USD 17.39 billion
Network Attached Storage Market Size, Share, Growth Analysis, By Design(1–8 Bays, 8–12 Bays, 12–20 Bays, More Than 20 Bays), By Product(Enterprise NAS Solutions, Midmarket NAS Solutions), By Storage Solution(Scale-Up NAS, Scale-Out NAS), By Deployment Type(On-Premises, Remote/Cloud, Hybrid), By Component(Hardware, Software), By End-User Industry(Banking, Financial Services, And Insurance (BFSI), Consumer Goods & Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2123 |
Region:
Global |
Published Date: October, 2024
Pages:
165
|Tables:
119
|Figures:
77
Network Attached Storage Market Insights
Global Network Attached Storage Market size was valued at USD 25.5 billion in 2022 and is poised to grow from USD 28.64 billion in 2023 to USD 72.44 billion by 2031, growing at a CAGR of 12.3% during the forecast period (2024-2031).
Rapid surge in data generation around the world on the back of increasing digital transformation is projected to bolster the demand for network attached storage systems and solutions in the future. Increasing number of remote workers and high adoption of bring your own device (BYOD) policies in multiple organizations are also expected to boost network attached storage market growth in the future. Easy deployment of network attached storage solutions and highly cost-effective nature of the same are also estimated to create new opportunities for network attached storage providers over the coming years. Increasing incidence of data breaches and cyberattacks around the world have bolstered the importance of data backup and recovery solutions thereby promoting network attached storage market growth potential as well. High adoption of network attached storage solutions and services in the media and entertainment industry will also bolster market development going forward. However, network bandwidth limitations, complexity in scalability of certain network attached storage models, and high competition from cloud storage are slated to slow down the adoption of network attached storage in the long run.
US Network Attached Storage Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Scale-up NAS
Fastest Growth
Scale-up NAS
Growth Rate
15% CAGR
Global Network Attached Storage Market, 2024-2031 ($ Bn)
Country Share for North America Region-2024-2031(%)
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Network Attached Storage Market Segmental Analysis
Global Network Attached Storage Market is segmented by Design, Product, Storage Solution, Deployment Type, Component, and region. Based on Design, the market is segmented into 1–8 Bays, 8–12 Bays, 12–20 Bays, and More Than 20 Bays. Based on Product, the market is segmented into Enterprise NAS Solutions, Midmarket NAS Solutions. Based on Storage Solution, the market is segmented into Scale-Up NAS, and Scale-Out NAS. Based on Deployment Type, the market is segmented into On-Premises, Remote/Cloud, and Hybrid. Based on Component, the market is segmented into Hardware, and Software. Based on End-User Industry, the market is segmented into Banking, Financial Services, And Insurance (BFSI), Consumer Goods & Retail, Telecommunications & ITEs, Healthcare, Energy, Government, Education & Research, Media & Entertainment, Manufacturing, and Business & Consulting, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Network Attached Storage Market Analysis by Storage Solution
Scale up network attached storage solutions are projected to bring in the most revenue for companies and contribute significantly to the global network attached storage market size going forward. Scale up storage solutions use a traditional approach of adding more devices to support the increasing needs for data backup, storage, and management of an organization. The approach is also known as vertical scaling. This type of solution is feasible for companies with a minimal increase in long-term storage and wherein file sizes keep on increasing. However, the share of this segment is projected to be hampered by the limited scalability of scale up network attached storage solutions.
Meanwhile, the demand for scale out network attached storage solutions is estimated to rise at an impressive pace in the future. Easy scalability and high flexibility of scale out network attached storage solutions are helping them gain massive popularity across multiple industry verticals going forward. Minimal lag, high reliability, easy and low cost set-up, and extensive scope of personalization are key factors that are slated to help generate new business scope for market players via this segment. Moreover, the better performance and data workload management capabilities for end users also makes this a highly attractive choice for end users going forward.
Network Attached Storage Market Analysis by Product
Midmarket network attached storage solutions are predicted to hold the largest network attached storage market share over the coming years. Growing digitization of small and medium enterprises and increasing demand for better data storage and management solutions in the same are expected to bolster the demand for midmarket network attached storage solutions in the future. The growing availability of affordable midmarket network attached storage offerings is also estimated to help generate new opportunities for market players across the study period and beyond. Presence of a strong start-up ecosystem in countries such as India and China will also present highly rewarding new opportunities for network attached storage providers through 2031.
On the other hand, the demand for enterprise network attached storage is slated to increase at a notable pace in the long run. The growing volume of data generated by large enterprises and increasing need for better data storage are slated to help this segment generate new opportunities in the future. Growing availability of custom enterprise network attached storage solutions and systems will also help this segment boost revenue generation for companies across the network attached storage market outlook. Large tech companies in developed and developing countries are projected to help this segment boost market development over the coming years.
Global Network Attached Storage Market By Storage Solution, 2024-2031 (%)
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Network Attached Storage Market Regional Insights
North America is slated to account for the largest share of the global network attached storage market forecast. The presence of a strong technological infrastructure, growing data generation, and high adoption of advanced technologies are projected to aid the dominance of this region going forward. The availability of strong low latency networks and the presence of key network attached storage providers will also contribute to the dominance of this region. Canada and the United States are slated to be the most opportune markets for any network attached storage provider operating in North America through 2031. Growing investments in the development of new 5G networks will also create new business scope.
