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  • Network Attached Storage (NAS) Devices Market Analysis | 2021-2026

    Network Attached Storage (NAS) Devices Market Analysis | 2021-2026

    Network Attached Storage (NAS) Devices Market Analysis | 2021-2026
    Report code - SR1337 Delivery - 2 Weeks
    Network Attached Storage (NAS) Devices Market Growth, Size, Trends, Dynamics & Market See more...

    Market Insights

    The Network Attached Storage (NAS) Devices market was valued at USD 21.3 billion in 2020 and is projected to reach USD 60.8 billion by 2026, registering a CAGR of 19.6% during the forecast period.

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    What is a network-attached storage device?

    A network-attached storage device can be defined as a data storage device that connects to and is accessed through a network instead of connecting to a computer. It provides access to a heterogeneous group of clients. Based on product type, a network-attached storage device can be categorized as windows, Linux, and apple. It typically consists of one or more hard drives, a network interface, and a file system.

    NAS devices are designed to be easy to set up and manage, and they can be used for a variety of purposes such as file sharing, data backup, media streaming, and remote access. They are commonly used in homes, small businesses, and large enterprises to store and share files and data across different devices and platforms. NAS devices can also provide additional features such as user authentication, encryption, and remote access through web interfaces or mobile apps.

    Network Attached Storage (NAS) Devices Market Report Overview

    Market Size in 2026

    USD 60.8 Billion

    Market Size in 2020

    USD 21.3 Billion

    Market Growth (2021-2026)

    19.6% CAGR

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2021-2026

    Key Players

    Key players operating in the Network Attached Storage (NAS) Devices market are-

    • QNAP Systems, Inc. (Taiwan)
    • Buffalo Technology (Japan)
    • Synology Inc. (Taiwan)
    • Western Digital Corporation (US)
    • ASUSTOR Inc. (Taiwan)
    • Seagate Technology Holdings plc (US)
    • Apple Inc. (US)
    • The Hewlett-Packard Company (US).

    Market Dynamics

    The Network Attached Storage (NAS) Devices market is a growing sector within the storage industry. NAS devices are becoming increasingly popular as they provide a centralized location for storing and accessing data, making it easier to share and collaborate on files within a network. Some of the key market dynamics driving the growth of the NAS devices market include:

    Surging demand for data storage: In the age of data-centric applications, the exponential growth in data generation by businesses and individuals has reached unprecedented levels. To address this surge, NAS devices have emerged as a cost-effective solution for storing massive volumes of data, fueling an ever-increasing demand for these devices.

    Expanding dominance of cloud-based storage: The advent of cloud-based storage services has revolutionized the traditional NAS market landscape, as businesses and individuals now gravitate toward cloud solutions for their storage requirements. Nonetheless, the demand for on-premise NAS devices remains robust, particularly among businesses seeking greater control over their data.

    Technological strides driving progress: NAS devices are undergoing remarkable advancements, boasting enhanced power, extensive storage capacities, and sophisticated software features. These impressive strides render them even more appealing to businesses in need of high-performance storage solutions.

    Accelerated adoption of virtualization: As virtualization technology gains ground across diverse industries, NAS devices are increasingly leveraged to provide shared storage for virtualized environments. Consequently, the demand for NAS devices optimized for virtualization workloads is on the rise.

    Mounting need for video surveillance: The proliferation of video surveillance systems necessitates the indispensable role of NAS devices in storing and managing vast amounts of video data. This soaring requirement has sparked a surge in demand for NAS devices equipped with high storage capacities and advanced video management functionalities.

    Heightened demand for home entertainment: With the surge in popularity of streaming services and digital media, consumers are turning to NAS devices as a central hub for storing and accessing their media content. Consequently, there is a growing demand for consumer-centric NAS devices featuring user-friendly interfaces and seamless media streaming capabilities.

