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Consumer NAS Market Trends

  • Report ID: GMI8431
  • Published Date: Mar 2024
  • Report Format: PDF

Consumer NAS Market Trends

The consumer NAS industry has witnessed significant technological advancements. Storage technology advancements, such as better density drives and quicker data transmission interfaces, enable NAS devices to provide much higher storage capacity and data transfer rates than prior versions. This fulfills customers' ever-increasing data requirements while improving the overall user experience. Security technologies are always evolving, and NAS devices are keeping up by offering features, such as data encryption, user authentication, and virus protection, addressing the rising concerns about data security and privacy, particularly among users storing sensitive information. As smart homes gain popularity, NAS devices are evolving to fit easily into smart home ecosystems. This enables consumers to store data generated by smart home devices, such as security cameras or video doorbells, on their NAS, providing centralized control and increased data security over cloud storage solutions.

For instance, in January 2023, Synology introduced its DiskStation DS723+ NAS, the most compact expandable choice among its range of all-in-one solutions tailored for home offices and small businesses. Operating on the adaptable Synology DiskStation Manager (DSM) OS, the DS723+ delivers complete solutions for safeguarding & organizing business data, facilitating seamless document collaboration, enabling remote file access, and overseeing physical assets, all in a streamlined desktop format.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for consumer NAS was worth USD 5 billion in 2023 and is set to expand at over 11% CAGR between 2024 and 2032 driven by the increasing amount of data being generated by individuals and households globally.

Consumer NAS market from the multiple bay design segment held 94% revenue share in 2023 and is projected to witness high demand through 2032 owing to its flexibility to add more drives in the future for enabling simple & cost-effective expansion of storage capacity.

North America industry accounted for more than 41% revenue share in 2023 and is set to exhibit a robust growth rate up to 2032 attributed to the high internet penetration rate across the region.

Some of the major firms engaged in the market are Acer Inc., ASUSTOR Inc., Dell Inc., D-Link Corporation, Huawei Technologies Co., Ltd., LaCie, Seagate Technology LLC, Synology Inc., Thecus.COM, and ZyXEL Communications Corp.

Consumer NAS Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 280
  • Countries covered: 22
  • Pages: 220
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