Network Attached Storage (NAS) Market Size By Architecture (Traditional, Scale-out), By Design, By Deployment Model (On-premise, Cloud, Hybrid), By Application (Home/Consumer NAS, Business [BFSI, Telecom & IT, Healthcare, Retail & Consumer Goods, Government, Media & Entertainment]) & Forecast, 2023 – 2032

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.
 

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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.
 

Rising adoption of traditional NAS systems by home users

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.
 

Growing adoption of small NAS devices by SMEs

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.
 

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Rising levels of data owing to digitalization across various industry verticals

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.
 

Growing industrialization and supportive government initiatives for digitalization