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The Consumer Network Attached Storage (NAS) Market size is estimated to grow at a CAGR of 12.11% between 2022 and 2027. The market size is forecast to increase by USD 28,222.02 million. The growth of the market depends on several factors, including the increasing need for video surveillance systems, an increase in the number of smart connected devices, and the increasing use of unified storage systems.
This Consumer Network Attached Storage Market report extensively covers market segmentation by deployment (on-premise, cloud, and hybrid), end-user (business and home), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing need for video surveillance systems is notably driving the Consumer Network Attached Storage market growth, although factors such as the NAS compatibility issue will be a major challenge impeding the market growth. 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.
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. 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.
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. Vendors 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 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 growth strategies.
Global Consumer NAS Market Customer Landscape
Vendors 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, M510 Disk Array.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors 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 consumer NAS 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 9,649.51 million in 2017 and continued to grow until 2021. 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 consumer NAS market during the forecast period.
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North America is estimated to contribute 37% 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 vendors supplement the overall market growth in the region.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the outbreak of COVID-19 in the region, especially in the US, impacted various businesses. Several IT companies and industries were shut down to limit the spread of the disease. However, the demand for consumer NAS increased as employees opted for WFH, which led to a decentralized working model as enterprises adopted technologies that increased complexities, such as the risk of cyber threats. These increasing complexities among enterprises increased the demand for cloud-based NAS storage systems to help employees enhance their remote workflow process and secure data from cyber threats.
The consumer nas market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global consumer network attached storage (NAS) market as a part of the global data processing and outsourced services market within the global IT services market. The parent global IT services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Consumer NAS Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.11% |
Market growth 2023-2027 |
USD 28,222.02 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
11.36 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, South Korea, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, 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. |
Customization purview |
If our 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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