Global Network Attached Storage (NAS) Market Size to Reach USD 62.93 Billion in 2030 | Emergen Research
Increasing data generation with rising utilization of mobile computing devices is a key factor driving Network Attached Storage (NAS) market revenue growth
Vancouver, Sept. 13, 2023 (GLOBE NEWSWIRE) — The global Network Attached Storage (NAS) market size reached USD 22.48 Billion in 2021 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to latest analysis by Emergen Research. Increasing data generation with rising utilization of mobile computing devices is a key factor driving market revenue growth.
NAS systems are rapidly gaining recognition as an efficient, scalable, affordable storage alternative among large and small businesses in a wide range of industries. NAS offers consumers complete control while being faster, more affordable, and capable of giving all the advantages of a public cloud on-premises. Flexible deployments in addition to easy recovery in the event of a hard drive failure or any malfunction are few of the factors driving revenue growth of the market. Data is always accessible with a NAS owing to non-dependability on Internet Service Providers (ISPs), making it simple for employees to communicate, reply to clients promptly, and follow up on sales or other concerns because all information is in one location. When compared to file servers, network-attached storage has the advantages of quicker data access, simpler implementation, and easier administration. NAS systems have grown in popularity in CCTV as a practical way to share files amongst several PCs.
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Rapid adoption of work-from-home norms is increasing the utilization of Network Attached Storage (NAS), especially since COVID-19. Growing penetration of internet and 5G network services especially in emerging countries are rising demand for video streaming and cloud computing which are attributing to revenue growth of the Network Attached Storage (NAS) market.
However, growing concerns over data security and breaches coupled with performance-related issues associated with Network Attached Storage (NAS) systems are factors expected to provide restraints to revenue growth of the market.
Scope of Research
|Market size in 2021||USD 22.48 Billion|
|Revenue forecast to 2030||USD 62.93 Billion|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2022 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product, storage, industry, and region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA|
|Key companies profiled||NetApp, Hewlett Packard Enterprise Development LP, Western Digital, Dell Inc., Hitachi, Ltd., NETGEAR, Synology Inc., Seagate Technology LLC, QNAP Systems, Inc., and IBM|
|Customization scope||10 hours of free customization and expert consultation|
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Major Companies and Competitive Landscape
The global Network Attached Storage (NAS) market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Network Attached Storage (NAS) solutions. Some major players included in the global Network Attached Storage (NAS) market report are:
- Hewlett Packard Enterprise Development LP
- Western Digital
- Dell Inc.
- Hitachi, Ltd.
- Synology Inc.
- Seagate Technology LLC
- QNAP Systems, Inc.
- On 1 June 2022, StorCentric which is a data-centric security company that offers a comprehensive portfolio of secure data management solutions, announced the General Availability (GA) of Nexsan EZ-NAS. The new EZ-NAS array is ideal for Small and Medium-Sized Businesses (SMBs) and large enterprises’ edge deployments, with an easy-to-configure 1U form factor and four drives with up to 72 TB of raw capacity and 1.5 GB/s of throughput. Nexsan EZ-NAS platform is designed to deliver advanced enterprise-class features such as AD support, in-line compression, and data-at-rest encryption. Retrospect software is also included with the EZ-NAS for optional add-on services such as data backup, cloud connection, and ransomware anomaly detection.
- On 19 July 2022, Western Digital announced that it is now shipping new 22TB HDDs to three key segments, extending its innovation and technology leadership across its portfolio: WD Gold HDDs for IT/data centre channel customers, WD Red Pro for Network Attached Storage (NAS), and WD Purple Pro for smart video/surveillance. These new drives feature industry-firsts such as OptiNAND technology, energy-assisted PMR (ePMR), triple-stage actuator (TSA), and HelioSeal to provide the industry’s highest areal density at 2.2TB per platter, providing 22TB CMR HDDs to consumers. Western Digital’s new enterprise-class, 22TB WD Gold CMR HDD with OptiNAND technology allows users to minimize Total Cost of Ownership (TCO) by increasing storage in the same footprint or lowering racks, which can help minimize expenditures such as adding additional racks, network, power, cooling, and cabling, among other things.
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Some Key Highlights From the Report
- The enterprise segment is expected to register the highest revenue growth rate over the forecast period owing to rising need for high storage capacity by various organizations and the ability to share vast volumes of file data including Virtual Machine (VM) images. Enterprise NAS devices can provide petabytes of storage, support thousands of client computers, and enable quick access and clustering capabilities.
- The scale-out segment is expected to register the highest revenue CAGR over the forecast period. Scale-out storage design offers non-disruptive operations, benefits from the improved price and performance of clustered components, and makes use of policy-based management for more effectiveness and agility. Scale-out NAS is an affordable storage solution because of the value it offers. With the ability to adapt to shifting business demands, control costs and complexity, and maximize resources, scale-out storage addresses the shortcomings of earlier scale-up structures.
- IT & Telecommunications segment accounted for a significant revenue share in 2021. IT & telecommunications segment accounted for a significant revenue share in 2021. Growing data consumption owing to the high utilization of cloud services and technologies such as Artificial Intelligence (AI) and Machine Learning (ML) is rising demand for NAS devices.
- Network Attached Storage (NAS) market in North America accounted for the largest revenue share in 2021. Presence of major companies and rising high-value investments for the development of NAS solutions are a few of the major factors driving revenue growth of the NAS market in this region. Rapid adoption of Next-Generation Wireless and 5G technologies with IoT-based devices are further supporting revenue growth of the market in North America.
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Emergen Research has segmented the global Network Attached Storage (NAS) market on the basis of product, storage, industry, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Storage Outlook (Revenue, USD Billion; 2019-2030)
- Industry Outlook (Revenue, USD Billion; 2019-2030)
- Banking, Financial Services and Insurance (BFSI)
- IT & Telecommunications
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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