According to Market Research Future, the global network-attached storage market was valued at USD 15,021.3 million in 2017 and is estimated to reach USD 44,595.6 million by 2023 at 20.1% CAGR during the forecast period 2018–2023.
A Network-Attached Storage Market is a file-level storage architecture where the users can access, share, and store data across a network through a centralized disk capacity. The files stored in these devices can be accessed through LAN over Ethernet connections through SMB, CIFS, NCP, FTP, HTTP, and NFS protocols depending upon the clients’ operating system. The NAS devices appear as a single node over a network with a defined IP address. These devices are cost-effective, easy to install, and highly accessible; they offer users with higher reliability, and superior performance with negligible server downtime. Growing demand for secured data storage devices for different applications and increasing utilization of NAS in home applications are some of the major factors driving the growth of network attached storage market. Moreover, increasing BYOD trend among enterprises is expected to boost the growth of the market in the coming years. However, security issues associated with remotely stored data might impact the growth of the market adversely.
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Some of the prominent players in the global network-attached storage are Dell EMC (US), HPE (US), IBM Corporation (US), Hitachi Vantara Corporation (US), Netapp Inc. (US), Seagate Technology Public Limited Company (Ireland), Cisco Systems Inc. (US), Western Digital Corp. (US), Netgear Inc. (US), QNAP Systems Inc. (Taiwan), Synology Inc. (Taiwan), Buffalo Americas Inc. (Japan), and Space Monkey (US).
The MRFR analysis offers a comprehensive understanding of market dynamics. The global network-attached storage (NAS) market is analyzed across key geographies namely North America, Europe, Asia-Pacific, and the rest of the world. North America is dominating the network-attached storage (NAS) market due to the increased need for next-generation storage devices to efficiently extract and store the data. Also, the emergence of start-ups which require a stable and highly efficient storage solutions for their work operations is a major factor fueling the growth of NAS market in this region.
The global network-attached storage (NAS) market has been segmented on the basis of product, storage solution, organization size, deployment, vertical, and region.
The market, by product, has been segmented into high-end/enterprise NAS, midmarket NAS, and low-end/desktop NAS. The high-end/enterprise NAS segment accounted for the largest market share in 2017, followed by the midmarket NAS segment which is projected to register the highest CAGR during the forecast period.
Based on storage solution, the market has been bifurcated into scale-up NAS and scale-out NAS. The scale-out architecture proves to be beneficial in many ways as it offers large capacity without any limitation, meets the performance demands of key workloads, simplifies deployment and management of resources thereby enhancing the users’ productivity.
On the basis of organization size, the market has been bifurcated into SMEs and large enterprises. According to MRFR analysis, the SMEs are expected to dominate the NAS market since NAS enables SMEs to create their very own storage solution which simplifies data management and optimizes recurring operational costs.
Based on deployment, the market has been segmented into cloud, on-premise, and hybrid. The on-premise segment accounted for the largest market share in 2017, followed by the hybrid segment which is projected to register the highest CAGR during the forecast period 2018–2023.
The market, by vertical, has been segmented into BFSI, retail, media & entertainment, government, IT & telecommunication, healthcare, manufacturing, energy & utilities and, others. Among these, the IT & telecommunication segment dominated the global NAS market followed by BFSI and retail verticals. In the IT and telecommunication vertical, NAS devices help in reducing the management costs and data center equipment footprint, thereby reducing the floor space, and power and cooling costs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Network-Attached Storage (NAS) Market – Regional Analysis:
The regional analysis of Network-Attached Storage (NAS) market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading regions across the world in terms of largest market share in Network-Attached Storage (NAS) market in terms of revenue. And the small and medium enterprises segment is projected to be the most attractive segment in the North America consumer network attached storage market during the calculated period. The end user segment in North America is expected to register high Year-on-Year growth rates throughout the forecast period. Small and medium enterprises segment is expected to remain dominant by 2023 end, accounting for more than 60% of the Asia Pacific consumer network attached storage market.
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