Rockville , Jan. 09, 2024 (GLOBE NEWSWIRE) -- The global consumer network attached storage (NaS) market is estimated to reach US$ 7,483.8 million in 2024 and US$ 18,459.7 million by 2034. Over the forecast period, demand for consumer network attached storage devices is predicted to rise with 9.4% CAGR.
Several factors are anticipated to stimulate growth in the consumer NAS market. These include increasing data generation, growing need for reliable and cost-effective storage solutions, and surging popularity of work-from-home trends.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9277
Rapid digital transformation and high penetration of internet & mobile devices are creating enormous amounts of digital data. This, in turn, is expected to drive demand for storage solutions like NAS devices during the forecast period.
People are widely using consumer network attached storage devices to store and stream media content in their homes. The proliferation of 4K and higher resolution content will likely increase adoption of consumer NAS devices, thereby fostering market growth.
Rising usage of consumer network attached devices by small and medium enterprises due to their cost-effectiveness is another key factor expected to boost the target market. Small & medium enterprises are increasingly adopting network attached storage systems as they offer benefits like shared storage and centralized control.
Favorable government initiatives and growing adoption of connected homes will likely create growth opportunities for consumer network attached storage device manufacturers. Governments worldwide are concentrating on digitalization of data. This, in turn, is anticipated to propel demand for NAS systems during the assessment period.
| Report Attribute | Details |
| Value Projection (2034) | US$ 18,459.7 Million |
| Growth Rate (2024-2034) | 9.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 112 Tables |
| No. of Figures | 336 Figures |
Key Takeaways from Market Study
- The global market for consumer network attached storage (NaS) is projected to expand at 9.4% CAGR through 2034.
- Based on mount type, demand for standalone NAS devices is set to grow at a CAGR of 10.5%.
- By end-user, the large enterprises segment is forecast to thrive at a 9.9% CAGR through 2034.
- The North America market is expected to rise at a healthy CAGR of 9.6% through 2034.
- Demand in the United States is projected to rise at a 9.9% CAGR between 2024 and 2034.
- The consumer NAS industry in China is expected to total US$ 4,138.3 million in 2034.
“As small and medium enterprises continue to seek reliable and affordable storage solutions, demand for consumer network attached storage devices will rise rapidly. Besides this, increasing government initiatives for digital transformation can present growth prospects for the consumer NAS industry," says a Fact.MR analyst.
Who is Winning?
Seagate Technology Public Limited Company, NEC Corporation, ASUSTOR INC., Western Digital Corporation, D-Link Corporation, Drobo Inc., EMC Corporation, Synology Inc., and Netgear, Inc. are few of the leading providers of consumer network attached storage devices profiled in the report.
Key companies are mainly concentrating on developing novel storage solutions to meet the evolving needs of end users like small and medium enterprises. They are incorporating new technologies and software in their products to improve their performance and energy efficiency.
Top players like QNAP are emerging as consumer NAS market game changers. They are introducing new, smarter, and faster NAS solutions integrated with novel technologies, including NPU-equipped 8-core chips, hot-swappable E1.S NVMe SSDs, etc. Similarly, strategies like acquisitions, partnerships, and collaborations are prevalent in the market.
Recent developments:
- In October 2022, the TVS-hx74 ZFS NAS featuring 12th Gen Intel Core multi-thread processors was launched by QNAP Systems, Inc. The new solution is designed for virtualization applications.
- In 2023, ASUSTOR unveiled the new Lockerstor Gen2 series of NAS devices.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9277
Country-wise Insights
Why is Demand for Consumer NAS Solutions Rising in the United States?
“The rising popularity of intelligent technologies is driving increased demand in the United States.”
The United States' consumer network attached storage market is anticipated to hit US$ 3,948.3 million by 2034, showcasing a projected 9.9% CAGR in the adoption of consumer NAS devices. This surge is attributed to the burgeoning embrace of IoT and smart home technologies across the country. The resultant demand for centralized storage solutions, notably NAS devices, is expected to fuel market expansion significantly.
The role of NAS devices is increasingly pivotal in efficiently managing the data generated by smart home devices, serving as a centralized repository for this information. Furthermore, the escalating storage requirements stemming from remote work and online collaborations will further propel sales growth in the United States until 2034.
Explore More Related Studies Published by Fact.MR Research:
Internet of Things (IoT) Market: The global Internet of Things (IoT) market size will expand from US$ 1,90,180.8 million in 2024 to US$ 8,83,156.2 million by 2034. The global IoT market is expected to steadily evolve at a 16.6% CAGR from 2024 to 2034.
Cloud Computing Market: The global cloud computing market size is estimated to secure a market value of US$ 482 Billion in 2022. The market is expected to procure US$ 1,949 Billion by 2032 while expanding at a CAGR of 15% during the forecast period from 2022 to 2032.
Hybrid Flash Storage Market: The hybrid flash storage market has undergone significant maturation in last few years due to the transformation of the enterprise computing environment owing to the emergence of hyperscale cloud service providers.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
