“Network attached storage (NAS) market is expected to grow at CAGR of 15.7% from 2020 to 2025”
The global NAS market is projected to grow from USD 23.2 billion in 2020 to USD 48.0 billion by 2025, at a CAGR of 15.7%. The rapid adoption of 4G and 5G technologies is one of the key factors fueling the growth of this market.
“The market for NAS solutions with more than 20 bays is expected to grow at highest CAGR during forecast period”
The market for NAS solutions with more than 20 bays is projected to grow at the highest CAGR during the forecast period. These NAS systems have features such as high storage capacity, high performance, fast response, and data recovery; hence, these solutions are deployed in big industries, such as BFSI, manufacturing, large enterprises, and telecommunications and ITES where the data volumes are high and increasing on a regular basis.
“ The midmarket NAS solutions held larger market share in 2019”
Midmarket NAS solutions held a larger market share in 2019, and a similar trend is likely to be observed in the near future. The increased use of smart devices such as smartphones and tablets led to the rise of digital media. Consumers use NAS systems for home surveillance solutions, backup systems, and media streaming devices. Moreover, midmarket NAS solutions are ideal and inexpensive solutions for small- and mid-sized businesses.
“NAS market for scale-out NAS solutions is expected to grow at higher CAGR during forecast period”
The market for scale-out NAS solutions is projected to grow at a higher CAGR during the forecast period. Scale-out is an improved technique used in NAS devices, enabling the expansion of the capacity based on the requirement of end-use applications. These are deployed in industries such as BFSI, healthcare, and government, wherein a large volume of data is generated and data security is of utmost importance.
“North America held largest share of NAS market in 2019”
In 2019, North America accounted for the largest share of the NAS market. The growth of the NAS market in North America can be attributed to the fact that the region is home to leading producers such as Dell Technologies Inc., NetApp, Inc., and HEWLETT PACKARD ENTERPRISE COMPANY (HPE), as well as major consumers such as Syracuse University, UNICOM Global, Tufts University, and Linn Benton Lincoln of NAS solutions.
Breakdown of profiles of primary participants:
- By Company: Tier 1 – 25%, Tier 2 – 35%, and Tier 3 – 40%
- By Designation: C Level – 35%, Managers – 25%, and Others – 40%
- By Region: North America – 25%, Europe – 42%, APAC – 21%, and RoW – 11%
Major players profiled in this report:
- Dell Technologies Inc. (US)
- NetApp, Inc. (US)
- HEWLETT PACKARD ENTERPRISE COMPANY (HPE) (US)
- Hitachi, Ltd. (Japan)
- WESTERN DIGITAL CORPORATION (US)
- SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY (PLC) (US)
- NETGEAR, Inc. (US)
- Synology, Inc. (Taiwan)
- Buffalo Americas, Inc. (US)
- QNAP Systems, Inc. (Taiwan)
This report offers detailed insights into the NAS market based on design, product, storage solution, deployment type, end-user industry, and region. Based on design, the NAS has been segmented into 1 bay to 8 bays, 8 bays to 12 bays, 12 bays to 20 bays, and more than 20 bays. Based on product, the NAS market has been classified into enterprise NAS solutions and midmarket NAS solutions. Based on storage solution, the market has been segmented into scale-up and scale-out. Based on deployment type, the market has been segmented into on-premises, remote, and hybrid NAS solutions. Based on end-user industry, the market has been segmented into BFSI, consumer goods and retail, telecommunications and ITES, healthcare, energy, government, education and research, media and entertainment, manufacturing, business and consulting, and others (aerospace & defense, automotive, food processing, and logistics). The market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons To Buy the report
The report is expected to help market leaders/new entrants in this market in the following ways:
- This report segments the NAS market comprehensively and provides the closest approximations of the overall size of the market, as well as its segments and subsegments.
- The report is expected to help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
- This report aims at helping stakeholders in obtaining an improved understanding of their competitors and gaining insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem of the market, as well as growth strategies such as product launches expansions, partnerships, contracts, collaborations, agreements, and acquisitions adopted by major market players