Network Attached Storage Market Size to Touch USD 100.81 Billion, Growing at a 16.87 percent CAGR by 2030 – Report by Market Research Future (MRFR)

Market Research Future Insights

According to MRFR analysis, the Network-Attached Storage (NAS) Market size is anticipated to expand at a 16.87% CAGR between 2020 and 2030 to reach USD 100.81 billion.The Network-Attached Storage (NAS) market research provides a comprehensive analysis of the current and projected landscape of NAS solutions, focusing on their deployment across various industries and consumer segments. NAS has emerged as a versatile and cost-effective storage solution, enabling users to access, manage, and share data efficiently over a network.

Additionally, the research analyzes the impact of technological advancements and the growing adoption of cloud-based NAS solutions on market trends. The report investigates the regional variations in NAS adoption, considering factors such as economic conditions, technological infrastructure, and regulatory environment. Moreover, the study also addresses the challenges faced by the NAS market, such as data security concerns and potential interoperability issues.

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Market Scope:

During the projection period, the market for network-attached storage will see significant growth due to the expanding use of big data analytics as well as the rising adoption of 5G and 4G technologies.

Dominant Key Players on Network Attached Storage Market Covered are:

• 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)
• QNAP Systems Inc. (Taiwan)

Market USP Exclusively Encompassed:

Market Drivers

Growing Popularity amid SMEs across Different End-User Industries to Boost Market Growth

Network connected storages are popular in small and medium-sized businesses because they are easy to set up for tiny workplaces. It directly stores the necessary data on external hard drives. Users can easily access data in this storage system using a network connection. The servers enable enterprises to better client services, broaden their collaborative reach, and achieve a substantial competitive advantage. These solutions are straightforward, enable low-cost, simple, and reliable data centralization, as well as simple data backup. These explanations will help firms implement these methods more frequently. So, during the course of the projection period, the market for network-attached storage will rise as NAS becomes more and more popular among SMEs.

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Segmentation of Market Covered in the Research:

The global network attached storage market is bifurcated based on vertical, deployment, organization size, storage solution, and product.

• By product – the midmarket NAS will lead the network-attached storage market over the forecast period.
• By storage solution – scale-up NAS will dominate the network-attached storage market over the forecast period.
• By organization size – SMEs will spearhead the network-attached storage market over the forecast period.
• By deployment – hybrid will have the lions share in the market over the forecast period.
• By vertical – retail will precede the market over the forecast period.

COVID-19 Impact on the Global Network Attached Storage Market

The COVID-19 pandemic has increased demand for cloud-based solutions as a result of organizations’ embrace of remote working practices. Additionally, the epidemic has sped up the growth of data usage. Businesses across a range of end-user industries, particularly telecom firms in developing economies, have seen a spike in data usage as a result of governmental data limitations. Currently, businesses are searching for a dependable and secure data storage solution. Furthermore, the COVID-19 pandemic has brought about an unprecedented and unpredictable state of emergency on several fronts. In these difficult times, data has helped firms make smarter decisions.

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Regional Analysis

APAC to Command Network Attached Storage Market

The network attached storage market in APAC is anticipated to grow at the quickest CAGR over the course of the forecast period due to the abundance of small and mid-scale businesses in the region. The NAS industry in these nations is also being driven by these corporations’ growing investments in the creation of IT infrastructure. Asia Pacific is anticipated to expand at a significant CAGR throughout the projected period, offering encouraging potential for market expansion. This is mainly due to the rising use of connected devices like smartphones. IoT gadgets are fueling regional market expansion.

North America to Have Admirable Growth in Network Attached Storage Market

Over the course of the forecast, the network attached storage market in North America will experience commendable growth. This is mostly the fault of a number of significant businesses, including Dell Technologies Inc., Buffalo Americas Inc., Western Digital Corporation, Hewlett Packard Enterprise Company, and others. The market is expanding as a result of increased investment in wireless technology by local governmental and private businesses. Approximately USD 29.1 billion was invested by US wireless technology providers in 2019, according to the Cellular Telecommunications Industry Association (CTIA). Also announcing intentions to establish 5G networks across the nation are a number of telecom firms. It spawned a need for advanced storage systems to manage the significant amounts of data produced by wirelessly connected devices.

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