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The Consumer Network Attached Storage (NAS) Market size is forecast to increase by USD 36.49 billion, at a CAGR of 13.64% between 2023 and 2028. Market growth hinges on multiple factors, notably the rising demand for advanced video surveillance systems to bolster security measures. Additionally, the proliferation of smart connected devices has surged, further driving market expansion. Another significant driver is the widespread adoption of unified storage systems, which streamline data management and enhance operational efficiency across various sectors. These developments signify a shift towards integrated and scalable solutions, aligning with the evolving technological landscape. The convergence of these factors indicates a robust trajectory for the market, characterized by increased deployment of sophisticated surveillance technologies, seamless connectivity among devices, and efficient data storage solutions to meet modern business needs.
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The market is driven by the exponential growth of digital files and the increasing adoption of Internet of Things (IoT) technologies. As individuals and households accumulate vast amounts of images, movies, music, and other content, the demand for storage capacity and deployment flexibility rises. Consumer NAS solutions are evolving with Hybrid configurations and integration of Flash storage, meeting the diverse needs of mobile computing devices, laptops, tablets, and enterprise desktops. Challenges include managing data generation rates and optimizing network performance amidst the proliferation of digital devices and the transition to 5G technology. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving growth in the market is the increasing need for video surveillance systems. Smart home security is among the most demanding IoT applications. Smart home security systems operate on the centralized control of the home gateway, where the intelligence system is placed on the cloud network. Cloud-based services provide a user-friendly system to end-users for controlling security devices. These services manage issues such as interoperability and updating the software. Furthermore, the cloud system gives a cost advantage to the end-users compared with on-premise solutions.
Moreover, the implementation of video surveillance services by home users is increasing to enhance their physical security due to the increasing use of cloud services. Many industrial consumers install surveillance cameras both inside and outside their residences and shops. The use of NAS systems needed for storing and processing these video surveillance camera feed become necessary because 24/7 feeds are difficult to store and process using DAS systems. Moreover, high-quality videos (1080p) need higher storage capacity, which is fulfilled by NAS systems. They also allow remote access to the stored data. Many NAS systems have built-in features like automatic data backup, which will increase the efficiency of the video surveillance systems.
The rise in the adoption of hybrid storage arrays is an emerging trend in the market during the forecast period. Hybrid storage arrays offer an organization more flexibility to choose the right deployment model for each workload or workgroup.
Moreover, the three primary benefits of deploying hybrid storage arrays include improved data management, enhanced IT infrastructure management and flexibility, and better security and compliance. Hybrid storage arrays include both flash drives and HDDs, and some NAS systems support hybrid arrays. Hence, such trends boost market growth during the forecast period.
The NAS compatibility issue will be a major challenge impeding the market during the forecast period. NAS systems are commonly adopted by enterprises to create collaborative working environments by creating space for enterprise clients to facilitate data sharing between peers. Administrators face many issues in creating shared storage for users, such as shared folders or individual files, while accessing NAS systems remotely.
Moreover, the compatibility of NAS with different operating systems is also vital for a small business storage operation. A few common issues identified in NAS systems include command injection, buffer overflows, authentication bypasses and failure, cross-site request forgery, information disclosure, poor session management, and backdoor accounts. Companies are constantly improving their product's performance and security vulnerabilities through patch updates. In the small business environment, these minor issues can delay business operations, impacting productivity. Many users often experience authentication-related issues while accessing NAS drives on an updated host system. Hence, these factors can hinder the adoption of NAS systems.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
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Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Nasuni Corp. - The company offers consumer NAS such as M120 Disk Array, M320 Disk Array, and M510 Disk Array.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the on-premise segment will be significant during the forecast period. In the global market, on-premises solutions remain popular due to their enhanced security. A key advantage of on-premises consumer NAS solutions is that these solutions remain popular owing to their enhanced perceived security and the ability of the user to have complete control over the storage environment. Users can choose the amount of storage they need and can configure the NAS to their specific needs. This includes the setup, automated backups, and syncing of data across multiple devices. However, on-premises consumer NAS devices are expensive and require some technical expertise to set up and maintain.
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The on-premise segment was valued at USD 10.58 billion in 2018. There are limitations on the amount of storage that can be physically installed in a NAS device while upgrading the hardware can also be costly. Despite these challenges of on-premises NAS, the solutions remain a popular choice for users who require a secure, reliable, and flexible storage solution for their personal or business needs. Thus, such factors are expected to drive the growth of the on-premise segment of the global market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The industrial sector in the region is developed and technologically mature. The maturity of the sector leads to an abundance of use cases, which eventually results in the faster adoption of consumer NAS systems. The North American region is the leading revenue generator in the home segment because countries like the US are advanced in technology and product offerings. The majority of the individual consumers in this region already use NAS systems as home storage devices supported by fast Ethernet connectivity. NAS systems offer high-performance storage to users, while the popularity and effectiveness of direct-attached storage (DAS) devices are declining rapidly year-over-year in the region. Hence, the strong presence and penetration of the top companies supplement the overall market growth in the region.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing dynamic growth, fueled by technological advancements and changing consumer preferences. One key driver is the proliferation of 3D smart glasses and augmented reality (AR) products, enhancing user experiences and creating new demands for data storage and accessibility. Additionally, the widespread adoption of 5G technology and cloud computing solutions has revolutionized how consumers interact with digital content, leading to increased demand for centralized storage solutions and cloud storage services.
Moreover, consumers are increasingly relying on all-in-one solutions that integrate artificial intelligence (AI) capabilities, offering enhanced data security, privacy, and transfer rates. With the surge in data generation from digital devices, including smartphones, tablets, and smart home devices, there's a growing need for scalable and efficient storage solutions. The market also caters to the evolving needs of remote work and hybrid work policies, providing remote file access, backup systems, and secure data transmission interfaces. As multimedia consumption rises among individuals and households, NAS solutions offer high storage capacities, performance capabilities, and seamless integration with multimedia devices like media streaming devices, laptops, and personal computers (PCs). Overall, the market is poised for continued growth, driven by technological advancements, increasing data volumes, and the shift towards digital lifestyles and smart devices.
Furthermore, the market is witnessing a significant transformation driven by the increasing demand for versatile and comprehensive solutions. All-in-one solutions are becoming increasingly popular as they offer a centralized storage solution with robust cloud computing adoption and efficient cloud solutions. This adoption is further fueled by the need for enhanced cloud storage performance and the convenience of Cloud/remote access. Consumers are embracing digital lifestyles, incorporating consumer wearables, and generating vast amounts of data, including audio files, digital files, images, movies, and music. This influx of data necessitates efficient data accessibility and management, leading to the adoption of solutions with advanced data compressing techniques and safeguards against data loss and data theft.
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Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
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Market growth 2024-2028 |
USD 36.49 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.73 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, China, South Korea, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ASUSTeK Computer Inc., Buffalo Americas Inc., Buurst Inc., Cisco Systems Inc., D Link Corp., Dell Technologies Inc., Drobo Inc., Hewlett Packard Enterprise Co., Hitachi Ltd., Hon Hai Precision Industry Co. Ltd., Huawei Technologies Co. Ltd., Infortrend Technology Inc., International Business Machines Corp., Microsoft Corp., Nasuni Corp., NEC Corp., QNAP Systems Inc., Seagate Technology Holdings Plc, Synology Inc., and Western Digital Corp. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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