Network Attached Storage Market size is set to surpass USD 40 billion by 2027, according to a new research report by Global Market Insights Inc.
Increasing demand for systems to accelerate system performance is likely to boost the NAS industry demand. These systems connect directly to the router or Wi-Fi network and support the 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 data volume, the demand for NAS systems has increased considerably to meet the rapidly evolving network demands such as high performance and scalability.
Growing demand for seamless and low-cost scalability of storage space over enterprise networks
The scale-out architecture segment is expected to register a growth rate of more than 20% through 2027 impelled by architectural benefits over traditional scale-up storage infrastructure in terms of seamless and low-cost scalability of storage space. Scale-out systems manage storage economically, offer multiple forms of access, and enhance data protection & integrated cloud storage solutions. Moreover, since enterprises have started using big data methods and programs, such as Hadoop, to save & analyze unstructured data that require higher storage capacity and performance, the demand for scale-out systems has increased rapidly.
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Growing adoption of 1-bay to 8-bay solutions across home/consumer applications
The 1-bay to 8-bay design segment held around 35% of the NAS market revenue share in 2020 owing to increasing adoption across home/consumer applications. 1-bay to 8-bay NAS systems are built to provide industry-leading solutions for small NAS devices. These systems have hard drive installations, depending upon the form selected; for instance, a 1-bay system has space for one hard drive and the 8-bay NAS system has space for eight hard drives.
Browse key industry insights spread across 270 pages with 337 market data tables and 34 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, 2021 – 2027”, in detail along with the table of contents:
Increasing demand for hybrid network-attached storage solutions
The hybrid segment is poised to showcase significant growth during 2021 to 2027. Rising demand for hybrid network-attached storage solutions, which offer the convenience of data residency for storing mission-critical data on-premise, facilitating the cloud-based storage of non-critical data in a scalable architecture is boosting the network attached storage market demand. In a hybrid deployment, users can benefit from the scalable architecture of the public cloud and at the same time protect their business data by storing them on their private network.
Growing need to manage unstructured data across businesses
The business deployment model is anticipated to witness about 10% gains through 2027 on account of an increasing need to manage unstructured data across various businesses. The major companies operating in the IT industry make use of NAS systems compared to other storage devices to store their exponentially rising unstructured data. Many vendors operating in this field are offering businesses with customized NAS solutions as per client requirements, augmenting the adoption of NAS systems.
Rising trend of digitalization across Asia Pacific
APAC network attached storage market is predicted to generate above USD 10 billion revenue by 2027. The growing advent of SMEs in this region has contributed to a rising demand for storage solutions due to which various organizations are investing in the regional market to improve storage efficiency and meet the demand. Leading industry participants are focusing on the of launch innovative solutions to strengthen their market position.
Focus on acquisition by key players to augment market share
Market leaders are focusing on acquisition initiatives to address the growing demand. For instance, in March 2020, NetApp Inc., a cloud data services and data management company, acquired Talon Storage (U.S.), a software-defined storage solutions provider, to enable global enterprises to centralize and consolidate IT storage infrastructure to public clouds. This acquisition helped the company to increase its capabilities and generate a new revenue stream.
Some of the key NAS market players are ASUSTOR Inc Buffalo Americas, Inc., Cisco Systems, Inc., Dell Technologies Inc., Hewlett Packard Enterprise Company (HPE), Hitachi, Ltd., Huawei Technologies Co., Ltd., Infortrend Technology Inc.,Nasuni Corporation., Netapp, Inc., Netgear, Inc., Panasas, Promise Technology. QNAP Systems Inc., Seagate Technology Public Limited Company (PLC), Softnas, Inc., Synology, Inc., Thecus Technology Corp. and Western Digital Corporation.