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Network Attached Storage Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
Network Attached Storage Market
As per the report, the network attached storage market size has grown rapidly in recent years. It will grow from $33.97 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The network attached storage market size is expected to see rapid growth in the next few years. It will grow to $76.04 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%.
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5G Technology Boosts Network-Attached Storage Market
The growing use of 5G technology is expected to propel the network-attached storage market. Fifth-generation wireless (5G) is the most recent iteration of cellular technology, designed to improve wireless networks' speed and responsiveness significantly. The increasing use of 5g has led to immense data generation. The generated data is handled and stored by network-attached storage, increasing demand. For instance, in 2022, according to a report by Global Wireless Solutions, a US-based telecommunication company, the number of customers who used 5G networks increased from just 43% in 2021 to 61% in 2022 in the US. This indicates that 42% more users used 5G networks in 2022 than in 2021, a considerable increase compared to the 7% increase in 5G access the previous year in the single digits (2020-2021). Therefore, the rising data generation is driving the network-attached storage market.
Product Innovation Driving Network-Attached Storage Market
Product innovation is a key trend in the network-attached storage market. Major companies operating in the network-attached storage market are focused on developing new NAS solutions to strengthen their position. For instance, in June 2022, StorCentric, a US-based data-centric security company, launched Nexsan EZ-NAS for the edge deployments of large organizations and small and medium-sized businesses (SMBs). Advanced enterprise-class capabilities, including in-line compression, AD support, and data-at-rest encryption, are offered by the Nexsan EZ-NAS platform. Nexsan EZ-NAS product stands out from all other products in its category because of its usability, functionality, and cost.
The network attached storage market covered in this report is segmented -
1) By Product Type: High-End Or Enterprise, Midmarket, Low-End
2) By Storage Solution: Scale-Out, Scale-Up, Other Solutions
3) By Deployment Model: On-Premise, Cloud, Hybrid
4) By Application: Home Or Consumer, Business
5) By End User: BFSI, Healthcare, Retail And E-Commerce, IT And Telecom, Automotive, Other End-Users
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Major companies operating in the network attached storage market report are Dell Technologies Inc., Western Digital Corporation, Synology Inc., QNAP Systems Inc., NetApp Inc., Hewlett Packard Enterprise Company, Hitachi Ltd., Seagate Technology Holdings Public Limited Company, NETGEAR Inc., Buffalo Americas Inc., ASUSTeK Computer Inc., International Business Machines Corporation (IBM), Huawei Technologies Co. Ltd., Drobo Inc., Cisco Systems Inc., Zyxel Communications Corporation, D-Link Corporation, Nasuni Corporation, SoftNAS Inc., Panasas Inc., Infortrend Technology Inc., Thecus Technology Corp., Promise Technology Inc., LenovoEMC, Open-E Inc., Syneto S.R.L., Overland Storage Inc., Nexsan Corporation., Super Micro Computer Inc., Oracle Corporation, NEC Corporation, Fujitsu Limited .
Contents of the report:
1. Executive Summary
2. Network Attached Storage Market Report Structure
3. Network Attached Storage Market Trends And Strategies
4. Network Attached Storage Market - Macro Economic Scenario
5. Network Attached Storage Market Size And Growth
…..
27. Network Attached Storage Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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