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    Market Segmentation

    The network-attached storage (NAS) devices market is segmented into the following categories-

    By Product Type

    • Windows
    • Linux
    • Apple

    By Application Type

    • Home Use
    • Government
    • Commercial Use

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: India, Japan, China, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Application Trends

    The network-attached storage (NAS) devices market has been bifurcated into home use, government, and commercial use. Under these, the commercial use segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. This can be attributed to the increasing use of NAS devices by companies and entertainment & education centers among others.

    Regional Analysis

    The market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the increasing demand for smartphones coupled with the presence of established electrical and electronics industries in developing countries, particularly China and India. The market growth in the North American region is expected to be driven by high demand for advanced storage devices and the presence of key market players such as Seagate Technology Holdings plc (US) and Apple Inc. (US).

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    COVID-19 Impact

    The COVID-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the network-attached storage (NAS) devices market positively as the imposition of complete lockdown and restrictions on trade resulted in increased demand for NAS devices at home. The pandemic has led to an increase in remote work, which has driven up the demand for NAS devices as people need to access and share files from home. This has led to an increase in demand for NAS devices for personal use, as well as for small and medium-sized businesses. It has also led to disruptions in global supply chains and manufacturing processes, which has caused a shortage of components and increased the prices of NAS devices. This has led to supply chain issues for NAS device manufacturers, which has affected their ability to meet the increased demand for their products.

    Target Audience

    Here is the list of the group of customers that the network attached storage devices market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Network Attached Storage (NAS) Devices Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tool. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Recent Developments

    November 2022: Synology unveiled the DiskStation DS923+, a cutting-edge network-attached storage (NAS) system designed specifically for home businesses. As the newest member of Synology's esteemed Plus line of storage devices, this advanced solution offers exceptional capabilities for storing and safeguarding data. With its compact four-bay configuration, the DS923+ boasts the ability to serve as both the primary storage and data backup solution, accommodating an impressive capacity of over 50TB.

    September 2022: QNAP introduced its newest additions to its flagship NAS lineup: the TS-464 and TS-664, 4-bay and 6-bay models respectively. These high-performance network-attached storage solutions are specifically designed to cater to professionals and office users who require blazing-fast speeds. Equipped with a powerful quad-core 2.5 GbE architecture, the TS-x64 series delivers exceptional performance. Powered by an Intel Celeron N5105/N5095 quad-core 4-thread processor (capable of bursting up to 2.9 GHz), it also features an Intel AES-NI encryption engine for enhanced security. Additionally, the TS-x64 supports up to 16 GB of dual-channel memory, ensuring seamless multitasking capabilities.

    September 2020: Buffalo Americas introduced expanded capacities for their 'TeraStation' 51210RH 12-bay rackmount network-attached storage (NAS) solutions. The company is excited to offer two new storage options, providing enhanced flexibility for businesses. The TS51210RH, a top-of-the-line NAS solution, is specifically designed for SMB-sized organizations. It offers high-performance RAID-based storage, allowing businesses to optimize their server space without compromising performance. With these new capacities, Buffalo aims to provide reliable and efficient storage solutions that meet the evolving needs of businesses.

    Frequently Asked Questions (FAQs)

    A network-attached storage device can be defined as a data storage device that connects to and is accessed through a network instead of connecting to a computer. It provides access to a heterogeneous group of clients. Based on product type, a network-attached storage device can be categorized as windows, Linux, and apple.

    The network-attached storage devices market size is expected to reach USD 60.8 billion in the foreseeable future.

    Network Attached Storage (NAS) Devices market are QNAP Systems, Inc. (Taiwan), Buffalo Technology (Japan), Synology Inc. (Taiwan), Western Digital Corporation (US), ASUSTOR Inc. (Taiwan), Seagate Technology Holdings plc (US), Apple Inc. (US) and The Hewlett-Packard Company (US) are among the key players in the network attached storage devices market.

    The network-attached storage devices market is expected to witness an impressive growth of 19.6% CAGR in the foreseeable future.

    The commercial use segment is expected to register significant growth in the foreseeable future.

    Asia-Pacific accounted for the largest share in the network attached storage devices market in 2020.