Cloud Network Attached Storage Market to Register Growth of 23% to 2024: Global Market Insights, Inc.
The report on 'Network Attached Storage Market Trends & Forecast 2024' covers an extensive summary of the architecture, design, deployment model, application, and regional and competitive landscape.
SELBYVILLE, Del., August 16, 2019 (Newswire.com) - The global network attached storage (NAS) market is anticipated to experience lucrative growth in the ensuing years. The increasing popularity of NAS devices among small businesses and enterprises across a plethora of industrial sectors is the primary factor behind this growth.
With many public and private industrial sectors going through the digital transformation trend, data is increasingly becoming a critical asset. Today, without access to their respective data, many companies are not capable of providing their patrons the level of service they have come to expect.
Poor customer service, caused by data access unavailability, often results in loss of sales and issues with team collaboration. Moreover, in terms of data storage, companies also need to address a number of other storage-related demands like ease of operation, affordability, scaling capabilities and ease of backup.
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Network attached storage devices are becoming increasingly popular among these enterprises due to their ability to address all the aforementioned demands. A NAS storage device, connected to the network, allows data storage and access from a centralized location, making up a scalable, effective and affordable storage solution.
Leveraging the ability to address such storage demands, the global network attached storage market size is slated to grow substantially over the coming years.
When it comes to deployment models, the NAS market provides three different options: on-premise, cloud and hybrid.
Among these, the hybrid NAS segment is slated to witness the fastest growth during the forecast study period. Hybrid NAS allows companies to store any crucial data on their respective premises while also leveraging the scalable nature of cloud-based storage to accommodate any dynamic storage requirements.
In fact, according to an Intel Solution Brief, as it facilitates the benefits of the on-premise NAS deployment model with the scalability advantage of cloud-based storage, many NAS system manufacturers have now begun including hybrid NAS systems in their respective product portfolios. Manufacturers are expected to intensely promote these solutions to boost their revenues.
Going forward, the growing prominence of hybrid NAS systems, when coupled with the increasing dedication of NAS system manufacturers to the hybrid NAS deployment model, is expected to further augment global market outlook.
From a regional perspective, the global network attached storage market is divided into North America, Asia-Pacific, Europe, and LAMEA. Among these regional segments, North America is slated to account for a major share of the global market landscape across the forecast timeline.
In 2017 the North America NAS market already held a majority industry share of approximately 48%. The region’s expansion is primarily attributed to early advanced storage technology adoption by a number of enterprises across the United States.
Additionally, supported by wide-scale cloud platform adoption and the presence of a sophisticated cloud infrastructure from players like Microsoft, Amazon Web Service (AWS), and IBM, the overall adoption of NAS solutions across North America is projected to rise consistently during the forecast time period.
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Meanwhile, Europe is expected to retain its position as the second-largest network attached storage market by 2024. The region’s consistent performance is being attributed to a flourishing data center ecosystem across the region. Adoption of the NAS storage technology by the region’s SMEs on an extensive scale is another prominent driver helping Europe retain its position.
According to the European Commission, SMEs form the backbone of European economy as they represent approximately 99% of all businesses throughout the European Union. Over the previous five years, SMEs have created more than 85% of new jobs, providing two-thirds of the private sector employment across the EU.
The European Commission regards SMEs and entrepreneurship to be crucial factors for ensuing the region’s economic growth, job creation, innovation and social integration. With prominent global players aggressively establishing their presence in Europe by forging distribution agreements with local firms, NAS system adoption is anticipated to increase considerably by 2024.
What does the research report offer?
This network attached storage (NAS) market report facilitates an in-depth analysis of all industry segments comprising architecture, application, design, deployment model, region and competitive landscape.
The research report offers insights on the industry based upon a number of key parameters like growth drivers, industry outlook, global trends that further characterize the industrial landscape and market segmentation, and regional drivers that are impacting the commercialization graph of the industry landscape.
The study elaborates that the application segment is further bifurcated into home/consumer NAS and business, with the latter being further split into telecom and IT, BFSI, retail and consumer goods, healthcare, media and entertainment, and government. Of these segments, the home/consumer NAS segment has obtained exponential traction recently, particularly due to the copious amounts of data that is being produced by individual households through their respective collection of home entertainment systems.
The large volume of data that is being downloaded on a consistent basis by several on-demand entertainment systems and an escalating need for consumers to share and store digital content between a plethora of multimedia devices like smartphones, laptops, and tablets, demand for NAS systems for home is anticipated to increase rapidly, augmenting the network attached storage market share further.
The key drivers, with regards to the application segment, provide a remunerative growth forecast during the forecast time period, most rapidly expanding trends, as well as each sub-segments' industry share.
Browse key industry insights spread across 380 pages with 300 market data tables and 25 figures and charts from the report, “Network Attached Storage (NAS) Market By Architecture (Traditional, Scale-out), Design, Deployment Model, Application (Consumer, Business), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast 2024” in detail along with the table of contents:
A detailed design segment analysis of the network attached storage (NAS) market is also included in the research report. From a product design perspective, the industry is classified into sections of above 20-bay, 12-bay to 20 bay, 8-bay to 12-bay, and 1-bay to 8-bay.
With respect to regional analysis, the market report is segmented into Canada, U.S., France, UK, Italy, Germany, Japan, China, Australia & New Zealand (ANZ), India, South Korea, Taiwan, Argentina, Mexico, Brazil, GCC, and South Africa. The regional markets are further segmented on the basis of availability of market players, market contribution, consumer base, alongside many other aspects.
The study anticipates that the network attached storage (NAS) market is expected to experience considerable growth across Europe, North America and the Asia-Pacific. The North American network attached storage market outlook is slated to dominate the global industry landscape, primarily owing to the presence of several prominent global industry players and a well-established cloud infrastructure that supports the technology across numerous industrial sectors.
The Europe NAS market is also expected to showcase notable performance during the discussed study period. A notable chunk of this growth is expected to come from the EU’s robust SME sector.
Moreover, the market report also elaborates on a collection of critical parameters that could assist stakeholders in easily implementing necessary decision-making practices. The market research report also contains important information relating to SWOT analysis, several different industries driving factors and more.
The network attached storage market research study report further facilitates a detailed executive summary, industry analysis, crucial industry, overview of several global trends, as well as insights into market segmentation in the industry. Additionally, deliverables with regards to the regulatory reference frame and competitive spectrum have been covered within the research report alongside innovative business strategies that distinguished market players are incorporating across the market landscape.
Table of Contents (ToC) of the report:
Chapter 3. NAS Industry Insights
3.2. Evolution of NAS
3.3. SAN vs NAS storage
3.4. Scale-up vs Scale-out NAS
3.5. NAS architecture analysis
3.6. Industry segmentation
3.7. Industry landscape, 2013 - 2024
3.8. Industry ecosystem analysis
3.9. Regulatory landscape
3.10. Technology & innovation landscape
3.10.1. Multi-protocol or unified storage
3.11. Industry impact forces
3.11.1. Growth drivers
126.96.36.199. Increase in Big Data analytics and data mining applications
188.8.131.52. Growing popularity of NAS for home/consumer applications
184.108.40.206. Rising adoption of Cloud NAS file storage as a service
3.11.2. Industry pitfalls & challenges
220.127.116.11. Concerns regarding data security
18.104.22.168. Concerns regarding bandwidth performance for remotely hosted NAS
3.12. Porter's analysis
3.13. PESTEL analysis
Browse Complete Table of Contents (ToC) at
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Source: Global Market Insights, Inc.