Report Ocean has released a research study titled “Network Attached Storage (NAS) Market” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Network Attached Storage (NAS) Market is valued approximately USD 20.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.7 % over the forecast period 2020-2027. Network Attached Storage (NAS) is used for storage and retrieval of data from a centralized disk capacity. It is connected to local area network (LAN) and can be used by heterogeneous users at a time to store and access their data safely. These devices are controlled by the browser-based utility and are quite flexible and can be scaled out if additional storage is required. Network Attached Storage (NAS) are faster, user-friendly, having the high capacity at a fairly low cost. The global Network Attached Storage (NAS) is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown.
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So various companies are adapting Network Attached Storage (NAS) for operating their business efficiently. The government focus on digitization leading to massive growth in digital data, increased use of smartphones, laptops, and tablets resulting in generation of large volumes of data and rapid adoption of 4G and 5G technologies creating high-volume digital content are the factors responsible for the growth of the market over the forecast period. For instance: as per Statista, the global smart phone penetration rate was 33.5% in 2016 and is increased to 44.9% in 2020. Furthermore, the introduction of products and services and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 24th October 2019, Western Digital Corporation launched an array of purpose-built storage solutions for small businesses and home offices leveraging NAS environments. The solution consists of WD Red SSDs, which enhance performance and caching abilities in a hybrid NAS environment, as well as a 14TB capacity for the WD Red and WD Red Pro HDDs. However, prime concern of data security when data is stored at remote location which is the major factor restraining the growth of global Network Attached Storage (NAS) market during the forecast period.
Major market player included in this report are:
Dell Technologies Inc.
Hewlett Packard Enterprise Company (HPE)
Western Digital Corporation
Seagate Technology Public Limited Company (PLC)
Buffalo Americas, Inc.
QNAP Systems Inc.
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the Network Attached Storage (NAS) market revolves around storage devices connected to a network, offering file-based storage to multiple clients and providing functionalities such as data sharing, backup, and storage management. Here are key takeaways from a deep analysis of the NAS market across different industries:
- Data Storage and Accessibility: NAS devices provide centralized storage accessible over a network, allowing multiple users or devices to access, share, and manage files, fostering collaboration and data accessibility.
- Scalability and Flexibility: NAS solutions offer scalability, enabling easy expansion of storage capacity by adding additional drives or units, providing flexibility to accommodate growing data needs.
- Small to Enterprise-level Solutions: NAS systems cater to various scales of operations, from home or small office setups to large enterprise environments, providing tailored solutions with different storage capacities, performance levels, and features.
- Data Protection and Redundancy: RAID configurations in NAS devices offer data protection by providing redundancy, ensuring data integrity and availability in case of drive failures, minimizing the risk of data loss.
- Backup and Disaster Recovery: NAS systems facilitate backup and disaster recovery solutions, allowing automated backups, snapshots, and replication to ensure data resilience and quick recovery in case of data loss or disasters.
- Remote Access and File Sharing: Many NAS devices offer remote access functionalities, enabling users to access files and data stored on the NAS device from anywhere via the internet, enhancing collaboration and productivity.
- Media Streaming and Entertainment: Some NAS devices cater specifically to media streaming and entertainment purposes, serving as a central repository for media files like videos, music, and photos accessible to various devices within a network.
- Security Features: NAS systems provide security measures such as access controls, encryption, user authentication, and data encryption in transit to safeguard data against unauthorized access and cyber threats.
- Integration with Cloud Services: Integration with cloud storage services allows NAS devices to synchronize or back up data to the cloud, providing additional redundancy and accessibility options.
- Management and Monitoring Tools: NAS solutions offer management interfaces and monitoring tools, allowing administrators to configure, manage, and monitor storage, access permissions, and system health.
- Application Support and Integration: NAS devices support various applications and integrations, serving as a platform for running applications, hosting websites, or deploying other services within the network.
- Challenges in Data Security and Performance: Ensuring robust security measures and maintaining consistent performance, especially in large-scale environments with heavy workloads, are challenges in the NAS market.
The detailed segments and sub-segment of the market are explained below:
Banking, Financial Services, and Insurance (BFSI)
Consumer goods and retail
Telecommunications and ITES
Education and research
Media and entertainment
Business and consulting
1Bay to 8 Bays
8 Bays to 12 Bays
12 Bays to 20 Bays
More than 20-bays
Enterprise NAS Solutions
Midmarket NAS Solutions
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Rest of the World
Table of Contents:
- Executive Summary
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
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