Increasing deployment of 5G network technology and rapid digital transformation are slated to help Asia Pacific establish itself as the fastest growing market in the world. Rapidly increasing use of IoT devices, growing data generation, and rising need for better data storage and management solutions are slated to be key opportunities for network attached storage companies to explore in this region going forward. India, Japan, China, and Korea are slated to be the most rewarding markets for all network attached storage companies operating in this region. As per this network attached storage market analysis, high demand for artificial intelligence technologies and offering in this region will also offer new revenue generation potential for companies going forward.
Global Network Attached Storage Market By Geography, 2024-2031
- Largest
- Fastest
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Network Attached Storage Market Dynamics
Network Attached Storage Market Driver
Growing Data Generation Across Multiple Industry Verticals
- Increasing digital transformation of multiple industry verticals has led to high data generation. Network attached storage solutions provide scalable and accessible storage, enabling companies to manage, store, and retrieve data more efficiently as the volume of data keeps on rising thereby driving network attached storage market growth potential in the future.
Increasing Adoption of BYOD Trend
- As remote work has gained massive popularity around the world, the adoption of the bring your own device (BYOD) trend has also picked up quite impressively. Network attached storage provides a flexible and secure platform for remote access, enabling employees to access data without compromising security in this increasingly popular remote work environment across different organizations.
Network Attached Storage Market Restraints
Network Bandwidth Limitations
- Performance of network attached storage systems is highly dependent on network bandwidth, which means high data traffic could impact the performance of network attached storage. Organizations with limited network bandwidth will particularly be impacted by this restraint and further impede the overall network attached storage market outlook in the long run.
Competition from Cloud Storage
- Network attached storage is facing fierce competition from the massive upsurge in popularity of cloud technologies and solutions. Cloud storage is emerging as a convenient alternative to network attached storage owing to its remote hosting and maintenance features. Advancements in cloud technologies are estimated to hurt the demand for network attached storage in the future.
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Network Attached Storage Market Competitive Landscape
Network attached storage companies are focusing on launching new solutions and services to stay competitive in the global network attached storage industry. Reducing complexity of network attached storage scalability process will also be a key area of interest for all network attached storage providers. Providing better data backup, recovery, and security services is also expected to offer new opportunities for network attached storage companies in the future.
Network Attached Storage Market Top Players Company Profiles
- Dell Technologies Inc. (US)
- NetApp, Inc. (US)
- Hewlett Packard Enterprise Company (US)
- Hitachi, Ltd. (Japan)
- Western Digital Corporation (US)
- Seagate Technology Holdings Public Limited Company (Ireland)
- Netgear, Inc. (US)
- Synology Inc. (Taiwan)
- Buffalo Americas, Inc. (US)
- Pure Storage, Inc. (US)
- QNAP Systems, Inc. (Taiwan)
- Asustor Inc. (Taiwan)
- IBM Corporation (US)
- Huawei Technologies Co., Ltd. (China)
- Microsoft Corporation (US)
- D-Link Corporation (Taiwan)
- Thecus Technology Corp. (Taiwan)
- Infortrend Technology Inc. (Taiwan)
- Panasas (US)
- Buurst Inc. (US)
- Nasuni Corporation (US)
- Promise Technology Inc. (Taiwan)
- Spectra Logic Corporation (US)
- iXsystems, Inc. (US)
Network Attached Storage Market Recent Development
- In September 2024, UnifyDrive, an established name in the global network attached storage business landscape announced the launch of a new portable network attached storage solution. UnifyDrive UT2 combines traditional NAS capabilities with modern portability features to open up new possibilities in data management and backup.
- In September 2024, TerraMaster, a leading Chinese data storage solutions provider announced the launch of new network attached storage systems. Nine new network attached storage solutions were launched and the new lineup was completely focused on F8 SSD Plus that provides fast backup and recovery capabilities.
- In September 2023, Huawei, a renowned Chinese multinational tech organization announced the launch of its new network attached storage array in Europe. OceanStor Pacific 9920 is capable of providing up to 92 terabytes of raw capacity in 2U rack space. Many other network attached storage solutions were also launched under the OceanStor Pacific range to maximize Huawei’s business in the European region.
Network Attached Storage Key Market Trends
- Development of Hybrid Storage Solutions: Network attached storage companies can focus on developing solutions that combine their offerings with cloud storage to provide the best of both worlds. These hybrid solutions allow organizations to store frequently accessed data locally while backing up data to the cloud for redundancy and disaster recovery, thereby offering new opportunities for market players in the future.
- Taking a Sustainable Approach: As emphasis on sustainability increases around the world, network attached storage companies can ride this wave to offer new solutions and services that are highly energy efficient and cause less emissions. Investing in optimization of power consumption without compromising performance will help maximize the application scope for almost all companies in the global network attached storage industry.
Network Attached Storage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing digital transformation and rising volume of data generation across multiple industry verticals are projected to boost the demand for network attached storage over the coming years. On the contrary, complexity in scaling network attached storage systems and network bandwidth limitations are slated to impede network attached storage market development going forward. The presence of a strong technological infrastructure helps North America lead the global network attached storage market share in the future. Developing hybrid network attached storage solutions will present highly rewarding opportunities for almost all network attached storage companies in the long run. Demand for scale out network attached storage solutions will increase at a rapid pace through 2031 and beyond.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 25.5 billion |
| Market size value in 2031 | USD 72.44 billion |
| Growth Rate | 12.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 Network Attached Storage 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 Network Attached Storage 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 Network Attached Storage 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 Network Attached Storage 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 Network Attached Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Network Attached Storage 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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