Network Attached Storage (NAS) Market Size & Share, by Design (1-8 Bays, 8-12 Bays, 12-20 Bays, >20 Bays); Product (Enterprise, Midmarket); Storage Solution (Scale-up NAS, Scale-out NAS); End-user (BFSI, Healthcare, Retail & E-Commerce, IT & Telecom, Automotive) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5296
  • Published Date: Oct 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Network Attached Storage Market size is anticipated to surpass USD 127 Billion by the end of 2036, expanding around 12% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of network-attached storage was over USD 26 Billion. The rising demand for smartphones is one of the primary reasons responsible to the market growth. Huge amounts of data have been generated by the rising use of smartphones, tablets, and laptops. The smartphone usage is anticipated to reach around 7.7 billion people by 2027. This factor is escalating the market growth rapidly.

Furthermore, due to the rising demand for data backup and redundancy, the implementation of cloud storage is the main factor driving the use of network-linked solutions. Higher data manageability and scalability for managing and storing the data are made possible by network-attached systems.


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Network Attached Storage Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 12%

Base Year Market Size (2023)

 ~ USD 26 Billion

Forecast Year Market Size (2036)

 ~ USD 127 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Network Attached Storage (NAS) Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increasing Demand Among Small and Mid-Size Businesses across End-Use Industries – Due to their affordable setup for small workplaces, network attached storages are being adopted by small and mid-size organizations more frequently. In this storage system, the users can simply access the data through a network connection. The servers give businesses a significant competitive edge, improve customer service, and broaden their collaborative possibilities. These systems provide for simple and inexpensive data centralization as well as easy and dependable data backup. This element will help these systems become more widely used across in a variety of businesses.
  • Increasing Implementation of Next-generation Wireless NetworkMany telecommunication service providers such as T-Mobile US, Inc., Nokia Corporation, AT&T, and Telefonica S.A. have invested in the 5G services deployments. Increasing investment in 5G and the surge in the sales of millions of devices drive the demand for network-attached storage market growth. According to a survey, robust 5G uptake continues into 2023 with momentum in enterprise subscriptions and industrial deployments after adding nearly half a billion connections in 2022. Between the end of 2021 and the end of 2022, there were an additional 76% more global 5G wireless connections, amounting up to 1.05 billion.
  • Increasing Employment of Hybrid Cloud Storage – The result of rising internet usage is an increase in the volume of unstructured data collections. These unstructured data consist of audio, video, and image files. However, it has grown difficult to store this data in a safe and secure manner. Due to the exponential rise in data generation, cloud storage has become essential. Traditional NAS devices and cloud storage are used in hybrid network attached storage solutions. They make127 it possible to build a virtual database with a single volume of data that can be accessed from anywhere. Companies may effectively exchange and manage their vital data with the use of hybrid NAS. As a result, customers and businesses are becoming more interested in implementing network-attached storage solutions.

Challenges

  • Low-performance Associated with Network-Attached Storage – The network-attached storage systems have limited resources; as a result, as the number of NAS users grows, the NAS system becomes slow and experiences performance-related problems. Due to the need for specialized NAS protocols like Server Message Block (SMB) and Network File System (NFS), these systems cannot scale up or out quickly. Due to issues with high latency and low throughput, these protocols are too slow for high-performance applications. Therefore, NAS systems' low performance and problems increasing the system's capacity in comparison to Storage Area Network (SAN) and Direct Attached Storage (DAS) are the main restraints that may hamper the network attached storage market growth of network attached storage systems.
  • Lack of Adequate Infrastructure for Data Security
  • Concerns Related to Cyber-attacks and Data Breaches on Servers and Hard Drives


Network Attached Storage Segmentation

Product (Enterprise, Midmarket)

Network attached storage market from the midmarket segment is expected to hold 54% of the revenue share during the forecast period. The generation of today is highly advanced in technology and makes use of cutting-edge items like smartphones, tablets, and other smart devices. The volume of digital content in the form of unstructured data has increased as a result of the increasing use of various electronic devices. People are using NAS systems to manage these massive data quantities. Consumers also choose centralized NAS solutions to store data produced by backup systems, media streaming devices, and video surveillance systems. Midmarket NAS systems can be used for personal purposes, but they are the best and most expensive options for small and medium-sized organizations.

