Network Attached (NAS) Storage Market size is anticipated to exceed USD 100 billion by 2032, according to the latest research report by Global Market Insights Inc.
The growing awareness of efficient data storage systems is a prominent driver for network-attached storage solution demand. This solution can aid enterprises in centralizing their storage, simplifying data management and deploying virtualization solutions to help meet challenging business requirements. Additionally, businesses can mix and match cloud services and NAS systems to optimize cost, performance and management while gaining complete control over security and location. The rising investment in 5G LAN networks and IT infrastructure expansion projects will further proliferate the industry growth.
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1-bay to 8-bay design to gain traction for delivery of advanced small NAS systems
The NAS market from the 1-bay to 8-bay design segment is poised to depict over 15% CAGR during 2023-2032. This design caters to prosumers preferring storage systems geared heavily toward effective transmission through high-performance media with top-tier hardware. It is also built to deliver industry-leading solutions for small network storage systems. Additionally, these devices are utilized as home NAS desktops, file and print servers, data recovery and backup, multimedia storage and file sharing and backup servers, thereby contributing to product consumption.
Data residency convenience to fuel hybrid NAS storage platform development
The industry size from the hybrid deployment model is set to register 20% growth through 2032, on account of the product’s ability to provide the convenience of data residency. Hybrid NAS deployment offers users a scalable public cloud architecture while storing and safeguarding business data on the private network. The growing awareness of hybrid cloud advantages, including added security features, will also stimulate the adoption of hybrid NAS solutions to support a range of enterprise file workloads.
Browse key industry insights spread across 300 pages with 345 market data tables and 37 figures & charts from the report, “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]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Medical image & business data storage requirements amplify NAS network integration
Business application segment held over 85% share of the network attached storage market in 2022, owing to the rising need for bulk data transfer, data backup security, and cost-effective storage solutions. In the healthcare segment, for instance, NAS solutions are being leveraged to store high-resolution CT, PET, and MRI scans, diagnostic test reports, and high-definition videos. The report cites that the increasing delivery of customized NAS devices to meet client requirements will additionally influence system improvement.
North America to emerge as a prominent revenue hub for NAS software developers
The North America NAS industry was valued at over USD 9 billion in 2022, due to the high reliance of regional enterprises on advanced storage technologies. In countries including the U.S., businesses are set to invest significant sums in digital transformation, in the wake of the supply chain disruptions and changes in consumer buying behavior amid the COVID-19 pandemic. These rapidly growing digitalization trends will escalate the implementation of network-attached storage devices across various industry verticals to address high storage capacity.
Advanced product launch strategies to propel network attached storage market outlook
Western Digital Corporation, Buffalo Americas, Inc., Hewlett Packard Enterprise Company (HPE), Huawei Technologies Co., Ltd., Hitachi, Ltd., Nasuni Corporation., iXsystems, Inc., Pure Storage, Seagate Technology Holdings plc, QNAP Systems Inc., SoftNAS (Buurst), TerraMaster Technology Co., Ltd., Synology, Inc., and Zyxel are some of the major players profiled in the report. These companies are incorporating strategies such as new solution launches to expand their portfolio and business footprint in the business scenario.