18.46% CAGR growth by 2023 in Network Attached Storage Market| Key Vendors - DELL INC., BUFFALO TECHNOLOGY INC., HEWLETT-PACKARD DEVELOPMENT COMPANY, HITACHI DATA SYSTEMS CORPORATION, NETAPP INC., IBM, amongst others.

Market Analysis:

North America to Hold the Highest Market Share
Owing to its early adoption of advanced analytics solutions involving huge data storage requirements, North America holds the largest market share. The United States is projected to hold the highest share within the region.

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It is estimated that more than 80% of midmarket and enterprise organizations are using NAS, for some tier of storage in exceeding capacity, when compared to other storage types, such as DAS and SAN. The major factors driving the market include - explosion in unstructured data, increasing foot print of scale-out NAS in enterprise IT systems, and focus on network virtualization and software defined NAS. The increasing adoption of NAS systems in enterprise environments is driving vendors toward creating customized NAS solutions, for businesses aiming at NAS as a full-fledged data management solution. The integration of on-premise NAS with cloud storage is expected to gain traction in the future, facilitating total control over the data in the NAS and in backing up and archiving data in the cloud. High adoption rate of low-end or Desktop NAS is expected during the forecast period.

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Market Segments:
Network Attached Storage Market is segmented by:
1. Type: Scale-up, Scale-out
2. Deployment: On-premise, Cloud
3. End Users: BFSI, Consumer & Retail, Government & Public Sector, IT & Telecom, Media & Entertainment, Manufacturing, Healthcare, Energy & Power, Other End Users
4. Product Type: High-end or Enterprise NAS, Midmarket NAS, Low-end or Desktop NAS
5. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January 2018 - QNAP Systems Inc., initiated a partnership with Netgate, the world’s leading provider of open-source firewalls and security gateways, and showcased a joint solution by implementing pfSense software on QNAP NAS, to create new security and networking deployment, at CES 2018.
• July 2017 - Synology UK Ltd announced a new partnership with Deltaco, a technology distributor in the Nordics. With this acquisition, Synology hopes to penetrate the channel and engage with new customers and new markets of the Nordics, for the NAS solutions.

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