North America Is Dominating Network Attached Storage Market

The size of the network attached storage market was USD 22,850 million in 2022, and the figure is set to rise at a CAGR of 13.55% from 2022 to 2030 and reach USD 63,151 million by the end of this decade.

The growing use of smartphones, 5G networks and the Internet of Things is a contributing factor in this growth which has resulted in an accumulation of massive volumes of formless data including audio, textual files, video or photographs. The demand for network connected storage will grow due to approximately 80% of global digital data being unbundled in 2025 and these reasons are likely to contribute to this growth.

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With the surge in the size of information, its theft and illegal access have become major worries for companies and people. Firms need to be ready in the case of viruses, DDoS, malware, and ransomware attacks.

This is possible with the support of a complete end-to-end recovery strategy and NAS backup devices. With the help of these devices, any ransomware occurrence encrypts the data, a business can rapidly restore all its earlier saved versions and get back to functioning as soon as possible, without giving any ransom.

The requirement for data centers throughout the globe is growing at a considerable rate because of the thriving boom in the utilization of enhanced computer technologies. Because of this, the demand for network-attached storage is on the rise.

Companies have several NAS units on-premises, but these days, such solutions are being utilized as edge data centers. Because of the increasing requirement for, mobile, analytics, social, and cloud services throughout the globe, numerous new facilities are wanted to store the collected data.

Additionally, with the growing R&D expenditure in such facilities in emerging countries, including the U.S. and Germany; and the launch of next-generation data centers, which are more technically enhanced and effective in terms of managing data, the industry for network-attached storage will grow.

In 2022, North America generated the largest revenue share, at approximately 40%. The acceptance of cloud-based data centers, the surge in the usage of IoT technology in smartphones in the U.S. and Canada, and noteworthy expenditure in R&D boosted regional growth.

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Furthermore, because of the substantial enhancements in technologies and acceptance of smart devices, including, health trackers, mobile phones, and laptops, in China, South Korea, Malaysia, South Korea, Japan, and India, NAS demand in APAC is projected to develop significantly in the coming few years.

Hence, the network-attached storage market is propelled by the growing volume of unstructured data because of the usage of social media, AI, ML, and IoT.

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