Network Attached Storage Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Network Attached Storage by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Network Attached Storage , The network attached storage market size has grown rapidly in recent years. It will grow from $33.97 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to business continuity planning, cloud integration and hybrid solutions, expansion of home and personal use, security and compliance needs, media and entertainment industry demand..

The network attached storage market size is expected to see rapid growth in the next few years. It will grow to $76.04 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to data proliferation and big data, remote work and collaboration, security and data protection, rise in media and entertainment consumption, small and medium enterprises (smes) adoption.. Major trends in the forecast period include disaster recovery and backup solutions, sme and home usage, media and entertainment industry demands, ai and analytics workloads, edge computing integration..

The growing use of 5G technology is expected to propel the network-attached storage market. Fifth-generation wireless (5G) is the most recent iteration of cellular technology, designed to improve wireless networks’ speed and responsiveness significantly. The increasing use of 5g has led to immense data generation. The generated data is handled and stored by network-attached storage, increasing demand. For instance, in 2022, according to a report by Global Wireless Solutions, a US-based telecommunication company, the number of customers who used 5G networks increased from just 43% in 2021 to 61% in 2022 in the US. This indicates that 42% more users used 5G networks in 2022 than in 2021, a considerable increase compared to the 7% increase in 5G access the previous year in the single digits (2020-2021). Therefore, the rising data generation is driving the network-attached storage market.

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The network attached storage market covered in this report is segmented –

1) By Product Type: High-End Or Enterprise, Midmarket, 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

Product innovation is a key trend in the network-attached storage market. Major companies operating in the network-attached storage market are focused on developing new NAS solutions to strengthen their position. For instance, in June 2022, StorCentric, a US-based data-centric security company, launched Nexsan EZ-NAS for the edge deployments of large organizations and small and medium-sized businesses (SMBs). Advanced enterprise-class capabilities, including in-line compression, AD support, and data-at-rest encryption, are offered by the Nexsan EZ-NAS platform. Nexsan EZ-NAS product stands out from all other products in its category because of its usability, functionality, and cost.

The network attached storage market report table of contents includes:

1. Summary Executive

2. Network Attached Storage Market Characteristics

3. Network Attached Storage Market Trends And Strategies

4. Network Attached Storage Market – Macro Economic Scenario

5. Global Network Attached Storage Market Size and Growth

6. Network Attached Storage Market Segmentation

7. Network Attached Storage Market Regional And Country Analysis

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27. Global Network Attached Storage Market Competitive Dashboard

28. Key Mergers And Acquisitions In The Network Attached Storage Market

29. Network Attached Storage Market Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Dell Technologies Inc.
• Western Digital Corporation
• Synology Inc.
• QNAP Systems Inc.
• NetApp Inc.

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