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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.
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.
Report Attribute | Details |
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Base Year: | 2022 |
Network Attached Storage (NAS) Market Size in 2022: | USD 20 billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 15% |
2032 Value Projection: | USD 100 billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 300 |
Tables, Charts & Figures: | 382 |
Segments covered: | Architecture, Design, Deployment Model, Application, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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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 SME 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.
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.
Network attached storage market revenue from the business segment accounted for USD 19.4 billion in 2022 and is anticipated to reach USD 93.5 billion by 2032. Rapid industrialization and government initiatives for digitalization have resulted in an upsurge in the IT & telecom industries to meet the rising customer demands. Also, increasing initiatives by financial institutions for digital transformation have led to an increase in data and made the security of this confidential data a major concern for the BFSI sector. NAS devices offer secure data storage with cost-effective & scalability options. This augments business productivity and improves the operational efficiencies of the BFSI sector.
North America network attached storage market is estimated to attain approximately 15.8% gains through 2032. This growth is credited to the presence of leading market players including Dell EMC, HPE, Western Digital Corporation, and Seagate Technology Holdings PLC. These companies offer highly advanced NAS system capabilities on account of the growing demand for such solutions from both midmarket as well as large enterprise customers. Also, there has been an increasing emphasis by NAS companies on introducing advanced storage solutions in the U.S. market to effectively adapt to the changing business storage requirements.
Major companies operating in the NAS market including :
are focusing on designing & commercializing solutions for different sections of the customer landscape with respect to storage capacity requirements and the desired level of integration capabilities. They are involved in diversifying their product portfolios by introducing NAS systems customized for SMBs as well as home & enterprise customers. Market players are emphasizing product innovations to cater to customer demand with technological evolution. For instance, in June 2022, StorCentric launched the Nexsan EZ-NAS, a Network Attached Storage (NAS). This system features a 1U form factor and four drives with a capacity of 72 TB and 1.5 GB/s of throughput. The new platform is suitable for edge deployments in SME and large enterprises. The platform also delivers enhanced modern features including in-line compression and data-at-rest encryption.
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Market Insights, By Architecture
Market Insights, By Design
Market Insights, By Deployment Model
Market Insights, By Application
The above information has been provided for the following regions and countries: