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Over the years, there have been many improvements in how we store data due to the increase in the amount of data and advancements in technology. One such method is Network-Attached Storage (NAS), which involves using storage devices connected to the network through USB or Ethernet ports. These devices are given an IP (Internet Protocol) address, allowing them to be directly accessed from the user's device. NAS serves as a centralized data repository, allowing users to access data at the file level from any operating system while ensuring secure data management.
Additionally, NAS devices are not reliant on network servers for connectivity, so they are not affected by network or server downtimes. The global market for Network-Attached Storage (NAS) was valued at USD 15,021.3 million in 2017 and is projected to reach USD 44,595.7 million by 2023, with a compound annual growth rate (CAGR) of 20.08%. This market is segmented based on product, storage solution, organization size, deployment, vertical, and region. In terms of product, the global NAS market includes high-end/enterprise NAS, midmarket NAS, and low-end/desktop NAS. Storage solutions are categorized as scale-out NAS and scale-up NAS. Organization size segments consist of small, medium, and large enterprises. Deployment options include on-premise, hybrid, and cloud deployment.
The market is further categorized by verticals, including IT & telecommunication, BFSI, retail, government, manufacturing, media & entertainment, healthcare, energy & utilities, and others. The growth of the global NAS market is expected to be driven by the increasing demand for secure data storage devices for various applications and the rising popularity of NAS in residential and small office or home office (SOHO) environments. Opportunities arise with the growing Bring Your Own Device (BYOD) trend across enterprises.
However, the potential security issues associated with data stored at remote locations are expected to hinder market growth during the review period. Key players in the global NAS market include Dell EMC, HPE, IBM Corporation, Hitachi Data Systems Corp., Netapp Inc., Seagate Tech, Cisco Systems Inc., Western Digital Corp., Netgear Inc., QNAP Systems Inc., Synology Inc., Buffalo Americas Inc., and Space Monkey. In summary, Network-Attached Storage has evolved over the years, providing a reliable and accessible method for data storage. The global NAS market is witnessing significant growth, driven by factors such as the demand for secure storage solutions and the increasing use of NAS in various sectors. Despite challenges related to security issues, the market is expected to continue its upward trajectory, offering opportunities for both established players and new entrants.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 17.7% (2022-2032 Base Year 2020 Forecast Period 2020-2030 Historical Data 2018 Forecast Units Value (USD Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By Product, Organization Size Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors Synology, Inc. (Taiwan), NETGEAR, Inc. (US), Buffalo Americas (US), Dell EMC (US), Seagate Technology PLC. (US), Hewlett-Packard Enterprise Company (US), Western Digital Corporation (US), Hitachi Data Systems Corporation (US), NetApp, Inc. (US), and QNAP Systems, Inc. (Taiwan). Key Market Opportunities The rising adoption of 4G and 5G technologies is likely to offer robust opportunities to market players in the near future. Key Market Drivers An increase in the use of big data analytics & data mining applications is likely to bolster market growth over the forecast period. |
Network-Attached Storage Market Highlights:
Network-Attached Storage (NAS) Market Overview
The network attached storage (NAS) market size is expected to reach USD 94.567 billion, growing at a CAGR of 17.7% during 2024 - 2032.
For diverse customers, approved network consumers, and authorized network operators, NAS provides a retrieving and storage building for data from a centralized place. The growing demand for protected storage devices for different end-use industries is driving the market's robust development.
The administration's focus on digitalization, which would be leading to massive increase in digital data, is projected to fuel the growth of the network-attached storage (NAS) market during the forecast timeframe. Moreover, the increased use of cellphones, computers, and laptops, which results in the production of huge amounts of data, is expected to push the network-attached storage (NAS) market forward. Furthermore, the market for network-attached storage (NAS) is expected to benefit from the increasing adoption of 4G and 5G innovations that produce high-volume electronic documents. The primary concerns about data security when data is kept at a distant place, but at the other hand, were expected to stymie the development of a network-attached storage (NAS) market during the forecast period.
This report contains all the information on the global Network-Attached Storage (NAS) Market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Network-Attached Storage (NAS) Market forecast for 2023 is also included in the report.
Figure 1: Network-Attached Storage (NAS) Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Network-Attached Storage (NAS) Market Covid 19 Analysis
Several sectors have already been affected by the current COVID-19 epidemic. Key suppliers are taking proactive steps to reduce their economic effect on companies. The income from hard disc drives has increased throughout this epidemic. Despite a drop in deliveries as a result of the global government shutdown, leading network-attached storage firms have raised their selling prices to compensate for the income shortfall. Furthermore, the trend of working from home has forced workers to store data in network-attached storage solutions, which is fueling the market's development.
Network-Attached Storage (NAS) Market Dynamic
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Drivers:
From over projected period, a rise in the usage of large data analytics and machine learning applications is expected to boost market development. Big data has become a crucial component of any business as a result of the increasing use of data analytics, resulting in larger-scale storage problems. To manage the massive quantities of data produced by businesses, big scale-up storage frameworks like NAS need to be installed to provide the required bandwidth requirement.
