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The network attached storage (NAS) market share is estimated to increase to USD 18.61 billion from 2021 to 2026, at an accelerating CAGR of 9.03%. The market is driven by the increasing need for data backup and redundancy due to digital transformations. The key trends include strategic alliances among companies, while challenges include rising data breach incidents.
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The rising need for data backup and redundancy with the surge in digital transformations is notably driving the market, although factors such as the increasing incidence of data breach may impede the market.
One of the key drivers supporting the market is the rising need for data backup and redundancy with the surge in digital transformations. NAS is generally utilized as a centralized and shared digital file storage system. A single system has many physical hard discs and servers. Moreover, several major companies are creating enhanced data storage, backup, and redundancy solutions and services, leading to an increased demand. For instance, in September 2021, Microsoft Corporation introduced the zone redundancy storage (ZRS) option for Microsoft Azure's managed discs. It aided in improving digital infrastructure resilience and enabled high-performance persistent block storage for Azure virtual machines (VM). Such initiatives will drive the market during the forecast period.
One of the key market trends fueling the market is the increase in key development and strategic alliances among companies. Primarily, numerous global and regional companies are offering differentiated products in the market, intensifying the competition among companies. Companies are focusing on new strategies, such as developing new services with innovative technology or partnering with technology providers to gain a competitive edge in the market and retain their market positions. In March 2020, NetApp Inc. acquired Talon Storage, a pioneer in next-generation software-defined storage solutions, to help global companies centralize and consolidate IT storage infrastructure on public clouds. Such factors will fuel the market growth and trends during the forecast period.
One of the challenges limiting the market is the increasing incidence of data breach. NAS is a storage device that delivers file services to computer systems. These devices include file storage and document storage systems. Moreover, this stored data is vulnerable to cyber security threats posed by cyber attackers. For instance, in August 2021, according to a study conducted by Palo Alto Networks Inc., an estimated 240,000 QNAP systems and about 3,500 Synology devices were vulnerable to cyber-attacks. Such threats may limit the market growth during the forecast period.
This market growth analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The market research and growth report analyzes the market's competitive landscape and offers information on several market companies, including:
This statistical study of the network-attached storage market encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying organic and inorganic growth strategies to compete in the market.
The market forecasting report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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32% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the market in APAC. Market in this region will be faster than the market in other regions.
The growing adoption of smart connected and IoT devices such as smartphones, tablets, and laptops will facilitate the market in APAC over the forecast period. This market growth and forecasting report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans.
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The market share growth by the on-premise segment will be significant during the forecast period. On-premises solutions are majorly developed and used by large enterprises that have a global presence to gain more control and ownership over their security and the data generated and stored within the application. Organizations apply artificial intelligence (AI) and machine learning (ML) technologies to extract and analyze massive data sets that contain sensitive information. Hence, such organizations prefer to operate through on-premises deployment than in the cloud. Such increasing preference for on-premise deployment will drive the market during the forecast period.
This market research report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights.
Our market trends and analysis report provides extensive information on the value chain analysis for the market, which companies can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help companies drive costs and enhance customer services during the forecast period.
The Network Attached Storage (NAS) market is booming with the proliferation of Internet of Things (IoT) technologies and 5G technology, fueling massive data generation from various digital devices. NAS solutions cater to the storage needs of enterprises and consumers alike, handling unstructured data sets like audio files, videos, and images efficiently. Hybrid cloud storage bridges the gap between traditional NAS devices and cloud storage, ensuring data accessibility and security. From work-from-home setups to hybrid work policies, NAS supports remote data management, easing the burden on IT teams. Small to midsize businesses, research centers, and media professionals benefit from NAS solutions, facilitating backup, recovery, and storage virtualization. PAC Storage leads innovations, addressing the demands of telecommunications and ITES sectors for seamless data mobility and robust backup solutions.
Network Attached Storage (NAS) Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.03% |
Market growth 2022-2026 |
USD 18.61 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.01 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key consumer countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Infortrend Technology Inc., International Business Machines Corp., NetApp Inc., NETGEAR Inc., PaNASas Inc., QNAP Systems Inc., Seagate Technology LLC, StorCentric Inc., Synology Inc., Thecus Technology Corp., Western Digital Corp., ASUSTeK Computer Inc., Buffalo Americas Inc., Buurst Inc., Cisco Systems Inc., D Link Corp., and Dell Technologies Inc. |
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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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