The network attached storage market size is expected to grow from $22.09 billion in 2023 to $138.03 billion over 10 years. The market is expanding due to the increasing demand for network attached storage across various industries undergoing digital transformation. Increasing focus on hybrid cloud technologies promotes network-attached storage.
NEWARK, Feb. 13, 2024 (Globe Newswire) — Brainy Insights predicts network-attached storage market to grow from USD 22.09 billion in 2023 to USD 138.03 billion by 2033 . Throughout the forecast period, more data-driven businesses will adopt innovative technologies. Drive the network attached storage market.
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Key Insights on the Network Attached Storage Market
The North America region accounts for the largest market size during the forecast period.
North America region is expected to hold significant market share due to the growth of small and medium enterprises as well as large enterprises. His increased investment in 5G technology and hybrid cloud storage in these industries is having a positive impact on the regional market. The United States is at the forefront of digital transformation, particularly in the transportation and discrete manufacturing industries. In addition, market participants are also present in regional countries.
The enterprise NAS solutions segment is anticipated to expand the market during the forecast period.
The type segment is divided into enterprise NAS solutions and mid-market NAS solutions. The enterprise NAS solutions segment is anticipated to expand the market during the forecast period. Massive storage, virtualization, and other cutting-edge features are available in his enterprise-level NAS systems. Enterprise-class NAS servers support more than 1,000 clients or users at a time. They have multiple bays to hold multiple mass storage disks.
The scale-up segment is anticipated to expand the market during the forecast period.
Storage segments are divided into scale-up and scale-out. The scale-up segment is anticipated to expand the market during the forecast period. The most common type of traditional block and file storage platforms are scale-ups. Configure the system with two controllers and multiple drive shelves. Scale-up architectures have long been the norm in the storage industry. However, as data volumes increase, it becomes difficult to overlook the many drawbacks and shortcomings of scale-up storage.
The hybrid segment is anticipated to expand the market during the forecast period.
The deployment type segment is on-premises, cloud, and hybrid. The hybrid segment is anticipated to expand the market during the forecast period. A network-attached storage appliance that combines cloud-based and on-premises storage is known as a hybrid NAS. Data that is likely to be needed by a company in an emergency is stored on a hybrid NAS device.
The media and entertainment sector is anticipated to expand the market during the forecast period.
The end-use segments are divided into Healthcare, Media & Entertainment, IT & Telecom, BFSI, Automotive, Gaming, etc. The media and entertainment sector is anticipated to expand the market during the forecast period. Digital music, images, and videos can be stored and streamed on-premises or internationally using network-attached storage. NAS also helps you sync and backup data between your PC and mobile devices.
Report scope and segmentation –
|
Report scope |
detail |
|
Forecast period |
2024-2033 |
|
CAGR forecast |
25.99% |
|
Value prediction for 2033 |
$22.09 billion |
|
Market size in 2023 |
$138.03 billion |
|
historical data |
2020-2022 |
|
number of pages |
238 |
|
Report scope |
Earnings forecast, company profile, competitive environment, growth factors, latest trends |
|
Target segment |
By type, deployment type, end use, region |
|
Target area |
The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. In addition, regions are further analyzed at the country level. |
|
Network Attached Storage Market Growth Drivers |
Growing demand for data storage |
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Market trend
Driver: Adoption of digitalization practices in SMEs
The practical application of the Web in design, marketing, manufacturing, sales, and promotion is known as digital transformation, a data-oriented management paradigm. The result is increased enterprise capabilities and improved procedures. Recently, the pace of digitalization of enterprises has accelerated. Companies of all sizes are increasingly providing digital tools to their employees. The adoption of different technologies for different purposes and the reuse of different strategic assets are all part of a multifaceted digitalization process. Small and medium-sized enterprises that want to digitize their business processes often outsource their solutions to compensate for insufficient internal resources and due to financial constraints. Digital platforms such as social media and e-commerce sites can be optimized for specific tasks such as data analysis and business intelligence services very cheaply.
Constraint: Performance degradation as traffic increases
Significant increases in LAN traffic can cause performance degradation as the number of users increases. For some applications, such as video editing, large file sizes can exacerbate performance issues. Low-end NAS systems are easier for organizations to manage. However, operation may become slower at higher volumes. You may experience delays, congestion, or interference from other LAN users. Large NAS typically has poorer performance than a SAN and can experience delays due to increased traffic.
Opportunity: Adopt hybrid cloud storage
The events of the past two years and the growing demand for remote solutions for both consumers and businesses have accelerated cloud adoption. A cost-effective hybrid cloud solution easily and seamlessly links your on-premises infrastructure with public and private cloud environments. According to one out of two users of hybrid cloud storage, the flexibility to connect resources and work with colleagues saves users the most time. Hybrid cloud storage capacity, which allows backups to be restored more quickly during an outage, was rated as the most time-saving by 37% of users. By adopting a hybrid cloud strategy, industries can benefit from significant investments in services, including on-premises infrastructure and legacy technologies, while reaping the benefits of the public cloud.
Challenge: Security Risk
As users expose more data and devices to the network, a third scaling concern for NAS is protecting the network and data from malicious attacks and unauthorized access. If a NAS device or network is not secure, users are at risk of corruption, data loss, or theft.
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The major companies operating in the network attached storage market are:
• Synology Inc.
• Seagate Technology PLC
• NetApp Inc.
・IBM Co., Ltd.
• Dell Technologies
・Hitachi, Ltd.
• Western Digital Co., Ltd.
・Netgear Co., Ltd.
• Hewlett Packard Enterprise Development LP
• Buffalo Technology
Main segments covered in the market:
By type:
• Enterprise NAS solution
• Mid-market NAS solutions
By storage:
• Expanding
• Non-standard
By deployment type:
• On-premises
• clouds
• hybrid
By end use:
• health care
• Media and Entertainment
• IT and Telecommunications
• BFSI
• car
• Consumer goods and retail
• Government
• others
By region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and other South America)
• Middle East and Africa (UAE, South Africa, rest of MEA)
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About the report:
The market is analyzed on the basis of value (USD Billion). All segments are analyzed on global, regional and country basis. The study includes analysis of more than 30 countries in each part. The report analyzes the drivers, opportunities, constraints, and challenges to gain key market insights. This research includes Porter’s Five Forces Model, attractiveness analysis, product analysis, supply and demand analysis, competitive position grid analysis, distribution, and marketing channel analysis.
About Brainy Insights:
The Brainy Insights is a market research company that aims to provide actionable insights to improve business acumen for companies through data analysis. We have robust predictive and estimation models to achieve our clients’ goals of achieving high-quality results in a short period of time. We offer both customized (client-specific) and syndicated reports. The repository of syndicated reports is diverse across all categories and subcategories across domains. Our customized solutions are tailored to meet our clients’ requirements, whether they are looking to expand in global markets or planning to launch a new product.
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