USD 89.79 Billion
Consumer Network Attached Storage (NAS) Market Size, Share, Growth Analysis, By End-user(Home, Business, Information Technology (IT) and Telecommunications sector, Retail and E-commerce), By Design(1-Bay, 2-Bays, 4-Bays, 5-Bays), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG50B2023 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
67
|Figures:
69
Consumer Network Attached Storage (NAS) Market Insights
Global Consumer Network Attached Storage (NAS) Market size was valued at USD 89.79 Billion in 2022 and is poised to grow from USD 96.19 Billion in 2023 to USD 138.11 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).
The surge in market growth can be directly linked to the escalating need for expanded data storage capacity and enhanced network sharing capabilities. Consumer Network Attached Storage (NAS) devices have emerged as a practical solution, offering a seamless means of accessing files stored on the drive from both mobile devices and PCs without the necessity of external drive connections. This convenience factor has significantly contributed to the widespread adoption of NAS devices across personal and business networks alike.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Information Technology (IT) and Telecommunications sector
Fastest Growth
Retail and E-commerce
Growth Rate
4.9% CAGR
Global Consumer Network Attached Storage (NAS) Market ($ Bn)
Country Share for North America Region (%)
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Consumer Network Attached Storage (NAS) Market Segmental Analysis
The global consumer network attached storage (NAS) market is segmented on the basis of end-user, design and region. Based on end-user the market is segmented as, home, business, information technology (IT) and telecommunications sector, retail and e-commerce . Based on design the market is segmented as, 1-bay, 2-bays, 4-bays, 5-bays, 6-bays, above 6 bays. Based on region, the market is segmented as, North America, Asia Pacific, Latin America, Europe, and MEA.
Analysis By Design
The 1-Bay segment in the consumer network attached storage (NAS) market assumes a pivotal role by catering to the storage needs of individuals and small-scale users. Characterized by its ability to accommodate a single hard drive, the 1-Bay NAS device emerges as a compact and cost-effective solution, perfectly suited for those with moderate data storage requirements.
The 2-Bay segment in the consumer network attached storage (NAS) market assumes a pivotal and versatile role, addressing the diverse storage needs of a wide range of users. Engineered to accommodate two hard drives, a 2-Bay NAS device stands out for its heightened storage capacity and enriched feature set when compared to its 1-Bay counterparts.
Analysis By End-User
The information technology (IT) and telecommunications sector have emerged as dominant forces within the industry, propelled by a notable surge in information and communication technology (ICT) infrastructure investments and increased spending by enterprises. As per the international data corporation (IDC) report, the year 2022 witnessed a significant milestone, with global ICT spending reaching USD 5.5 trillion.
The retail and e-commerce sector is experiencing sustained growth, marked by a steady upward trajectory. E-commerce companies, recognizing the expanding opportunities in the market, are making substantial investments, particularly in response to the surge in the generation of customers' data. The significant increase in the number of e-commerce companies, coupled with the rising trend of online shopping among customers, serves as a driving force behind this market growth.
Global Consumer Network Attached Storage (NAS) Market By End-user
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Consumer Network Attached Storage (NAS) Market Regional Insights
North America emerges as the dominant player, holding the largest share in the market during the forecast period. This leadership position can be primarily attributed to the presence of several key industry players, including but not limited to Buffalo Americas Inc., Dell Technologies Inc., Hewlett Packard Enterprise Company, and Western Digital Corporation.
Europe is poised for significant growth during the forecast period, with an anticipated surge in its growth rate. This can be attributed to the increasing proliferation of connected devices and a notable upswing in the generation of substantial volumes of data. A key contributing factor to this growth is Europe's remarkable adoption rates of fixed broadband connections, representing the region's commitment to digitalization in both business and consumer sectors.
Global Consumer Network Attached Storage (NAS) Market By Region
- Largest
- Fastest
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Consumer Network Attached Storage (NAS) Market Dynamics
Drivers
Rising Adoption of Network Attached Storage (NAS) Systems
- The rising adoption of Network Attached Storage (NAS) systems within enterprise environments is steering vendors towards the development of tailored NAS solutions designed specifically for businesses seeking comprehensive data management capabilities. This trend signifies a strategic response to the evolving needs of enterprises that view NAS not merely as a storage solution but as an integral component of their overall data management strategy.
Restraints
Rising Trend towards Cloud Adoption
- The escalating trend towards cloud adoption poses a potential challenge to the studied market's growth. Nevertheless, a promising avenue for growth lies in the integration of on-premise NAS with cloud storage solutions, a strategy expected to gain significant traction in the future. This integration not only addresses the challenges posed by cloud adoption but also offers a hybrid approach that combines the benefits of on-premise storage with the flexibility and scalability of the cloud.
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Consumer Network Attached Storage (NAS) Market Competitive Landscape
The competitive environment of the Global Consumer Network Attached Storage (NAS) Market Market is characterized by a dynamic interplay of key players and evolving strategies within the food processing industry. Innovation is a key competitive factor. smaller and niche players are making a notable impact by focusing on specialized solutions and offering customizable blends to cater to specific meat processing needs. This diversity within the market allows food processors to select tailored solutions that align with their specific requirements.
Top Player’s Company Profiles
- D-Link Corporation
- Drobo, Inc.
- EMC Corporation
- NEC Corporation
- Seagate Technology PLC
- Synology Inc.
- Western Digital Corporation
- Dell Technologies Inc.
- Hewlett Packard Enterprise Company (HPE)
- Hitachi, Ltd.
- Buffalo Americas, Inc.
Recent Developments
- In April 2023, Seagate Technology Holdings plc and QNAP Systems Inc., a prominent network attached storage (NAS) vendor, unveiled an integrated portfolio comprising edge-to-cloud enterprise storage solutions. This collaborative effort resulted in a range of innovative and scalable solutions designed for enterprise use. The portfolio features Seagate's IronWolf Pro Hard Drives (HDD), complemented by QNAP's high-capacity NAS solutions and Exos E series JBOD systems.
Consumer Network Attached Storage (NAS) Key Market Trends
Increasing Demand for Data Backup and Redundancy
- The surge in digital transformation across industries has given rise to an escalating demand for data backup and redundancy, consequently propelling the growth of the consumer network attached storage (NAS) market. As industries increasingly embrace digital technologies, the need for reliable data backup and storage solutions becomes paramount.
Consumer Network Attached Storage (NAS) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global consumer network attached storage (NAS) market analyses, the market is driven by a rapid surge in data volume and the escalating adoption of connected devices. The proliferation of data, propelled by factors such as digital content creation and the Internet of Things (IoT), is creating an unprecedented need for efficient and accessible storage solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 89.79 Billion |
| Market size value in 2031 | USD 138.11 Billion |
| Growth Rate | 4.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Consumer Network Attached Storage (NAS) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Consumer Network Attached Storage (NAS) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Consumer Network Attached Storage (NAS) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Consumer Network Attached Storage (NAS) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Consumer Network Attached Storage (NAS) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Consumer Network Attached Storage (NAS) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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