What are the Historical Developments and Current Growth Metrics of the Network Attached Storage Market?
The network attached storage market has seen considerable growth due to a variety of factors.
• The scale of the network attached storage market has quickly increased over the previous years. Its growth is projected to accelerate from $38.92 billion in 2024 to $45.08 billion in 2025, marking a compound annual growth rate (CAGR) of 15.8%. The expansion during the historic period has been influenced by factors such as business continuity planning, cloud integration and hybrid solutions, the broadening of home and personal use, security and compliance necessities, as well as the surging demand from the media and entertainment industry.
What Does Future Hold for The Network Attached Storage Market?
The Network Attached Storage market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the network attached storage market is predicted to witness a significant surge. The rise is forecasted to reach $91.52 billion by 2029, at a compound annual growth rate (CAGR) of 19.4%.
This predicted growth can be attributed to several factors, including the proliferation of data and big data, remote work and collaboration, ensuring security and data protection, an increased demand for media and entertainment, and the adoption by small and medium enterprises (SMEs). The trends anticipated during the forecast period encompass disaster recovery and backup solutions, small and medium-sized enterprises, and household usage, as well as the requisites of the media and entertainment industry, AI and analytics workloads, and the integration of edge computing.
What Are The Primary Growth Drivers In The Network Attached Storage Market?
The network-attached storage market is seeing an upward trend driven by the escalating adoption of 5G technology. Representing the latest development in cellular systems, 5G promises to vastly enhance the speed and efficiency of wireless networks. Consequently, the surge in 5G usage is resulting in enormous data production. That's where network-attached storage comes in handy, managing and storing the data, thereby amplifying its demand. For example, a study conducted by Global Wireless Solutions, a US telecommunications firm, in 2022 revealed a climb in 5G network usage from a mere 43% in 2021 to 61% in 2022 in the US. This denotes a 42% increase in 5G network users in 2022 as opposed to 2021, a significant jump from the preceding year's single-digit growth rate of 7% recorded between 2020 and 2021. Hence, the surging data production is fuelling the expansion of the network-attached storage market.
What Is The Segmentation Of The Global Network Attached Storage Market?
The network attached storage market covered in this report is segmented –
1) By Product Type: High-End Or Enterprise, Mid market, Low-End
2) By Storage Solution: Scale-Out, Scale-Up, Other Solutions
3) By Deployment Model: On-Premise, Cloud, Hybrid
4) By Application: Home Or Consumer, Business
5) By End User: BFSI, Healthcare, Retail And E-Commerce, IT And Telecom, Automotive, Other End-Users
Subsegments:
1) By High-End Or Enterprise: Multi-Protocol Support NAS, Scalable Storage Solutions, High Availability Systems
2) By Mid market: RAID-Based Systems, Virtualized Storage Solutions, Hybrid Cloud NAS
3) By Low-End: Personal Cloud Storage, Home Media Servers, Entry-Level NAS Devices
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What Emerging Trends Are Shaping The Network Attached Storage Market Landscape?
The emergence of product innovation remains a significant trend within the network-attached storage market. Firms that hold major stakes in the network-attached storage market are pursuing the creation of new NAS solutions for the purpose of consolidating their market stance. For example, StorCentric, a data-centric security firm based in the US, released the Nexsan EZ-NAS in June 2022, targeting edge deployments within large corporations as well as small and medium-sized businesses (SMBs). Features such as in-line compression, AD support, and data-at-rest encryption are provided by the Nexsan EZ-NAS platform. The Nexsan EZ-NAS solution outperforms its rivals by offering superior usability, functionality, and affordability.
Who Are the Key Players In The Network Attached Storage Market?
Major companies operating in the network attached storage market include:
• Dell Technologies Inc.
• Western Digital Corporation
• Synology Inc.
• QNAP Systems Inc.
• NetApp Inc.
• Hewlett Packard Enterprise Company
• Hitachi Ltd.
• Seagate Technology Holdings Public Limited Company
• NETGEAR Inc.
• Buffalo Americas Inc.
• ASUSTeK Computer Inc.
• International Business Machines Corporation (IBM)
• Huawei Technologies Co. Ltd.
• Drobo Inc.
• Zyxel Communications Corporation
• D-Link Corporation
• Nasuni Corporation
• SoftNAS Inc.
• Panasas Inc.
• Infortrend Technology Inc.
• Thecus Technology Corp.
• Promise Technology Inc.
• LenovoEMC
• Open-E Inc.
• Syneto S.R.L.
• Overland Storage Inc.
• Nexsan Corporation.
• Super Micro Computer Inc.
• Oracle Corporation
• NEC Corporation
• Fujitsu Limited
What Are The Regional Insights Into The Network Attached Storage Market?
North America was the largest region in the network attached storage market in 2024. The regions covered in the network attached storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
