According to the new
market research report "Network Attached Storage (NAS)
Market with COVID-19 Impact Analysis, by Design (8 bays to 12 bays, More
than 20 bays), Product (Enterprise, Midmarket), Storage Solution (Scale-up,
Scale-out), Deployment Type, End-user Industry, & Geography - Global
Forecast to 2025", published by MarketsandMarkets™, the global NAS
market is estimated to grow from USD 23.2 billion in
2020 to USD 48.0 billion by 2025, at a
CAGR of 15.7%. The increased use of smartphones, laptops, and tablets resulting
in the generation of large volumes of data and the rapid adoption of 4G and 5G
technologies are the key factors fueling the growth of this market.
Market for 1-bay to
8-bay NAS solutions accounted for largest share of NAS market in 2019
In 2019, NAS systems
with 1 bay to 8 bays held the largest market share, and a similar trend is
likely to be observed during the forecast period owing to the growing adoption
of 1-bay to 8-bay NAS solutions by small and medium-sized businesses, homes,
education and research centers, media and entertainment companies, and business
and consulting service providers. An increase in the volume of data generated
across these industries, is leading to the increased demand for 1-bay to 8-bay
NAS solutions.
Market for midmarket
NAS solutions is expected to grow at highest CAGR during forecast period
The midmarket NAS
solutions held a larger market share in 2019, and a similar trend is likely to
be observed in the near future. It is also projected to grow with a higher CAGR
during the forecast period. The increased use of smart devices products such as
smartphones, tablets, and other smart devices led to the rise of digital media.
Midmarket NAS solutions are ideal and inexpensive solutions for small- and mid-sized
businesses and homeowners.
Market for scale-up
NAS solutions accounted for largest share of NAS market in 2019
Scale-up NAS
solutions held a larger market share in 2019. These solutions are usually
deployed in industries such as small and medium-sized offices, homes,
educational institutions, and hotels, wherein a moderate volume of data is
generated, and the only requirement is to store this data. Also, these
solutions are available at a lower cost compared to scale-out solutions.
Market for hybrid
deployment is expected to grow at highest CAGR during forecast period
The hybrid segment
is expected to register the highest CAGR in the NAS market during the forecast
period. The hybrid system consists of both on-premises and remote deployments
where active data is stored in the on-premises system, and inactive data is
shifted to remote location-based systems. The inclination toward such
deployment models is increasing day by day as companies need to keep a backup
of the crucial data to avoid the loss of critical information in the case of
any disaster.
113 – Tables
60 – Figures
197 – Pages
Banking, financial
services, and insurances (BFSI) industry accounted for largest share of NAS
market in 2019
In 2019, the BFSI
industry held a major share of the NAS market. Large volumes of data is being
generated in the BFSI industry; hence, the industry requires reliable and huge
capacity storage devices to store generated data. These requirements can be
fulfilled by NAS devices. Moreover, data security is a major concern of the
players in this industry. Therefore, they are focused on using highly scalable
and reliable NAS solutions to avoid security-related issues.
Market in APAC is
expected to grow at highest CAGR during forecast period
The market in APAC
is expected to grow at the highest CAGR duNetwork Attached Storage Marketring the forecast period owing to the
presence of numerous small and mid-scale industries in the region. Also, the
increasing number of small and medium-sized enterprises (SMEs) and increasing
investments by these companies on the development of IT infrastructure are
driving the growth of the NAS market in these countries.
Dell Technologies Inc.
(US), NetApp, Inc. (US), HEWLETT PACKARD ENTERPRISE COMPANY (HPE) (US),
Hitachi, Ltd. (Japan), and WESTERN DIGITAL
CORPORATION (US) are the key players in the NAS market. These players are
increasingly undertaking strategies such as product launches, expansions,
partnerships, contracts, collaborations, agreements, and acquisitions to
increase their market share.
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