Network Attached Storage Market size valued at USD 20 billion in 2022 and is poised to depict more than 15% CAGR between 2022 and 2030.

Network Attached Storage (NAS) Market Overview:

NAS systems can be used as home backup devices, mail servers, media streamers, video surveillance recorders, or website hosting devices for consumer-level applications. These systems are easy to install and provide an inexpensive storage and backup solution.

Network Attached Storage (NAS) market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Network Attached Storage (NAS) market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Major Segments Covered in Network Attached Storage (NAS) Market Research:

Market Key Players:
Dell Technologies Inc. (U.S.), Western Digital Corporation (U.S.), Synology, Inc.  (Taiwan), QNAP Systems, Inc. (Taiwan), NetApp, Inc. (U.S.), Hewlett Packard Enterprise Company (HPE) (U.S.), Hitachi, Ltd.  (Japan), Seagate Technology Public Limited Company (PLC) (U.S.), NETGEAR, Inc. (U.S.), Buffalo Americas, Inc. (U.S.)

By Type:

• High-end/Enterprise
• Midmarket
• Low-end

By Storage Solution:

• Scale-up NAS
• Scale-out NAS

By Application:

• Banking, financial services, and insurance (BFSI)
• Healthcare
• Retail & e-commerce
• IT & Telecom
• Automotive
• Others

By Region:

North America holds the largest share of the market during the forecast period. This is mainly attributed to several major players such as Buffalo Americas Inc., Dell Technologies Inc., Hewlett Packard Enterprise Company, Western Digital Corporation, etc. Increasing investment by private and public companies in wireless technology in the region drives the market growth. According to the Cellular Telecommunications Industry Association (CTIA), US-based wireless technology providers invested approximately $29.1 billion in 2019. In addition, several telecom companies have planned 5G network development projects nationwide. It has created a demand for advanced storage solutions to store the vast amounts of data generated by connected devices based on wireless technology.

Europe is expected to grow at a significant growth rate during the forecast period. This is due to the surge in the number of connected devices and the generation of significant amounts of data. Europe also has the highest rate of adoption of fixed broadband connections, driven by the increasing digitization of businesses and consumers. According to the 2020 International Telecommunication Union (ITU) report, Europe has the highest rate of fixed broadband subscriptions. According to the International Telecommunication Union (ITU), fixed broadband penetration in Europe was 32.9% in 2020, up from the global average of 15.2%. Growing internet penetration worldwide coupled with surge in fixed broadband connections from central locations in European countries has increased the demand for network attached storage products and solutions.

Asia Pacific is projected to grow at a significant CAGR and represents lucrative opportunities for market growth during the forecast period. This is primarily due to the growing adoption of connected devices such as smartphones. IoT devices drive market growth across regions. According to a GSMA Intelligence report, IoT device sales are projected to reach 11 billion units by 2025 and be worth US$386 billion by 2025 in the APAC region. This increase in IoT connectivity is expected to create lucrative opportunities for market growth.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Driver:

The personal computer (PC) or enterprise desktop was the primary data generation source in the early days. Rapid globalization and changing lifestyles and work patterns have made smartphones, laptops and tablets a necessity of life. The surge in the use of these devices around the world indicates that digital devices are at a peak in popularity. Likewise, advances in technology have brought many new devices to the market, such as Alexa (voice-enabled devices), consumer wearables, smart devices, 3D smart glasses, and augmented and virtual reality (AR/VR) products. These devices generate large amounts of data through various applications, financial transactions, online shopping, and more. Most people spend almost 5-6 hours on mobile apps every day. This increases data volume and internet usage, leading to exponential growth of big data and consequently increasing demand for NAS solutions.

Restraint:

A major factor limiting the adoption of NAS solutions is poor performance and problems with expanding system capacity compared to Storage Area Network (SAN) and Direct Attached Storage (DAS). NAS has limited resources. As the number of NAS users accessing the NAS system increases, it slows down and causes performance-related issues. These systems cannot scale or scale quickly due to the requirements for dedicated NAS protocols such as Server Message Block (SMB) and Network File System (NFS). These protocols are not fast enough for high performance applications due to high latency and low throughput issues. Also, NAS is network dependent and files are shared over a local area network (LAN). This LAN network transfers data from one location to another via data pockets by dividing the data into parts and sending them to any terminal. However, if the data packets are delayed or sent out of order, the file may not open properly.

Opportunity:

The growth of unstructured data sets is a result of increasing internet use. This unstructured data is in the form of an audio file, video or image. However, storing this data safely and reliably has become a daunting task. With the rapid growth of data generation, cloud storage has become a necessity. A hybrid NAS solution is a combination of a traditional NAS device and cloud storage. You can create a virtual database that stores information in a single volume and can be accessed from anywhere. As a result, replication, remote mirroring, and data security are improved. Data compression can also be used to minimize space. With the help of hybrid NAS, companies can efficiently share and manage important data. As data volumes increase, interest from customers and organizations is shifting toward adopting hybrid NAS.

Challenge:

Currently, the world is moving towards digitization. Thus, data has emerged as a new and valuable asset. Growing volumes of data put pressure on companies to ensure they have the right infrastructure in place to protect and utilize the data they generate. In case of inadequate or insufficient infrastructure, there is a threat of data loss or theft. Sometimes implementing the proper infrastructure is more expensive for businesses. However, as the demand for data security increases, organizations must plan for appropriate infrastructure investments.

Additionally, instances such as telecommuting and hybrid work policies are making it difficult for IT teams to set up an infrastructure that provides smooth and seamless business operations at user locations. Therefore, lack of proper infrastructure is a major challenge for NAS market growth. Organizations must invest in infrastructure improvements to overcome these challenges.

Network Attached Storage (NAS) Market report scope:

Report Attributes	Details
Growth Rate	CAGR of 15% from 2022 to 2030.
By Type	High-end/Enterprise, Midmarket, Low-end
By Application	Banking, financial services, and insurance (BFSI), Healthcare, Retail & e-commerce, IT & Telecom, Automotive, Others
By Companies	Dell Technologies Inc. (U.S.), Western Digital Corporation (U.S.), Synology, Inc.  (Taiwan), QNAP Systems, Inc. (Taiwan), NetApp, Inc. (U.S.), Hewlett Packard Enterprise Company (HPE) (U.S.), Hitachi, Ltd.  (Japan), Seagate Technology Public Limited Company (PLC) (U.S.), NETGEAR, Inc. (U.S.), Buffalo Americas, Inc. (U.S.)
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Important Points from this Network Attached Storage (NAS) Market Report

• Estimate Network Attached Storage (NAS) market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Network Attached Storage (NAS) market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Network Attached Storage (NAS) market?

The Network Attached Storage (NAS) Market is growing at a CAGR of 15% During the Forecast Period.

What are the key types of Network Attached Storage (NAS) market?

High-end/Enterprise, Midmarket, Low-end

What are the key applications of Network Attached Storage (NAS) market?

Banking, financial services, and insurance (BFSI), Healthcare, Retail & e-commerce, IT & Telecom, Automotive, Others

Who are the key players in Network Attached Storage (NAS) market?

Dell Technologies Inc. (U.S.), Western Digital Corporation (U.S.), Synology, Inc.  (Taiwan), QNAP Systems, Inc. (Taiwan), NetApp, Inc. (U.S.), Hewlett Packard Enterprise Company (HPE) (U.S.), Hitachi, Ltd.  (Japan), Seagate Technology Public Limited Company (PLC) (U.S.), NETGEAR, Inc. (U.S.), Buffalo Americas, Inc. (U.S.)