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NAS Market by Business Overview, Trends and Demand Forecast to 2024

Author : Ronak Bora | Published Date : 2020-09-10 

North America, being a major technological hub stands poised to hold significant share in the global NAS market. The region moreover retains the presence of large scale enterprises that have adopted the cloud platforms and big data analytics – a factor further expected to garner high demand for NAS solutions in the coming years. The rapid adoption of consumer and home network attached storage systems in U.S. and Canada across various end-use sectors such as the BFSI and IT & Telecom market have significantly driven North America network attached storage industry share. The United States NAS industry share is forecast to record a y-o-y growth rate of 20% over 2018-2024.

Elaborating further on the geographical landscape, Europe is projected to procure second largest share in the NAS market. The growth is mainly attributed to the rapid adoption of this technology by the SMEs in tandem with the massively growing data center developments in the region. Add to it, the continent, over the recent years, has been one of the top-notch spots for the industry players adopting regional expansion as their chief growth strategy.

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The NAS market is projected to register a lucrative growth with an impressive CAGR of over 20% by the forecast period. This growth is attributed to the growing adoption of cloud-based storage solutions by SMEs, increase in big data analytics & data mining applications, and ease-of-installation & automatic data backup capabilities. Increasing volume of social media content and rapid proliferation of high-speed data transfer technologies are also expected to largely assist the market growth during the forecast timeline.

As companies are increasingly turning toward server virtualization, the network attached storage solutions are gaining renewed attention. They facilitate flexible, reliable, and highly scalable networked storage in virtualized environments. Small businesses are majorly adopting the storage technology to benefit from the features such as lower cost of storage infrastructure, easy and reliable data backup capability, centralized data storage, and continuous availability of enterprise data. This makes it easier for employees to seamlessly collaborate and respond to customers in a timely fashion. SMBs can leverage NAS solutions to add the storage capacity in an affordable way, share capacity with other parties (customers, suppliers), and automatically & continuously backup their critical business data.

NAS systems are offered in a diverse set of configurations by the manufacturers wherein they act as a central media hub for a family in consumer applications and can scale up to the largest data centers for enterprise applications. The companies offer these systems in different variations such as preconfigured storage systems with drives, or as unpopulated enclosures having open bays where customers can insert hard-disk drives to add to the overall storage capacity. Moreover, the devices with multiple hard drives often come equipped with Redundant Array of Independent Disks (RAID) capability, which enables the storage of duplicated data across multiple hard drives. When one drive stops functioning properly, users can simply replace it and the data automatically repopulate the new drive.

The commercialization of global NAS market has indeed taken up a remarkable pace in the recent years, courtesy – the increasing number of enterprises diving into big data analytics & data mining. The rapid adoption of NAS solutions in home and consumer applications to offer storage that can be accessed by multiple devices have provided significant impetus to the growth statistics of network attached storage industry share. With NAS gaining considerable traction across SMEs and other businesses incorporating cloud-based network, analysts speculate the network attached storage architectural layout to witness a revolution of sorts in the coming years. Not to mention, technology interventions are deemed to remain the focal point of this transition.

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Europe is projected to remain the second largest market for NAS solutions by 2024. The significant market coverage can be attributed to the widespread adoption of the storage technology by SMEs in the region, consistently expanding the data center infrastructure, and increasing the emphasis by key market players on extending their presence in the European market.

Table of Contents (ToC) of the report:

Chapter 6. NAS market, By Design

6.1. NAS market trends by design

6.2. 1-bay to 8-bay

6.2.1. 1-bay to 8-bay market estimates and forecast, by region, 2013-2024

6.3. 8-bay to 12-bay

6.3.1. 8-bay to 12-bay market estimates and forecast, by region, 2013-2024

6.4. 12-bay to 20-bay

6.4.1. 12-bay to 20-bay market estimates and forecast, by region, 2013-2024

6.5. Above 20-bay

6.5.1. Above 20-bay market estimates and forecast, by region, 2013-2024

Chapter 7. NAS market, By Deployment Model

7.1. NAS market trends by deployment model

7.2. On-premise

7.2.1. On-premise NAS deployment market estimates and forecast, by region, 2013-2024

7.3. Cloud

7.3.1. Cloud-based NAS deployment market estimates and forecast, by region, 2013-2024

7.4. Hybrid

7.4.1. Hybrid NAS deployment market estimates and forecast, by region, 2013-2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/network-attached-storage-nas-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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