Global Network Attached Storage (NAS) Market is valued approximately USD 20.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.7 % over the forecast period 2020-2027. Network Attached Storage (NAS) is used for storage and retrieval of data from a centralized disk capacity. It is connected to local area network (LAN) and can be used by heterogeneous users at a time to store and access their data safely. These devices are controlled by the browser-based utility and are quite flexible and can be scaled out if additional storage is required. Network Attached Storage (NAS) are faster, user-friendly, having the high capacity at a fairly low cost. The global Network Attached Storage (NAS) is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown. So various companies are adapting Network Attached Storage (NAS) for operating their business efficiently. The government focus on digitization leading to massive growth in digital data, increased use of smartphones, laptops, and tablets resulting in generation of large volumes of data and rapid adoption of 4G and 5G technologies creating high-volume digital content are the factors responsible for the growth of the market over the forecast period. For instance: as per Statista, the global smart phone penetration rate was 33.5% in 2016 and is increased to 44.9% in 2020. Furthermore, the introduction of products and services and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 24th October 2019, Western Digital Corporation launched an array of purpose-built storage solutions for small businesses and home offices leveraging NAS environments. The solution consists of WD Red? SSDs, which enhance performance and caching abilities in a hybrid NAS environment, as well as a 14TB capacity for the WD Red and WD Red Pro HDDs. However, prime concern of data security when data is stored at remote location which is the major factor restraining the growth of global Network Attached Storage (NAS) market during the forecast period.
The regional analysis of global Network Attached Storage (NAS) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the presence of numerous small and mid-scale companies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Dell Technologies Inc.
Hewlett Packard Enterprise Company (HPE)
Western Digital Corporation
Seagate Technology Public Limited Company (PLC)
Buffalo Americas, Inc.
QNAP Systems Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Banking, Financial Services, and Insurance (BFSI)
Consumer goods and retail
Telecommunications and ITES
Education and research
Media and entertainment
Business and consulting
1Bay to 8 Bays
8 Bays to 12 Bays
12 Bays to 20 Bays
More than 20-bays
Enterprise NAS Solutions
Midmarket NAS Solutions
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Network Attached Storage (NAS) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers