The ‘Global Network Attached Storage Market Price, Share, Size, trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global network attached storage market, assessing the market on the basis of its segments like storage solutions, deployment types, end-use industries, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): More Than USD 25.23 billion
- Forecast CAGR (2023-2028):18.00%
The growing popularity of remote collaboration has increased the need for network attached storage to speed up integrated work processes. This, coupled with the increasing trend of work-from-anywhere, is propelling the market growth.
Network Attached Storage Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The boom in digital transformation has increased the need for data backup and redundancy across various end-use sectors, which has fuelled the growth of the network attached storage market. The demand for NAS solutions is also increasing as the need for data backup and storage rises from digitising end-use sectors.
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The main application of network-connected storage is to provide a centralised and shared storage system for digital files. A single system combines several servers and hard drives. Noticing the positive development opportunities, leading companies are creating innovative network attached storage solutions for data backup, redundancy, and storage.
Network Attached Storage Industry Definition and Major Segments
Network attached storage (NAS) is a term used to describe a file storage device that allows many users and a wide range of client devices to access data from a centralised disc capacity. NAS is extremely beneficial for businesses that do not have IT staff. It ensures the availability of data, aids collaboration among employees, and helps in providing quick customer response. It also facilitates swift follow-up on sales or other issues as all the information is stored and available in one place.
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The network attached storage market, based on a storage solution, can be divided into:
- Scale-Up
- Scale-Out
Based on the deployment type, the market can be segmented into:
- On-premises
- Cloud-based
- Hybrid
By end-user industry, the market can be divided into:
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods and Retail
- Telecommunications and IT
- Healthcare
- Energy
- Education and Research
- Media and Entertainment
- Others
The major regional markets for network attached storage include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Network Attached Storage Market Trends
Rising 5G investments and the surge in the sale of IoT devices have propelled the global network attached storage market expansion.
Network attached storage options give cloud storage services a solid base and enable businesses to manage and store their data in one place. Hence, the usage of network-attached solutions is anticipated to increase globally with the expanding cloud and hybrid storage deployment and the rising demand for data backup services.
In addition, the demand for NAS is growing rapidly in a number of smart applications such as smart city initiatives and smart home initiatives connected to the cloud. In addition, the rising demand for digital retrieval, sharing, asset storage, and backup is driving the network attached storage market growth.
Key Market Players
The major players in the global network attached storage market report include Buffalo Americas, Inc. Synology, Inc. QNAP Systems, Inc. Hewlett Packard Enterprise Development LP, Seagate Technology LLC NETGEAR, Inc. and Western Digital Corporation, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.