Selbyville, Delaware,, Jan. 19, 2023 (GLOBE NEWSWIRE) --
The network attached storage market valuation is expected to surpass USD 100 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing awareness of efficient data storage systems is a prominent driver for the market 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 network attached storage market revenue.
The 1-bay to 8-bay design segment is slated to record CAGR of 15% through 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.
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The network attached storage market from the hybrid deployment model segment is expected to witness over 20% CAGR till 2032, owing to 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.
Business application segment accounted for 85% revenue share of the network attached storage market in 2022, due 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.
The North America network attached (NAS) storage market held around USD 9 billion revenue in 2022, attributed 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.
Major players involved in the network attached storage market are 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. These companies are incorporating strategies such as new solution launches to expand their portfolio and business footprint in the business scenario.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 NAS industry 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Architecture trends
2.5 Design trends
2.6 Deployment model
2.7 Application trends
Chapter 3 Network Attached Storage Market Insights
3.1 Introduction
3.2 Impact on COVID-19 impact
3.3 Russia- Ukraine war impact on NAS industry
3.4 Evolution of NAS
3.5 NAS industry ecosystem analysis
3.5.1 Networking hardware providers
3.5.2 Cloud service providers
3.5.3 System integrator
3.5.4 End-users
3.6 NAS architecture
3.7 SAN vs NAS storage
3.8 Technology & innovation landscape
3.8.1 All flash and hybrid flash arrays
3.8.2 Multiprotocol unified storage
3.9 Patent analysis
3.10 Investment portfolio
3.11 News
3.11.1 North America
3.11.2 Europe
3.11.3 Asia Pacific
3.11.4 Latin America
3.11.5 MEA
3.12 Regulatory landscape
3.13 Impact forces
3.13.1 Growth drivers
3.13.1.1 Increase in Big Data analytics and data mining applications
3.13.1.2 Growing popularity of NAS for home/consumer applications
3.13.1.3 Rising adoption of Cloud NAS file storage as a service
3.13.1.4 Surging digitalization across various industry verticals
3.13.2 Industry pitfalls & challenges
3.13.2.1 Concerns regarding data security
3.13.2.2 Concerns regarding bandwidth performance for remotely hosted NAS
3.14 Growth potential analysis
3.15 Porter’s analysis
3.16 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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