Network-Attached Storage (NAS) Market by Storage Solution (Scale-up, Scale-out), Deployment Type (On-Premise, Remote, Hybrid), End-User Industry (BFSI, Telecommunications & ITeS, Consumer Goods & Retail), and Geography - Global Forecast to 2023
“Network-attached storage (NAS) market projected to grow at a CAGR of 20.1%”
According to the new market research on network-attached storage, this market is expected to be worth USD 45.21 billion by 2023, growing at a CAGR of 20.1% from 2017 to 2023. The growth of the NAS market can be attributed to the increasing dependence on digital content being stored in the cloud environment by SMBs, the proliferation of social media content along with high-speed data transfer technologies such as 4G & 5G, and the need for a large amount of secure data storage devices for video surveillance application. However, the concern about the security of data is hindering the growth of the NAS market
“Hybrid deployment type is expected to grow at the highest rate from 2017 to 2023”
The market for hybrid NAS is expected to witness the highest CAGR from 2017 to 2023. The hybrid system consists of both on-premise and remote deployments where active data are stored in the on-premise system and inactive data are shifted to remote location-based systems. This is also known as disaster recovery management. Such deployment is increasing day-by-day as companies need to keep a backup of the crucial data in case any mishap happens onsite.
“NAS market for the BFSI sector held the largest market share in 2016”
The NAS market for the BFSI sector held the largest market share compared to other end-user industries in 2016. The security of such data is a big concern for the banking and financial sector. Network-attached storage devices offer secure data storage at a lower cost with several scalability options. These advantages ensure the growth and profitability in businesses with high operational efficiency. Thus, NAS devices are widely being used in the BFSI sector.
“NAS market in North America expected to hold the largest market share throughout the forecast period”
This report covers the NAS market in regions including North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the largest contributor in the overall NAS market. Companies in this region are providing many data storage solutions to various industries. The US is the home to leading NAS manufacturers such as Dell EMC (US), NetApp, Inc. (US), Hewlett-Packard Enterprise Company (US), Hitachi Data Systems Corporation (US), Western Digital Corporation (US), NETGEAR, Inc. (US), and others. As this region is an early adopter of technologies, it contributes a major portion of the revenue to the NAS market.
Breakdown of profile of primary participants:
• By Company Type: Tier 1—65%, Tier 2—15%, and Tier 3—20%
• By Designation: C-level Executives—55%, Directors—15%, and Others—30%
• By Region: North America—20%, Europe—10%, APAC—40%, and RoW—30%
The companies that are profiled in the report are Dell EMC (US), NetApp, Inc. (US), Hewlett-Packard Enterprise Company (US), Hitachi Data Systems Corporation (US), Western Digital Corporation (US), NETGEAR, Inc. (US), Synology, Inc. (Taiwan), Buffalo Americas (US), Seagate Technology PLC. (US), and QNAP Systems, Inc. (Taiwan)
The report describes various storage types associated with the network-attached storage market and related developments in terms of product launches and product development across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as storage solution, deployment type, end-user industry, and geography. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, vendor DIVE, recent developments, and key market strategies.
Reasons to Buy the Report:
• This report includes the market statistics pertaining to storage solution, deployment type, end-user industry, and geography along with their respective revenue.
• Major drivers, restraints, challenges, and opportunities for the NAS market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast for NAS markets based on storage solution, deployment type, end-user industry, and geography have been provided to give an overall view of the NAS market.
• A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players, along with the vendor DIVE matrix.