What Is The Current and Historic Market Size Analysis Of The Consumer Network Attached Storage Market?
The consumer network attached storage market has seen considerable growth due to a variety of factors.
• There has been a swift expansion in the size of the consumer network attached storage market in the last few years. Its growth trajectory is predicted to leap from $17.88 billion in 2024 to $20.73 billion in 2025, with a compound annual growth rate (CAGR) pegged at 15.9%.
The observed growth during the historic period is due to factors such as the proliferation of digital content, the increased popularity of multimedia streaming, and expansion of smart home ecosystems.
What Are The Predictions for The Consumer Network Attached Storage Market in the Coming Years?
The consumer network attached storage market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, swift expansion is anticipated in the consumer network attached storage market. Predictions place the market's size at $36.93 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.5%.
Factors contributing to this projected growth during the forecast period include an increased inclination towards home media storage, the broadening sphere of smart home applications, hybrid cloud storage solutions, plus an emphasis on energy efficiency and sustainability. Edge computing and IoT integration, along with cloud-native NAS solutions, subscription-based services, and hybrid cloud architectures are significant trends projected to shape the market during the aforementioned period.
Which Drivers Are Accelerating Growth In The Consumer Network Attached Storage Market?
The surge in the use of IoT devices is projected to fuel the advancement of consumer network-attached storage in the future. IoT devices encompass a network of tangible objects fitted with sensors, software, and other technologies, allowing them to connect with and transmit data to other devices and systems via the internet. The growing usage of these devices can be attributed to technological innovation, economic viability, and the applicability across industries. Incorporating IoT devices with consumer network-attached storage systems facilitates effective storage, analysis, and safeguarding of data generated by IoT, enhancing consumer convenience overall. For example, Sogeti, a French IT service administration firm, stated in March 2023 that the worldwide adoption of IoT devices had reached 42.62 billion in 2022, and was anticipated to reach 75.44 billion by 2025. Consequently, the intensifying adoption of IoT devices is propelling the expansion of the consumer network-attached storage market.
What Are The Core Segments Of The Global Consumer Network Attached Storage Market?
The consumer network attached storage market covered in this report is segmented –
1) By Storage Type: Hard Disk Drive (HDD), Flash Storage, Hybrid
2) By Design: 1-Bay, 2-Bays, 4-Bays, 5-Bays, 6-Bays, Above 6-Bays
3) By Deployment: On-Premise, Cloud Or Remote, Hybrid
4) By End-User: Residential, Business
Subsegments:
1) By Hard Disk Drive (HDD): Traditional HDD, Enterprise HDD, Consumer HDD
2) By Flash Storage: Solid State Drive (SSD), NVMe (Non-Volatile Memory Express), SATA SSD
3) By Hybrid: Hybrid HDD Or SSD Storage Solutions, SSHD (Solid-State Hybrid Drive)
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What Trends Are Shaping The Consumer Network Attached Storage Market?
Several leading firms in the consumer network-attached storage market are focusing their efforts on creating innovative next-generation storage devices such as the NASync series to cater to the changing needs of consumers for efficient and reliable storage solutions. The NASync series represents an updated version of conventional NAS systems, integrating advanced technologies and capabilities to keep up with user requirements and market trends. For example, UGREEN, a consumer electronics firm based in China, released the NASync series, a next-generation network-attached storage device, in January 2024. This was done in partnership with Intel Corporation, an American semiconductor corporation. NASync devices, powered by Intel Core i5 control chips, feature an AI-enabled smart data management center permitting users to save and access data locally and remotely using different gadgets such as smartphones, laptops, tablets, and televisions. Furthermore, these devices come with a comprehensive app for wireless data access, facilitating streaming media and image recognition, which allows users to search photos using text.
Who Are the Key Players In The Consumer Network Attached Storage Market?
Major companies operating in the consumer network attached storage market are:
• Apple Inc.
• Microsoft Corporation
• Dell Technologies Inc.
• Hitachi Ltd.
• Lenovo Group Limited
• HP Inc.
• Panasonic Corporation
• Cisco Systems Inc.
• Toshiba Corporation
• ASUSTeK Computer Inc.
• Western Digital Corporation
• Seagate Technology
• Acer Inc.
• GIGABYTE Technology Co. Ltd.
• NETGEAR Inc.
• ZyXEL Communications Corp.
• QNAP Systems Inc.
• D-Link Corporation
• Synology Inc.
• ASRock Inc.
• Silicon Power Computer & Communications Inc.
• Asustor Inc.
• Thecus Technology Corp.
• Buffalo Americas
• Drobo Inc.
What Are The Regional Insights Into The Consumer Network Attached Storage Market?
North America was the largest region in the consumer network attached storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer network attached storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
