Network-Attached Storage Market Highlights

The network-attached storage (NAS) market is anticipated to witness healthy growth from 2024 to 2032, a research report suggests. Growing at a CAGR of 8.04%, the market is projected to reach USD 82.0 million by 2032. An increase in the use of big data analytics is expected to support the market growth along with the growing adoption of 4G and 5G technologies. As predicted by analysts, security issues will negatively affect the market’s performance from 2018 to 2023. During the forecast period, the market will be supported by the surging usage across different industries and increasing use of data mining applications.

High bandwidth consumption on the other hand will challenge data storage sector based organizations functioning in the global network-attached storage (NAS) market. Analysts have split the market into end user, deployment, storage, and types segments based on products and services. Data storage based companies have been profiled. The lack of investments in research and development is set to affect the global market during the forecast period 2018 to 2023. The report also provides the market’s performance forecasts till 2023. Analysts have studied the strategy of data storage segment based organizations to help new entrants and established businesses. The data storage sector itself is supported by the increased adoption of data analytics as well as the presence of untapped market opportunities. During the forecast period 2018 to 2023, the network-attached storage (NAS) market is set to witness a health growth across end user, deployment, storage, and types segments as well as regional markets.

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Market Segmentation

The data storage sector has seen growth across end user, deployment, storage, and types segments owing to increasing awareness levels and technological advancements. To study the market, analysts have further segmented end user, deployment, storage, and types into small-medium business-level NAS, consumer-level NAS, and enterprise NAS storage on the basis of types. The market is further segmented into storage solution sub segment which is split into scale-out, scale-up, and others. Additionally, the network-attached storage (NAS) market on the basis of deployment is segmented into hybrid, on premise, remote, and others. The market is further segmented into end user sub segment which is split into BFSI, government, healthcare, telecommunication and IT, and others.

The segmental analysis presented in the report provides data storage field based organizations insights into key growth factors such as technological developments as well as challenges such as high initial investments the market will face from 2018 to 2023. A rise in disposable income and the rising industrialization are some of the key factors having an influence on data storage industry based companies, suggest analysts as per the network-attached storage (NAS) market report. But the report also identifies the lack of awareness and the lack of demand from developing countries as major threats companies in data storage will face till 2023.

Regional Overview

Data storage market based companies in the network-attached storage (NAS) market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. High demand across industry verticals will be a key growth driver for regional markets. However, low research and development budgets will turn out to be a threat. For the forecast period 2018 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and data storage vertical based companies are spread across the United States, Canada, and Mexico. The lack of demand from certain regional markets will turn out to be a major challenge from 2018 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the growing urbanization as well as the growth of communication channels, suggests the report. Similarly, the data storage sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the network-attached storage (NAS) market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2023.

Competitive Landscape

The global network-attached storage (NAS) market research report brings a comprehensive study of end user, deployment, storage, and types market segments, regional analysis, and data storage vertical based company details of key players. As the forecast period 2018 to 2023 will bring new opportunities for the market owing to advancements in technology and the rapidly growing population the market is set to grow at a compound annual growth rate of 20.08% and is predicted to reach a value of US$44,595.7 million by 2023. With SWOT analysis of data storage sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of investments and concerns regarding high costs, companies in the data storage sector can change the way business is done.

Industry News

Dell has purchased The Networked Storage Company (TNWSC), a leading IT consultancy that specializes in converting customers to tested, easy, and cost-effective IT data storage solutions. The agreement was declared just before Christmas, and the terms will not be revealed until all closing conditions are fulfilled. The Point of Proof approach offered by TNWSC is structured to provide an auditable end-to-end framework for evaluating, selecting, and implementing validated solutions that provide simpler and more cost-effective IT infrastructures.