Press release
Network Attached Storage Market Outlook 2018-2024 By Top Key Players: Western Digital, Seagate Technology, NETGEAR, NetApp, Hitachi Data Systems, D-Link USA, Dell EMC, Cisco, Synology, QNAP Systems
Network Attached Storage (NAS) Market
Network Attached Storage (NAS) Market was estimated at over USD 6 billion in 2017, is set to exceed USD 20 billion by 2024; according to a new research report by Global Market Insights, Inc. The NAS market growth is attributed to the increasing adoption of the storage technology by SMEs for extended and scalable storage applications along with the growing demand for NAS systems from the home/consumer market.
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The 1-bay to 8-bay network attached storage market is projected to register high growth over the forecast period with a CAGR of over 25% due to the growing popularity of the storage technology for home-based consumer applications. With increasing multimedia data being generated from consumer mobile devices, home entertainment systems and smart IoT devices used for home automation purposes, the storage needs of the consumers are expected to increase consistently over the next five years.
The traditional architecture segment held a major share of the network attached storage market in 2017 due to the large-scale utilization of legacy scale-up systems for storage functions by enterprises. However, with the growing popularity of scale-out NAS systems for affordable and less complex network storage, the scale-out architecture market is expected to exhibit accelerated growth between 2018 and 2024.
With increasing emphasis on digitalization in the healthcare sector, the adoption of healthcare management systems is increasing steadily in the developed as well as the developing economies. This has resulted in the growing demand for efficient network storage solutions from the healthcare sector. Growing popularity of advanced systems such as electronic medical records will further contribute to the adoption of network attached storage market in the healthcare industry leading to a robust growth with a CAGR of over 20% during the forecast period.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Western Digital
2. Seagate Technology
3. NETGEAR
4. NetApp
5. Hitachi Data Systems
6. D-Link USA
7. Dell EMC
8. Cisco
9. Synology
10. QNAP Systems
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Europe is projected to be the second largest network attached storage market by 2024 due to a growing data center ecosystem in the region along with large-scale adoption of the storage technology by SMEs. As the major global players are aggressively extending their presence in the European market through distribution agreements with local companies, the adoption of NAS systems is likely to increase steadily between 2018 and 2024.
North America is projected to hold a major share of the NAS market throughout the forecast timeline due to the early adoption of the advanced storage technology by enterprises in the U.S. With the large-scale adoption of cloud platforms by enterprises in the region, cloud-based and hybrid NAS solutions are expected to garner a high demand over the forecast period.
Some of the key players operating in the NAS market are ASUSTOR Inc., Avere Systems, Broadberry Data Systems, Buffalo Americas, Cisco, Dell EMC, D-Link USA, Hitachi Data Systems, Infortrend Technology, Inc., NetApp, NETGEAR, Panasas, Promise Technology, QNAP Systems, Seagate Technology, SoftNAS, Inc., Synology, Thecus Technology Corp., Western Digital, and Zyxel UK.
Browse key industry insights spread across 250 pages with 300 market data tables & 25 figures & charts from the report, Network Attached Storage (NAS) Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/network-attached-storage-nas-market
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.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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