Selbyville, Delaware, Sept. 22, 2020 (GLOBE NEWSWIRE) -- According to MarketStudyReport LLC, Global network attached storage market size was valued at USD 20.1 billion in 2019 and is expected to reach USD 64.5 billion growth rate of 15.7% during 2020-2027. The growth is attributed to rising adoption of network attached storage systems by various enterprises for efficient business operations.
For the record, network attached storage (NAS) is a user-friendly, fast, and high performance device, which is available at relatively low costs. It is widely used for storing and retrieving information from a central disk. It is connected to LAN (local area network) and can be employed by heterogeneous users while safely storing and accessing their respective data.
Furthermore, various governments are focusing on digitalization which has impelled the use of smartphones, laptops, tablets, generating large volume of data. Additionally, increasing popularity of 4G and 5G technologies are resulting in tremendous volume of digital content, which in turn is contributing towards worldwide network attached storage industry outlook. In fact, according to the Statista, global smart phone penetration rate was recorded at 33.5% in 2016, which raised to 44.9% in the year 2020.
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Moreover, the launch of innovative products and services along with other strategic collaborations among leading companies is likely to create lucrative opportunities for global network attached storage marketplace.
On the contrary, rising concerns regarding security of data when stored at remote locations may restrain the market growth during the forecast period.
Assessing the impact of COVID-19 pandemic
The emergence of COVID-19 pandemic has compelled worldwide governments to impose temporary lockdowns in order to curb the spread of the disease. This has compelled organizations to adopt work from home policies, which in turn is favoring worldwide network attached storage (NAS) industry share forecasts.
Elaborating on the market segmentations
With respect to the component type, the industry is bifurcated into software and hardware. Based on deployment mode, the market is segmented into remote, on-premises and hybrid.
Speaking of the end-user terrain, global network attached storage industry is categorized into telecommunications & ITES, banking, financial services, & insurance (BFSI), consumer goods & retail, education & research, business & consulting, healthcare, media & entertainment, energy, manufacturing, government, and others.
In terms of design type, the market is split into more than 20 bays, 12 bays to 20 bays, 8 bays to 12 bays, and 1 bay to 8 bays segments. Moving on to storage type, the industry is classified into scale-out NAS and scale-up NAS. Based on product spectrum, global network attached storage industry is divided into midmarket NAS solutions and enterprise NAS solutions.
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Highlighting the regional terrain
Estimates cite that Asia Pacific network attached storage (NAS) market is predicted to expand and generate commendable revenues in the ensuing years. High concentration of small and mid-scale companies in the region is adding to the regional market growth.
Global Network Attached Storage Market Growth Component Analysis (Revenue, USD Billion, 2017-2027)
- Hardware
- Software
Global Network Attached Storage Market Outlook by Deployment Mode (Revenue, USD Billion, 2017-2027)
- Remote
- On-Premises
- Hybrid
Global Network Attached Storage Market Size End-User Analysis (Revenue, USD Billion, 2017-2027)
- Consumer Goods & Retail
- Business &Consulting
- Energy
- Education & Research
- Manufacturing
- Government
- Banking, Financial Services, & Insurance (BFSI)
- Telecommunications & ITES
- Healthcare
- Media & Entertainment
- Others
Global Network Attached Storage Market Design Analysis (Revenue, USD Billion, 2017-2027)
- 1 Bay to 8 Bays
- 8 Bays to 12 Bays
- 12 Bays to 20 Bays
- More than 20 Bays
Global Network Attached Storage Market Storage Type (Revenue, USD Billion, 2017-2027)
- Scale-out NAS
- Scale-up NAS
Global Network Attached Storage Market Product Sub-segments (Revenue, USD Billion, 2017-2027)
- Midmarket NAS Solutions
- Enterprise NAS Solutions
Global Network Attached Storage Market Regional Framework (Revenue, USD Billion, 2017-2027)
North America
- Canada
- U.S.
Europe
- Italy
- France
- Germany
- UK
- Spain
- Rest of Europe
Asia Pacific
- Japan
- South Korea
- China
- India
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Network Attached Storage Market Competitive Landscape (Revenue, USD Billion, 2017-2027)
- NetApp Inc.
- Hitachi Ltd.
- QNAP Systems Inc.
- Dell Technologies Inc.
- Buffalo Americas Inc.
- Hewlett Packard Enterprise Company (HPE)
- Seagate Technology Public Limited Company (PLC)
- Western Digital Corporation
- Netgear Inc.
