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Network Attached Storage Market: Major Trends Reshaping the Future of the Industry
Network Attached Storage
What Will the Network Attached Storage Industry Market Size Be by 2025?
In recent times, the Network Attached Storage market has seen substantial growth, and it's expected to balloon from $38.92 billion in 2024 to $45.08 billion in 2025, showcasing a compound annual growth rate (CAGR) of 15.8%. Various reasons for this substantial progression in the previous period include the rise in business continuity planning, the surge in cloud integration and hybrid solutions, an extension in home and personal use, security and compliance requirements, and a boom in the media and entertainment sector demands.
What's the Long-Term Growth Forecast for the Network Attached Storage Market Size Through 2029?
The expansion of the network attached storage market is projected to accelerate rapidly in the forthcoming years, with expectations to reach a volume of $91.52 billion in 2029, progressing at a compound annual growth rate (CAGR) of 19.4%. This anticipated increase over the projected period could be credited to factors such as data growth and big data, remote working and cooperative efforts, the necessity of data security and protection, the surge in media and entertainment consumption, and the adoption by small and medium enterprises (SMEs). Key trends to look forward to in the predicted period are disaster recovery and backup solutions, increased usage by SMEs and households, demands from the media and entertainment industry, AI and analytic workloads, and the integration of edge computing.
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What Are the Key Growth Drivers Fueling the Network Attached Storage Market Expansion?
The expanding adoption of 5G technology is predicted to fuel growth in the network-attached storage market. 5G, or fifth-generation wireless, is the latest version of cellular technology, engineered to significantly enhance the speed and responsiveness of wireless networks. As the use of 5G expands, it results in massive data creation. This data is managed and stored via network-attached storage, thus boosting demand. For example, a 2022 report by Global Wireless Solutions, a telecommunications company based in the U.S., showed a rise in 5G network usage. The proportion of customers utilizing 5G networks in the U.S. surged from a mere 43% in 2021 to 61% in 2022. This suggests a 42% rise in 5G network users in 2022 compared to 2021, a significant jump from the single-digit 7% increase in 5G accessibility the prior year (2020-2021). Hence, the surge in data creation is stimulating the network-attached storage market.
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What Are the Key Trends Driving Network Attached Storage Market Growth?
Product innovation emerges as a principal trend in the network-attached storage market. Leading firms in this market are emphasizing on the creation of fresh NAS solutions to consolidate their standing. For example, StorCentric, an American firm specializing in data-centric security, unveiled its Nexsan EZ-NAS in June 2022. This was designed specifically for edge deployments in large corporations as well as small to medium-sized enterprises (SMEs). The Nexsan EZ-NAS platform delivers superior enterprise-grade features such as in-line compression, AD support, and encryption of data at rest. Nexsan EZ-NAS differentiates itself from its competitors on the basis of its user-friendliness, function, and affordability.
How Is the Network Attached Storage Market Segmented?
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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Which Companies Are Leading the Charge in Network Attached Storage Market Innovation?
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
Which Regions Are Leading the Global Network Attached Storage Market in Revenue?
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
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