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Consumer Network Attached Storage Market to Surge to US$ 18,459.7 Million by 2034, Growing at 9.4% CAGR

06-22-2024 10:04 AM CET | IT, New Media & Software

Press release from: Fact.MR

Consumer Network Attached Storage Market to Surge to US$

The global consumer network attached storage (NAS) market is projected to grow from US$ 7,483.8 million in 2024 to US$ 18,459.7 million by 2034, with a 9.4% CAGR over the forecast period. This growth is driven by increasing data generation, the rising need for reliable and cost-effective storage solutions, and the surging popularity of work-from-home trends.

Rapid digital transformation and high penetration of internet & mobile devices are creating enormous amounts of digital data. This, in turn, is expected to drive demand for storage solutions like NAS devices during the forecast period. People are widely using consumer network attached storage devices to store and stream media content in their homes. The proliferation of 4K and higher resolution content will likely increase adoption of consumer NAS devices, thereby fostering market growth.

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Rising usage of consumer network attached devices by small and medium enterprises due to their cost-effectiveness is another key factor expected to boost the target market. Small & medium enterprises are increasingly adopting network attached storage systems as they offer benefits like shared storage and centralized control. Favorable government initiatives and growing adoption of connected homes will likely create growth opportunities for consumer network attached storage device manufacturers. Governments worldwide are concentrating on digitalization of data. This, in turn, is anticipated to propel demand for NAS systems during the assessment period.

Key Takeaways from Market Study

The global market for consumer network attached storage (NAS) is projected to expand at a robust 9.4% CAGR through 2034, driven by the increasing need for efficient data storage solutions in a variety of applications. Standalone NAS devices are particularly set to experience significant growth, with demand rising at a 10.5% CAGR. This surge is attributed to their ease of installation and use, making them ideal for both personal and small business use. By end-user segment, large enterprises are forecasted to thrive at a 9.9% CAGR, reflecting the growing adoption of NAS solutions to handle vast amounts of data securely and efficiently in large-scale operations.

Regionally, the North American market is expected to rise at a healthy CAGR of 9.6% through 2034, with the United States driving much of this growth at a projected 9.9% CAGR between 2024 and 2034. This growth is fueled by the increasing reliance on digital data storage solutions across various industries and the popularity of remote working trends. Meanwhile, the consumer NAS industry in China is anticipated to reach a market value of US$ 4,138.3 million by 2034, underscoring the region's expanding technological infrastructure and the rising demand for advanced storage solutions. This regional growth highlights the global shift towards more reliable and scalable data storage systems.

List of Key Companies Profiled in The Report

Seagate Technology Public Limited Company
NEC Corporation
ASUSTOR INC.
Western Digital Corporation
D-Link Corporation
Drobo Inc.
EMC Corporation
Synology Inc.
Netgear, Inc.
Others

Country-wise Insights

Why is Demand for Consumer NAS Solutions Rising in the United States?

"The rising popularity of intelligent technologies is driving increased demand in the United States."

The United States' consumer network attached storage market is anticipated to hit US$ 3,948.3 million by 2034, showcasing a projected 9.9% CAGR in the adoption of consumer NAS devices. This surge is attributed to the burgeoning embrace of IoT and smart home technologies across the country. The resultant demand for centralized storage solutions, notably NAS devices, is expected to fuel market expansion significantly.

The role of NAS devices is increasingly pivotal in efficiently managing the data generated by smart home devices, serving as a centralized repository for this information. Furthermore, the escalating storage requirements stemming from remote work and online collaborations will further propel sales growth in the United States until 2034.

Value Chain

The intricate web of processes and entities involved in bringing Consumer NaS solutions to end-users forms the market's value chain. This section unravels the stages from production to consumption, shedding light on the roles of manufacturers, distributors, and retailers. By understanding the nuances of the value chain, industry participants can identify areas for optimization and efficiency. Moreover, we explore the impact of technological advancements on the value chain and how these changes influence the overall Consumer NaS market.

Want Full Report? Enquire Here-https://www.factmr.com/report/consumer-network-attached-storage-market

Competitive Landscape

Key companies in the consumer network attached storage (NAS) market are focusing on launching innovative solutions to meet the evolving needs of end users. Additionally, they are adopting strategies such as partnerships, acquisitions, and collaborations to boost revenue and expand their global presence.

Recent Developments in the Consumer-Grade NAS System Market:

In October 2022, QNAP introduced the TVS-hx74 ZFS NAS, featuring 12th Gen Intel Core multi-thread processors, specifically designed for virtualization applications.

In June 2022, StorCentric, a leading provider of secure data management solutions, launched Nexsan EZ-NAS, a new network attached storage ideal for small and medium-sized businesses as well as large enterprises' edge developments.

In March 2023, Synology introduced two new Diskstations, the DS423 and DS423+, offering all-in-one storage solutions tailored for home offices and small businesses.

In 2023, ASUSTOR unveiled the new Lockerstor Gen2 series of NAS devices.

Contact:

US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

About Fact.MR:

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

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