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Network Attached Storage (NAS) Market Size By Architecture (Traditional, Scale-out), Design, Deployment Model (On-premise, Cloud, Hybrid), Application (Home/Consumer NAS, Business) & Global Forecast, 2023-2032

  • Report ID: GMI2570
  • Published Date: Mar 2023
  • Report Format: PDF

Network Attached Storage Market Size

Network Attached Storage Market size valued at USD 20 billion in 2022 and is projected to expand at more than CAGR of over 15% from 2023 to 2032. This growth is attributed to the proliferation of different social media platforms and their availability on mobile devices. The volume of data generated from these platforms has increased significantly and is set to grow further over the forecast period. Audio, video & graphic content, measuring high in terms of file size, are being generated and shared extensively through these platforms. Consumers accessing and storing multimedia data from these sources require effective data storage solutions to maintain regular data backups. NAS solutions are witnessing an increasing demand from such consumers for personal data backup functions.
 

Network Attached Storage Market

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NAS devices work on the IP network with users using a wide variety of protocols over the Ethernet for accessing NAS storage. Data threats due to sniffer attacks are increasing on IP networks, thereby increasing concerns regarding data security. The IP network becomes congested during huge data backup operations, affecting the normal functioning of the device. Also, the Ethernet is a lossy environment, which results in network congestion and packet drops, affecting data security. This makes these systems unsuitable for mission-critical operations.
 

Network Attached Storage Market Analysis

The scale-up or traditional network attached storage market is expected to witness a 17% growth rate through 2032. Traditional NAS are configured & managed using a browser-based utility function and reside on an independent LAN with an IP address. The introduction of scale-up NAS devices has given the advantage to enterprises in managing discrete file servers that were separately managed & configured earlier. The growing adoption of these systems by home & business enterprise users for archiving data and disaster recovery is contributing to segment growth. These systems offer a cost-efficient way to improve the storage capacity with easy implementation of resource upgrades and reduced needs for physical equipment & energy consumption.
 

Network attached storage market from the 1-bay to 8-bay design segment is predicted to observe nearly 16% gains between 2023 and 2032. These NAS systems are best fit for small NAS devices. These systems comprise hard drive installations, depending on the form selected; for instance, a 1-bay NAS system has space for one hard drive and the 8-bay NAS system has space for eight hard drives. The rising adoption of small NAS devices by SMEs or businesses with lesser employees is slated to propel segment growth. These devices are mainly used as home NAS desktops, print & file servers, backup & data recovery, multimedia storage, as well as small business file-sharing & backup servers.
 

Global Network Attached Storage (NAS) Market Share, By Design

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The rising digitalization due to increasing data has led to a rise in data storage costs, forcing businesses around the globe to switch to cloud-based NAS systems. The increasing adoption of cloud-based NAS systems by enterprises for data backups & archiving is contributing to segment growth. The various features of cloud NAS, such as flexibility in space requirements by only paying for the required storage, offering flexible consumption patterns, and eliminating the need for complex legacy hardware, are reducing system maintenance costs.
 

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of network attached storage surpassed USD 20 billion in 2022 and will depict over 15% CAGR between 2023 and 2032, given the escalating use of social media and entertainment systems.

The traditional architecture segment is poised to register around 15% growth rate through 2032, due to the large-scale adoption of legacy file storage systems.

Latin America NAS market is projected to reach USD 7 billion by 2032, considering the government support for technology startups and healthcare sector growth.

ASUSTOR Inc., Dell Technologies Inc., Buffalo Americas, Inc., Hewlett Packard Enterprise Company (HPE), Seagate Technology Holdings plc, QNAP Systems Inc., and Western Digital Corporation are some of the key players in the NAS market.

Network Attached Storage (NAS) Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 21
  • Tables & Figures: 382
  • Countries covered: 19
  • Pages: 300
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