Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global network attached storage market size was valued at USD 21.75 billion in 2020. The market is projected to grow from USD 25.08 billion in 2021 to USD 91.23 billion in 2028, exhibiting a CAGR of 20.3% during the forecast period. Growing demand for data backup and rising adoption of Internet-of-Things devices is expected to boost the market growth. This information is provided by Fortune Business Insights, in its report, titled “Network Attached Storage Market Forecast, 2023-2028.”
Industry Development
Buffalo Americas announced its LinkStation 700 and LinkStation SoHo Network Attached Storage (NAS) solution to offer high-speed storage for small office and home users at affordable costs.
Request a Sample Copy of the Research Report:
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2022 to 2029 CAGR | 20.3% |
| 2028 Value Projection | USD 91.23 Billion |
| Base Year | 2020 |
| Network Attached Storage Market Size in 2020 | USD 21.75 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | Product Type, Storage Solution, End-user and Geography |
| Network Attached Storage Market Growth Drivers | Rapid Adoption of Next-Generation Wireless Internet Technology to Fuel Market Progress |
Key Takeaways
- Increasing demand for data backup and redundancy in the industries due to a surge in digital transformation has propelled the market growth.
- Storage Solutions Analysis: Rising Development of Scale-Out Storage Solutions Aid Market Growth
- North America holds the largest share in the market during the forecast period 2023-2029
- Industry players to Focus on Developing Advanced Products to Increase their Shares
- The increasing sale of connected smart devices around the globe with the surge in internet penetration has propelled the market growth.
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/industry-reports/network-attached-storage-market-100505
Drivers and Restraints
- Rapid Adoption of Next-Generation Wireless Internet Technology to Fuel Market Progress
- Increasing investments in 5G infrastructure is expected to boost the product’s adoption from consumers. Developing smart city infrastructures and rising smart connected devices adoption is expected to boost network-attached storage.
- As per the report published by the IDC in 2020, connected device adoption increased to 75 billion devices by 2025. This sales figure is expected to create remunerative opportunities for the network attached storage industry.
- Furthermore, several organizations' rising product adoption for secure data storage and management may propel market development. These factors may drive the network attached storage market growth.
- However, increasing concerns regarding data breaches and cyber-attacks are expected to hinder the market’s progress.
Segmentation
By product type, the market is segmented into low-end, midmarket, and high-end/ enterprise. As per the storage solution, it is bifurcated into scale-up NAS and scale-out NAS. Based on end-user, it is classified into automotive, IT & telecom, retail & e-commerce, healthcare, banking, financial services, and insurance (BFSI), and others. Regionally, it is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Presence of Several Major Players to Boost Market Growth in North America
North America is projected to dominate the network attached storage market share because of the presence of several major players in the market. The market in North America stood at USD 8.52 billion in 2020 and is expected to grow rapidly in the upcoming years. Further, significant investments by public and private companies for wireless technology are expected to bolster market progress.
In Europe, a rapid surge in data volume and increasingly connected devices adoption is expected to boost network-attached storage. Furthermore, increased digitization and fixed broadband connection adoption are expected to foster market development.
In the Asia Pacific, rising smartphone and connected device adoption are expected to boost network attached storage adoption. These factors may propel market progress during the upcoming years.
Have Any Query? Ask Our Experts:
Competitive Landscape
Manufacturers Launch Novel Products to Boost Brand Presence
Prominent companies operating in the market launch novel products to satisfy consumer demand and boost brand presence. For example, QNAP Systems Inc. launched its TS-x53DU product range in July 2020. It supports multimedia playback backup, hybrid backup sync (HBS), and snapshot for local, cloud storage, and offsite. This strategy may enable the company to satisfy consumers’ demand and boost brand presence. Furthermore, research and development, mergers, acquisitions, and partnerships boost market position.
Companies Operating in Network Attached Storage Market Analysis Report
- Dell Technologies Inc.
- Western Digital Corporation
- Synology, Inc.
- QNAP Systems, Inc.
- NetApp, Inc.
- Hewlett Packard Enterprise Company
- Hitachi, Ltd.
- Seagate Technology Public Limited Company
- NETGEAR, Inc. (U.S.)
- Buffalo Americas, Inc.
Access Full Report– Network Attached Storage Market
https://www.fortunebusinessinsights.com/checkout-page/100505
Table of Contents
- Global Network Attached Storage Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Network Attached Storage Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD)
- High-end/Enterprise
- Midmarket
- Low-end
- Storage Solution (USD)
- Scale-up NAS
- Scale-out NAS
- End-user (USD)
- BFSI
- Healthcare
- Retail & ecommerce
- IT & Telecom
- Automotive
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Product Type (USD)
- North America Network Attached Storage Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD)
- High-end/Enterprise
- Midmarket
- Low-end
- Storage Solution (USD)
- Scale-up NAS
- Scale-out NAS
- End-user (USD)
- BFSI
- Healthcare
- Retail & ecommerce
- IT & Telecom
- Automotive
- Others
- By Country (USD)
- United States (By Product Type)
- Canada (By Product Type)
- Mexico (By Product Type)
- By Product Type (USD)
- South America Network Attached Storage Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD)
- High-end/Enterprise
- Midmarket
- Low-end
- Storage Solution (USD)
- Scale-up NAS
- Scale-out NAS
- End-user (USD)
- BFSI
- Healthcare
- Retail & ecommerce
- IT & Telecom
- Automotive
- Others
- By Country (USD)
- Brazil
- Argentina
- Rest of South America
- By Product Type (USD)
- Global Network Attached Storage Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
TOC Continued….
Related Reports:
Cloud Storage Market Size, Share, Growth, Trends, Forecast 2029
Data Storage Market Size, Share, Industry Report 2023-2029
Cloud Computing Market Size, Share, Growth and Forecast 2029
5G Infrastructure Market Size, Growth, Share, Trends, Report Analysis
5G IoT Market Size, Share, Industry Forecast 2023-2029
FAQ’s
How much the network attached storage market be worth in the year 2028?
The market is expected to reach USD 91.23 Billion by 2028.
What was the size of the global Network Attached Storage (NAS) market in 2020?
The global Network Attached Storage (NAS) market size was USD 21.75 Billion in 2020
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
