Network Attached Storage Market To Reach USD 63,151 Million by 2030

As per a statement by P&S Intelligence, the total revenue of the global network attached storage market was USD 22,850 million in 2022, and it will grow at a rate of 13.55% in the years to come, to touch USD 63,151 million by 2030.

The on-premises category will have the largest share. This mode of deployment lets companies store all the important data on their servers, ensuring improved information security and also providing the leverage of scaling the stowage for any dynamic need.

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Moreover, the hybrid category will grow the fastest due to the fact that, companies are moving increasingly toward a mix of off-site, on-site and cloud backup solutions, without increasing the complexity of management.

Owing to the rapid progress in the rate of digitalization and progressions in all sorts of IT products, midmarket category will hold the largest share. These solutions are usually put to use by SMEs; hence, their growth has an impact on the advance of the industry.

A few small companies are also making use of these NAS storage as a media server, for storing their media and streaming music, videos and photos directly from their device used for storage, externally or internally, with the help of the internet. These devices are extensively in use amongst SMEs as they are simply scalable manageable, and lucrative.

The requirement for low-end products will also increase significantly in India and Brazil, because of the budding tech industry. In contrast, high-end category will grow steadily in in Canada and the U.S.

Scaleup NAS division dominated the network attached storage market in the past. The acceptance of scaleup solutions is increasing at homes, hotels, educational institutions, shopping malls, mid-sized offices, and retail stores, where the data produced is not that critical and vast and you just need to store it.

These storages are made up of a pair of controllers and numerous shelves of storage drives.

The scaleup solution is a conventional system with limited memory and storage. If more memory is needed, extra shelves of drives can be supplemented to the system. The solution has the advantage of lower prices compared to scale-out solutions.

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North America had the largest share of approximately 40% in the past. The acceptance of cloud-based data centers, substantial investments in R&D, and surge in the usage of the IoT technology in smart devices in Canada and the U.S. play a vital role in the regional growth.

It is because of the increasing volume of unstructured data around the world, the demand for network attached storage is all set to increase in the years to come.

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This release was published on openPR.