End-User (BFSI, Healthcare, Retail & E-Commerce, IT & Telecom, Automotive)

The IT & telecom segment is expected to account for 36% share of the global network attached storage market during the forecast period. The industry's growing need for NAS for data mobility, storage virtualization, backup, and recovery can be linked with the growth of this segment. Digital media material, which includes user-generated audio files, photos, documents, videos, and other digital information, is expanding rapidly in the market. This data is significant to both the provider and the customer, therefore, telecom firms have an increased need for dependable and secure data storage solutions. The storage of data is becoming a problem for telecom service providers due to the rise in internet and advanced technology users. The telecoms and ITES industries use NAS devices because they offer a big storage capacity and strong security.

Our in-depth analysis of the global network attached storage market includes the following segments:

          Design

  • 1-8 Bays
  • 8-12 Bays
  • 12-20 Bays
  • >20 Bays

         Product

  • Enterprise
  • Midmarket

         Storage Solution

  • Scale-up NAS
  • Scale-out NAS

          End-User

  • BFSI
  • Healthcare
  • Retail & E-Commerce
  • IT & Telecom
  •  Automotive

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NAS Market - Regional Synopsis

North American Market Forecast

North America network attached storage market is expected to account for 35% of the revenue share by 2036. Various leading companies, like Buffalo AMERICAS Inc, Dell Technologies Inc., Western Digital Corporation, and others, are responsible for the market growth. The market is expanding as a result of rising private and public investment in wireless technologies in this region. According to a Survey, the American wireless sector spent close to USD 35 billion in 2021 on expanding, enhancing, and operating their networks. The investment set a new record and was the fourth year in a row that capital expenses rose. Thus, these factors are driving the segment’s growth. Additionally, a number of telecom companies intended to build 5G networks all over the nation. In order to store the enormous volume of data generated by linked devices using wireless technology, there was a necessity for better storage solutions.

APAC Market Statistics

The network attached storage market in Asia Pacific is anticipated to hold a share of 27% during the forecast period. The NAS market is expanding due to improved network infrastructure and a rise in the use of mobile and portable devices to access data, the region is predicted to have significant growth throughout the projection period. For instance, in China, the penetration rate of smartphones was about 72% as of 2022. By 2027, it is predicted that 83 percent of Chinese citizens would be smartphone users. In 2022, there will be more than one billion smartphone users worldwide. Escalating customer need for cost-efficient, quick, and easy to evaluate media file sharing. The sector is expected to increase positively during the next seven years as a result of the developing economies of nations like China and India.

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Companies Dominating the Network Attached Storage (NAS) Market

top-features-companies
    • Buffalo Americas Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Dell Technologies Inc
    • Western Digital Corporation
    • NetApp, Inc.
    • Sinology Inc

In-the-news

In The News

  • To assist businesses in managing the exponential development of their data and applications as well as to facilitate file sharing between their private clouds and Google Cloud, Dell Technologies and Google Cloud have released Dell Technologies Cloud OneFS for Google Cloud. In addition, Dell is lowering the entry barrier and enhancing overall capabilities for hybrid cloud deployments with new Dell Technologies Cloud innovations.
  • The NetApp AFF C-Series, a new family of capacity flash storage options that deliver less expensive all-flash storage, and the NetApp AFF A150, a new entry-level storage system in the AFF A-Series family of all-flash systems, will both be available soon, according to NetApp®, a global, cloud-led, data-centric software company.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5296
  • Published Date: Oct 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing employment of hybrid cloud storage, and increasing implementation of next-generation wireless network, are some of the factors driving the market growth.

The market size of network attached storage is anticipated to attain a CAGR of 12% over the forecast period, i.e., 2024-2036.

The major players in the market are Buffalo Americas Inc, Dell Technologies Inc, Western Digital Corporation, NetApp, Inc., Sinology Inc, Hitachi, Ltd, Panasonic Corporation, Sony Group Corporation, Fujitsu Limited, NEC Corporation and others.

The midmarket segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Network Attached Storage Market Report Scope
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