The increasing popularity of NAS for apartment buildings and SOHO surroundings, the increasing BYOD trend all over organizations, the formation of high-volume online content, the increasing use of tablet devices, laptop computers, and cell phones producing huge amounts of data, the increasing distribution of hybrid cloud services, a need for redundant systems and data backup, as well as the increasing use of laptops, computers, and cell phones producing huge amounts of data are all contributing to the global network-attached storage market growth.
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Opportunities:
The increasing adoption of hybrid cloud services is also increasing demand for cutting-edge network-attached storage (NAS) systems, which will offer further opportunities for the development of the network-attached storage (NAS) market opportunities mostly in future years, among other things.
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Restraints:
Ongoing security concerns about the data storage in distant places may serve as a market constraint throughout the course of the projection period.
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Challenges:
Moreover, the lack of enough equipment to exploit and protect data may provide a significant challenge to the expansion of the network-attached storage (NAS) industry in the foreseeable future, limiting the market's potential development.
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Cumulative Growth Analysis:
During the projection period, the APAC region is expected to have the 2nd largest share of the worldwide network-attached storage market, behind only North America. The growing application of NAS and SSD drives for better data safety and support against any violation, a thriving IT and telecommunications industry, the increase due to the implementation of cellphones, and the increasing popularity of the internet are all contributing to the expansion of the market home NAS market in the region.
Furthermore, improvements in communications infrastructure, an increase in the use of mobile devices, an increase in the preference of consumers to share multimedia content through a technique that is readily available, quick, and premium, as well as the existence of emerging countries such as India and China, are all contributing to market growth and expansion.
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Value Chain Analysis:
According to the reports, there are many segments in the network-attached storage (NAS) market, including end-users, deployment types, storage capacity, and types. The NAS industry has been divided into three types: consumer-level NAS, enterprise-level NAS storage, and small- to medium-sized business-level NAS storage. From over projection period, the small-medium business-level NAS sector is expected to outperform the rest of the NAS market in terms of revenue. The network-attached storage industry is divided into three categories based on storage solutions: scale-out, scale-up, and many others. Over the projected period, the scale-up category will account for the lion's portion of the market.
The network-attached storage (NAS) industry is divided into four categories based on deployment: hybrid, remote, on-premise, and others. Over the projection period, the hybrid segment will be the most dominant sector in the market. The network-attached storage industry is fragmented based on end-user, including telecommunications and information technology, business and financial services, healthcare, government, and other segments. Of all these, the BFSI sector will account for the lion's share of total market revenue throughout the projected period.
Network-Attached Storage (NAS) Market Segmentation Overview
The market is segmented on the basis of end-users, deployment types, storage capacity, types, and area. The global network-attached storage (NAS) market trend is expected to witness decent growth during the forecast period.
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By Application:
Based on the application, the network-attached storage market is segmented into hybrid, remote, on-premise, and others.
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By End-Users:
Based on the propulsion types, the network-attached storage market is segmented into telecommunications and information technology, business and financial services, healthcare, government, and others.
Network-Attached Storage (NAS) Market Regional Analysis
According to the reports, on the basis of region, the worldwide network-attached storage (NAS) market revenue is divided into four sections: Europe, Asia Pacific (APAC), North America, and the Rest of the World. Each section discusses the possibilities and current developments in each area. North America will be the most dominant region in the market during the projected period.
The existence of many network-attached storage market players in the United States, including Google, Box Inc., Cisco Systems Inc., and Dell EMC, as well as the involvement of many companies, increasing demands between many small and medium-sized enterprises, unprecedented advancement of data, increasing adoption of IoT, rigorous data related to regulatory conformance, and rapid adoption of technological innovations are all contributing to the region's network-attached storage (NAS) market share. Additional factors influencing the development of the consumer network-attached storage (NAS) industry in the region include expansion typically in cloud-based options for sharing individual and company files, as well as increasing investments in technology by notable players to improve unified big data systems that deliver improved capabilities.
Network-Attached Storage (NAS) Market Competitive Landscape
Globally Distributed Network-Attached Storage In addition to the existence of many major companies, the market is extremely fragmented and combative in character. They have used tactics like acquisitions and mergers, collaborations and alliances, joint ventures, regional developments, and innovative product releases to meet the growing demands of customers while also staying one step ahead of the competitors.
