With the emergence and long-term Impact of COVID-19, the Global Network Attached Storage Market is to reach USD 100.83 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Network Attached Storage Market is poised to raise up to USD 100.83 Billion by 2030. Network Attached Storage is a specialized file storage device that operates on a network, providing shared storage to multiple users and heterogeneous client devices. These systems are standalone devices connected to a network, allowing multiple users to access and share data simultaneously. They typically run on dedicated hardware and are equipped with their operating system, enabling them to perform various functions, such as file sharing, data backup, and media streaming.
The Network Attached Storage Market is expanding because of factors such as the exponential growth of digital data, growth in the media and entertainment industry, and increasing deployment of Internet of Things (IoT) devices. The increasing deployment of Internet of Things (IoT) devices is a significant driver behind the growth of the Network-Attached Storage (NAS) Market. With the proliferation of IoT devices across various industries, there is a surge in the generation of vast amounts of data. These devices, ranging from sensors and cameras to smart appliances, contribute to the growing need for efficient and scalable storage solutions.
Network Attached Storage systems offer a centralized and organized approach to handling the diverse data streams from IoT devices, providing a secure and accessible repository for storing and managing this data. According to Statista, the Number of Internet of Things (IoT) connected devices worldwide in the year 2019 stood at 8.6 billion devices which increased to 13.14 billion in the year 2022 and it is projected to reach 29.42 billion devices by the year 2030. In addition, increasing product launches and investments in network technologies are some factors creating new opportunities for the market growth. However, the concerns related to data theft and server breaches stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Network Attached Storage Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The region has experienced a surge in the need for NAS solutions, driven by the expansion of digital infrastructure, the proliferation of connected devices, the growing adoption of Artificial Intelligence (AI)-based solutions, and escalating data volumes from enterprises. Furthermore, NAS holds a pivotal role in the data center storage domain. Therefore, the substantial presence of numerous data centers in the U.S. emerges as a key factor influencing the demand for NAS throughout the region.
Asia Pacific is expected to grow at the fastest rate over the forecast period, owing to factors such as rising investment in digital transformation, rising development of data centers and rising IoT proliferation, in the region.
The global Network Attached Storage Market is highly competitive owing to the presence of several key manufacturers such as Dell Technologies Inc., International Business Machine Corporation, QNAP Systems, Inc., Hitachi Vantara LLC (Hitachi Ltd.), Western Digital Corporation, Seagate Technology Holdings plc, and others.
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Key findings of the study suggest:
- Global Network Attached Storage Market is anticipated to grow with a healthy growth rate of more than 16.5% over the forecast period 2023-2030.
- In the Storage Solution segment, Scale-up NAS emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to expansion of digital infrastructure.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Enterprise Type:
- SoHo: <10 FTEs
- Mid-size: <1,000 FTEs
- Large Enterprise: >1,000 FTEs
By Storage Solution:
- Scale-up NAS
- Scale-out NAS
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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