Network-Attached Storage (NAS) Market to Develop New Growth Story |

 

Market Overview

As per the recent report, the global network attached storage market size is valued at USD 21.75 billion in 2020 and is expected to exhibit a significant CAGR of 20.3% with market size of USD 91.23 billion during the forecast period 2021-2028. 

 

Network Attached Storage (NAS) is a hard drive that offers retrieving and storage building for data from a centralized area to diverse customers, approved network consumers, and authorized network operators. This is a highly developed system specially designed for heavy network systems that can process millions of transactions per minute. This system is accessed through an assigned network address and acts as a server for sharing the files. It cannot enable other services like emails or authentication. This system provides a storage system for enterprises that require a reliable network system. 

 

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The rising dependence on digital content which is stored in the cloud environment by small and medium enterprises (SMEs) are propelling the market growth. The proliferation of social media content and high-speed data transferring technologies like 4G & 5G is fostering the growth of the market. The growing requirement of the huge amount of secure data storage devices for video surveillance applications is highly demanding of this system. The rising adoption of remote & virtual office environments, business continuity planning, and the requirement to provide remote access to corporate networks to employees are boosting the growth of the market. Data compression ability for storing a duplicate copy of data in network-attached storage devices is surging the adoption of this system. 

 

The network-attached storage market opportunities are growing adoption of hybrid cloud services is fueling the demand for cutting-edge NAS systems. 

Market Segmentation

The network-attached storage market is segregated into the application, end-user, types, storage solutions, and deployment.

Application Segmentation: The network-attached storage applications are split into hybrid, remote, on-premise, and others. 

End-User Segmentation: By end-user, the network-attached storage market is sectioned into IT & telecommunications, business, financial services, healthcare, government, and others. 

Type Segmentation: The network-attached storage types are trifurcated into consumer-level NAS, enterprise-level NAS storage, and small-medium business-level NAS.

Storage Segmentation: Based on the Storage, the network-attached storage market is bifurcated into scale-out, scale-up, and others.

Deployment Segmentation: By Deployment, the network-attached storage market is sectioned into hybrid, on-premise, remote, and others. 

 

Regional Analysis

Based on the latest survey, the global network attached market based on the region is divided into four major regions such as North America, Asia-Pacific, Europe, and the Rest of the World. Out of these regions, North America is dominating the largest market share due to the presence of market players in the United System including Google, Cisco Systems Inc, and the involvement of various companies. Growing demand between many small and medium-sized enterprises, rising adoption of IoT, unprecedented advancement of data, and rapid adoption of advanced technologies are accelerating the market growth in this region. 

 

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The network-attached storage market key players are Space Monkey (US), Netgear In (US), Synology Inc (Taiwan), Cisco Systems Inc, (US), and others. 

Industry News

According to the latest research, the network-attached storage market forecast states that this sector will reach immense growth in the market due to the investments in R & D, mergers, acquisition, and introducing the advanced technologies like QTS 4.4.2 NAS operating system which replaces the QTS 4.4.2. This system improves system privacy and storage scaling, and also improves storage extensibility along with physical JBOD devices used for storing files and restoring applications.

 

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