Network Attached Storage Market Trends

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 Network – Many 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