate files on the NAS network which tags the files referring to the original file which reduces the number of duplicate entries, thereby enhancing the efficiency of the searching capability. However, data security is the primary concern among enterprises due to the misuse of privileged access leading to corporate espionage.

Demand is expected to remain high among small and medium enterprises, as NAS devices provide a cost-effective solution for these firms which are often saddled with issues, such as limited access to IT and financial resources. The Network Attached Storage (NAS) Market is gradually witnessing a transition from small and medium businesses to specific solutions to more advanced large enterprise-oriented solutions. The SMBs adopt this solution for relevant data storing and sharing applications; big organizations use NAS for standard data sharing which is not necessary applications, and for specific workgroups, departments, and remote offices.

As enterprises are witnessing a rise in the volume of data, the demand for NAS systems has increased considerably to meet the rapidly evolving network demands such as high performance and scalability. Another factor fueling the market growth is the surge in the usage of analytics and data mining applications. With the growing applications of , big data has become an integral part of every enterprise, making storage challenges larger in scale.

Global Network Attached Storage (NAS) Market: Segmentation Analysis

The Global Network Attached Storage (NAS) Market is Segmented on the basis of Product, Storage Solution, and Geography.

Network Attached Storage (NAS) Market, By Product

• Enterprise NAS Solutions
• Midmarket NAS Solutions

Based on Product, the market is segmented into Enterprise NAS Solutions and Midmarket NAS Solutions. Enterprise NAS Solutions held the largest market share, and a similar trend is likely to be observed during the forecast period owing to the growing adoption of NAS solutions by small and medium-sized businesses, education, media and entertainment companies, homes, and research centers, and business and consulting service providers. An increase in the volume of data generated across these industries is leading to the increased demand for NAS solutions

 Network Attached Storage (NAS) Market, By Storage Solution

• Scale-up NAS
• Scale-out NAS

Based on Storage Solution, the market is bifurcated into Scale-up NAS and Scale-out NAS. These solutions are usually deployed in small and medium-sized offices, homes, educational institutions, and hotels, wherein a moderate volume of data is generated, and the only requirement is to store this data.

Network Attached Storage (NAS) Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Global Network Attached Storage (NAS) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is projected to observe a significant growth rate over the forecast period owing to the improvement in network infrastructure, and an increase in the use of portable devices such as laptops and mobiles to access the data. Growing demand from the consumer to share media files through cost-effective, fast, and easily assessable methods.

Key Players

The “Global Network Attached Storage (NAS) Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Dell Inc., Buffalo Inc., EMC Corporation, Hewlett-Packard, IBM Corporation, Hitachi Data Systems Corporation, Net App Inc., LSI Corporation, Overland Storage Inc., Net Gear Inc., Panasas Inc., and SGI Corporation.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and global market ranking analysis of the above-mentioned players.

Key Developments

Partnerships, Collaborations, and Agreements

• In January 2017, QNAP Systems Inc. collaborated with IFTTT to produce an IFTTT agent for QNAP NAS, which allows the creation of NAS-specific applets that facilitate automation and improve the efficiency of its goods.
• In August 2019, Synology Inc. and Taiwan Computer Emergency Response Group Center partnered with international cybersecurity associations to defend businesses from cyberattacks.

Mergers and Acquisition

• In March 2020, NetApp Inc. acquired Talon Storage, ahead in next-generation application storage systems, to assist global enterprises to standardise and integrating IT storage infrastructure to cloud services.

Product Launches and Product Expansions

• In Jan 2020, QNAP also launched a new two-bay NAS directed at home users that facilitates hardware-accelerated media playback. The TS-251D results by adding to 32 TB of data and is expanded with a PCIe card to expand SSD caching or other alternatives.

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Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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