Network-Attached Storage (NAS) Market Major Key Players
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Space Monkey (US)
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Buffalo Americas Inc. (Japan)
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Synology Inc. (Taiwan)
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QNAP Systems Inc. (Taiwan)
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Netgear Inc. (US)
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Western Digital Corp. (US)
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Cisco Systems Inc. (US)
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Seagate Technology Public Limited Company (Ireland)
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Netapp Inc. (US)
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Hitachi Vantara Corporation (US)
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IBM Corporation (US)
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HPE (US)
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Dell EMC (US)
Report Overview
The following report comprises of –
- Market overview
- Covid 19 Analysis
- Market Dynamic
- Drivers
- Opportunities
- Restraints
- Challenges
- Cumulative Growth Analysis
- Value Chain Analysis
- Segmentation Overview
- By Application
- By End-Users
- Regional Analysis
- Competitive landscape
Recent Developments
The new 5-bay Synology DiskStation DS1522+ was introduced by Synology Inc. in June 2022. It is the latest compact approach within the company’s plus series of all-in-one storage devices that help professionally and securely maintain data, IT infrastructure, and physical property for customers of any size while running a wide range of business, IT administration and productivity applications.
In July 2021, QNAP, Taiwan-based network-attached-storage (NAS) manufacturer announced that it had rectified a critical security flaw that could have compromised security of its NAS devices. The bug was discovered by TXOne IoT/ICS Security Research Labs in HBS 3 Hybrid Backup Sync – QNAP’s disaster recovery and data backup solution – CVE -2021 - 28809 (TXOne Solutions & Technologies Co., Ltd., n. d). The vulnerability was caused by faulty software which does not prevent attackers from accessing system resources allowing them to execute arbitrary commands with elevated privileges or gain unauthorized access to sensitive information..
June 2021 - The Unity XT hybrid Storage Systems from Dell EMC are built for at least five nines availability as well as sufficient raw performance to ensure controllers don’t become the limiting factor allowing users scale as they need to keep up with application IOPS, latency and capacity growth. Unity XT hybrid array IO can be boosted with FAST Cache or SSD Read Cache which provides flash-like performance but uses cheaper MLC flash drives.
March 2021- HITACHI VSP 5000 was unveiled as the world’s fastest NVME flash array known for its versatility in handling diverse workloads including mainframe-to-container containerization support. It comes with appropriate sizing capacities and service levels. This is implemented with mixed NVMe and SAS to optimize performance and workload cost. Robust virtualization brings power to legacy systems. It offers an easy-to-implement move to NVMe over Fabrics (NVMe-oF) and SCM.
The new 5-bay Synology DiskStation DS1522+ was introduced by Synology Inc. in June 2022. It is the latest compact approach within the company’s plus series of all-in-one storage devices that help professionally and securely maintain data, IT infrastructure, and physical property for customers of any size while running a wide range of business, IT administration and productivity applications.
In July 2021, QNAP, Taiwan-based network-attached-storage (NAS) manufacturer announced that it had rectified a critical security flaw that could have compromised security of its NAS devices. The bug was discovered by TXOne IoT/ICS Security Research Labs in HBS 3 Hybrid Backup Sync – QNAP’s disaster recovery and data backup solution – CVE -2021 - 28809 (TXOne Solutions & Technologies Co., Ltd., n. d). The vulnerability was caused by faulty software which does not prevent attackers from accessing system resources allowing them to execute arbitrary commands with elevated privileges or gain unauthorized access to sensitive information..
June 2021 - The Unity XT hybrid Storage Systems from Dell EMC are built for at least five nines availability as well as sufficient raw performance to ensure controllers don’t become the limiting factor allowing users scale as they need to keep up with application IOPS, latency and capacity growth. Unity XT hybrid array IO can be boosted with FAST Cache or SSD Read Cache which provides flash-like performance but uses cheaper MLC flash drives.
March 2021- HITACHI VSP 5000 was unveiled as the world’s fastest NVME flash array known for its versatility in handling diverse workloads including mainframe-to-container containerization support. It comes with appropriate sizing capacities and service levels. This is implemented with mixed NVMe and SAS to optimize performance and workload cost. Robust virtualization brings power to legacy systems. It offers an easy-to-implement move to NVMe over Fabrics (NVMe-oF) and SCM.
QNAP Systems Inc. launched the QTS 4.4.2 NAS operating system in April 2020, replacing the QTS 4.4.2. QTS 4.4.2 not only improves system privacy and storage scaling, and it also improves storage extensibility by including physical JBOD devices to meet the demands of storing files and restoration applications.
NetApp Inc. purchased Talon Storage (US), a pioneer in next-generation software-defined storage solutions, in March 2020. The acquisition would allow global businesses to centralize and simplify IT storage infrastructure while also using public cloud computing services.
By Types:
- Consumer-level NAS
- Enterprise level NAS storage
- Small-medium business-level NAS
By Storage Solution:
- Scale-out
- Scale-up
- Others
By Deployment:
- Hybrid
- On-premise
- Remote
- Others
By End-User:
- Telecommunication and IT
- BFSI
- Government
- Healthcare
- Others
By Region:
North America:
- US
- Canada
- Mexico
Europe:
- UK
- Germany
- France
- Rest of Europe
Asia Pacific (APAC):
- China
- Japan
- India
- South Korea
- Rest of APAC
Rest of the World (RoW):
- Middle East &Africa
- South America
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