Network Attached Storage (NAS) Market Size By Architecture (Traditional, Scale-out), By Design (1-bay to 8-bay, 8-bay to 12-bay, 12-bay to 20 bay, above 20-bay), By Deployment Model (On-premise, Cloud, Hybrid), By Application (Home/Consumer NAS, Business [BFSI, Telecom & IT, Healthcare, Retail & Consumer Goods, Government, Media & Entertainment]), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Taiwan, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Industry Trends

Network Attached Storage Market size estimated at over USD 6 billion in 2017, growing at around 20% CAGR from 2018 to 2024.
 

Network Attached Storage (NAS) Market Share, By Region, 2017

Get more details on this report - Request Free Sample PDF
 

The NAS market is expected to exhibit a robust growth rate due to the increase in the demand for systems to accelerate system performance. These systems connect directly to the router or Wi-Fi network and support storage requirements of enterprise customers. Individuals and enterprises rely on these to automatically backup their business-critical data and gain quick access to data. As enterprises are witnessing a rise in the volume of data, the demand for NAS systems has increased considerably to meet the rapidly evolving network demands such as high performance and scalability. Another factor fueling market growth is the surge in the usage of Big Data analytics and data mining applications. With the growing applications of data analytics, big data has become an integral part of every enterprise, making storage challenges larger in scale. For handling large amounts of data generated by enterprises, an equally large scale-up storage framework needs to be deployed to enable the required throughput capacity.
 

By Architecture

North America Network Attached Storage Market Size, By Architecture, 2017 & 2024 (USD Million)

Get more details on this report - Request Free Sample PDF
 

The traditional architecture segment is projected to grow at a CAGR of above 10% over the forecast timeline as these systems are managed and configured using a browser-based utility function and reside on an independent LAN having its IP address. The introduction of scale-up NAS devices has given the advantage to the enterprises of managing discrete file servers that were separately managed and configured earlier. These systems provide a cost-efficient way to improve the storage capacity with easy implementation of resource upgrades and reduced needs for physical equipment and energy consumption.
 

By Design

The above 20 bay segment is projected to grow at a CAGR of over 15% from 2018 to 2024 and is mainly used by large-scale enterprises requiring huge storage, processing, and data recovery capacity. Due to the advent of large IT industry emergence and government initiatives for digitalization in developing countries including India, Malaysia, and China, the demand for these systems is expected to rise in the APAC region.    
 

By Deployment Model

UK Network Attached Storage (NAS) Industry Size, By Deployment Model, 2017 & 2024 (USD Million)

Get more details on this report - Request Free Sample PDF

The cloud deployment model is expected to exhibit a growth rate of over 20% from 2018 to 2024 due to the rising popularity of cloud-based NAS systems. These systems are used for data backups & archiving and can be accessed at any time from any place, thereby driving the network attached storage market demand. The adoption of cloud-based storage systems enables flexibility in space requirements by only paying for the storage the user requires, offering flexible consumption pattern, thus resulting in market growth.  
 

By Application

The BFSI application segment is estimated to hold a network attached storage (NAS) market share of over 25% by 2024. The banking & financial sector accounts for major monetary transactions and the security of this data is a major concern for the BFSI sector. NAS devices offer secured data storage with cost-effective and scalability options. This augments business productivity and improves operational efficiencies of the BFSI sector. The systems also assist in the backup and safekeeping of data and files relevant to the branch with lower power consumption.
 

By Region

The LAMEA NAS market is projected to grow at a CAGR of over 15% during the forecast timeline. Huge investments for the development of cloud infrastructure in Brazil followed by Chile, Argentina, and Mexico will fuel the adoption of cloud enabled NAS solutions. Various companies worldwide are offering a wide range of comprehensive data storage solutions, driving market growth. In September 2016, Telefonica and Huawei launched cloud server and open cloud services in Brazil, Chile, and Mexico to accelerate cloud services. This will provide customers greater access to their private networks and offer secured storage solutions in hybrid cloud environments.
 

Competitive Market Share

Some of the prominent players in the market are laying more emphasis on partnerships to develop innovative solutions with enhanced storage capabilities. In June 2017, NetApp collaborated with Microsoft to help enterprises accelerate digital transformation for hybrid cloud. Under the collaboration, NetApp developed new cloud data services based on NetApp ONTAP innovation offered on the Azure Cloud. In September 2017, Seagate and Baidu signed a strategic agreement for big data analysis and advanced storage implementation. Under the agreement, both the companies helped each other to analyze new opportunities in the data center and cloud computing, significantly improving their status in respective industries. Some players are focusing on expanding their geographic presence to target a new set of customers by introducing their products. Some prominent companies of the network attached storage (NAS) market are Netgear, Western Digital, SoftNas, QNAP, Asustor, Thecus, Zyxel, NetApp, Buffalo Americas, D-Link, Avere Systems, Hitachi Data Systems Corporation, Synology, Seagate, DELL EMC, Pansas, Cisco, Infortrend, and Broadberry.
 

Industry Background
 

Get more details on this report - Request Free Sample PDF
 

Digital storage needs have increased significantly over the past decade with an exponential increase in the creation of digital media on a global scale. Traditionally, servers have facilitated these functions in organizations by offering storage that can be accessed by multiple devices on a network typically through file serving or sharing or through storage, which are an extension of traditional servers built specifically for and are limited to file storage and sharing.
 

What Information does this report contain?