- Synology Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Network Attached Storage (NAS) Market, by Region, 2018-2027 (USD Billion)
1.2.2. Network Attached Storage (NAS) Market, by Component, 2018-2027 (USD Billion)
1.2.3. Network Attached Storage (NAS) Market, by Deployment Mode, 2018-2027 (USD Billion)
1.2.4. Network Attached Storage (NAS) Market, by End-User, 2018-2027 (USD Billion)
1.2.5. Network Attached Storage (NAS) Market, by Design, 2018-2027 (USD Billion)
1.2.6. Network Attached Storage (NAS) Market, by Storage, 2018-2027 (USD Billion)
1.2.7. Network Attached Storage (NAS) Market, by Product, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Network Attached Storage (NAS) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Network Attached Storage (NAS) Market Dynamics
3.1. Network Attached Storage (NAS) Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Network Attached Storage (NAS) Market Industry Analysis
4.1. Porter’s 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Network Attached Storage (NAS) Market, by Component
5.1. Market Snapshot
5.2. Global Network Attached Storage (NAS) Market by Component, Performance - Potential Analysis
5.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Network Attached Storage (NAS) Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Software
Chapter 6. Global Network Attached Storage (NAS) Market, by Deployment Mode
6.1. Market Snapshot
6.2. Global Network Attached Storage (NAS) Market by Deployment Mode, Performance - Potential Analysis
6.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by Deployment Mode 2017-2027 (USD Billion)
6.4. Network Attached Storage (NAS) Market, Sub Segment Analysis
6.4.1. On-Premises
6.4.2. Remote
6.4.3. Hybrid
Chapter 7. Global Network Attached Storage (NAS) Market, by End-User
7.1. Market Snapshot
7.2. Global Network Attached Storage (NAS) Market by End-User, Performance - Potential Analysis
7.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by End-User 2017-2027 (USD Billion)
7.4. Network Attached Storage (NAS) Market, Sub Segment Analysis
7.4.1. Banking, Financial Services, and Insurance (BFSI)
7.4.2. Consumer goods and retail
7.4.3. Telecommunications and ITES
7.4.4. Healthcare
7.4.5. Energy
7.4.6. Government
7.4.7. Education and research
7.4.8. Media and entertainment
7.4.9. Manufacturing
Chapter 8. Global Network Attached Storage (NAS) Market, by Design
8.1. Market Snapshot
8.2. Global Network Attached Storage (NAS) Market by Design, Performance - Potential Analysis
8.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by Design 2017-2027 (USD Billion)
8.4. Network Attached Storage (NAS) Market, Sub Segment Analysis
8.4.1. 1Bay to 8 Bays
8.4.2. 8 Bays to 12 Bays
8.4.3. 12 Bays to 20 Bays
8.4.4. More than 20-bays
Chapter 9. Global Network Attached Storage (NAS) Market, by Storage
9.1. Market Snapshot
9.2. Global Network Attached Storage (NAS) Market by Storage, Performance - Potential Analysis
9.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by Storage 2017-2027 (USD Billion)
9.4. Network Attached Storage (NAS) Market, Sub Segment Analysis
9.4.1. Scale-up NAS
9.4.2. Scale-out NAS
Chapter 10. Global Network Attached Storage (NAS) Market, by Product
10.1. Market Snapshot
10.2. Global Network Attached Storage (NAS) Market by Product, Performance - Potential Analysis
10.3. Global Network Attached Storage (NAS) Market Estimates & Forecasts by Product 2017-2027 (USD Billion)
10.3.1. Enterprise NAS Solutions
10.3.2. Midmarket NAS Solutions
Chapter 11. Global Network Attached Storage (NAS) Market, Regional Analysis
Related Report:
Network Attached Storage (NAS) Market Size, Growth Potential, Competitive Market Share & Forecast to 2024
Network Attached Storage (NAS) market is projected to surpass USD 20 billion by 2024, as per new research report. NAS is a dedicated file storage system that operates through a standard Ethernet connection to offer a file-based shared storage to LAN nodes. The device operates as an independent network node on the LAN and has its own unique IP address. The NAS market is projected to register a lucrative growth with an impressive CAGR of over 20% between 2018 and 2024. This growth is attributed to the growing adoption of cloud-based storage solutions by SMEs, increase in big data analytics & data mining applications, and ease-of-installation & automatic data backup capabilities. Increasing volume of social media content and rapid proliferation of high-speed data transfer technologies are also expected to largely assist the market growth during the forecast timeline.
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