Press release
Strong Growth Ahead: Network Attached Storage Market Size To Grow At Arecord 19.4% Cagr By 2029
Network Attached Storage
What Is the Projected Growth of the Network Attached Storage Market?
In recent times, the network attached storage market has witnessed substantial growth. The market size is projected to increase from $38.92 billion in 2024 to $45.08 billion in 2025, marking a compound annual growth rate (CAGR) of 15.8%. This significant market expansion during the historic period is credited to factors such as business continuity planning, the integration of cloud and hybrid solutions, the augmenting demands in the home and personal segment, the rising necessity for security and compliance, as well as an increase in demand from the media and entertainment industry.
The network attached storage market is anticipated to experience a swift expansion in the upcoming years, with its value projected to reach $91.52 billion by 2029, expanding at a CAGR of 19.4%. The key factors driving this growth during the prognosis period are data explosion and big data, remote operations and cooperation, safeguarding and data safety, an upsurge in media and entertainment usage and the adoption by small and medium businesses (SMEs). Significant tendencies during the prognosis period encompass disaster recovery and backup solutions, utilization by SMEs and homes, demands from media and entertainment industry, workloads related to AI and analytics, and integration of edge computing.
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What Are the Emerging Segments Within the Network Attached Storage Market?
The network attached storage market covered in this report is segmented -
1) By Product Type: High-End Or Enterprise, Mid market, 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
Subsegments:
1) By High-End Or Enterprise: Multi-Protocol Support NAS, Scalable Storage Solutions, High Availability Systems
2) By Mid market: RAID-Based Systems, Virtualized Storage Solutions, Hybrid Cloud NAS
3) By Low-End: Personal Cloud Storage, Home Media Servers, Entry-Level NAS Devices
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What Long-Term Drivers Are Shaping Network Attached Storage Market Trends?
The network-attached storage sector is being propelled forward due to the escalating adoption of 5G technology. The newest version of cellular technology, fifth-generation wireless (5G), has been created to amplify the speed and reactivity of wireless networks substantially. The surge in the use of 5G leads to vast data production, which is managed and stowed by network-attached storage, thereby escalating demand. For example, a study by Global Wireless Solutions, a telecommunications firm based in the United States, showed that in 2022, the proportion of consumers who used 5G networks rose from a mere 43% in 2021 to 61% in 2022 in the United States. This signifies that there was a 42% rise in 5G users in 2022 compared to 2021, a significant jump compared to the previous year's single-digit rise in 5G availability (2020-2021) by 7%. Therefore, the ongoing surge in data production fuels the growth of the network-attached storage market.
Who Are the Top Competitors in Key Network Attached Storage Market Segments?
Major companies operating in the network attached storage market include 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., 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
What Network Attached Storage Market Trends Are Gaining Traction Across Different Segments?
One notable movement in the network-attached storage market is product innovation. Major players in this market are keen on introducing new NAS technologies to solidify their standing. For instance, StorCentric, a data-centric security firm based in the US, rolled out Nexsan EZ-NAS for edge deployments in large firms and small-to-medium businesses in June 2022. This platform includes notable characteristics such as in-line compression, AD support, and data-at-rest encryption, giving it an edge over other products in its category due to its user-friendliness, functionality, and price.
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Which Regions Are Becoming Hubs for Network Attached Storage Market Innovation?
North America was the largest region in the network attached storage market in 2024. The regions covered in the network attached storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Network Attached Storage Market?
2. What is the CAGR expected in the Network Attached Storage Market?
3. What Are the Key Innovations Transforming the Network Attached Storage Industry?
4. Which Region Is Leading the Network Attached Storage Market?
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