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2025-2034 Network Attached Storage Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Network Attached Storage
What Will the Network Attached Storage Industry Market Size Be by 2025?
The size of the network attached storage market has significantly expanded in the past few years. Its growth trajectory indicates a surge from $38.92 billion in 2024 to $44.73 billion in 2025 with a compound annual growth rate (CAGR) of 14.9%. This growth pattern in the past period can be linked to aspects like business continuity planning, the amalgamation of cloud and hybrid solutions, spreading out of home and personal use, necessity for security and compliance, and the demand from the media and entertainment sector.
What's the Long-Term Growth Forecast for the Network Attached Storage Market Size Through 2029?
In the coming years, the network attached storage market size is predicted to grow swiftly, increasing to a value of $89.6 billion by 2029 with a compound annual growth rate (CAGR) of 19.0%. Factors contributing to the growth during this projected period include the proliferation of data and big data, increased remote work and collaboration, enhanced security and data protection measures, a surge in media and entertainment consumption, and the adoption by small and medium enterprises (SMEs). Key trends forecasted for the period include solutions for disaster recovery and backup, increased usage by SMEs and homes, demands from the media and entertainment industry, workloads related to AI and analytics, and the integration of edge computing.
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What Are the Key Growth Drivers Fueling the Network Attached Storage Market Expansion?
The expansion of 5G technology utilization is anticipated to fuel the growth of the network-attached storage market. The recent version of cellular technology, fifth-generation wireless (5G), is engineered to significantly enhance the speed and capability of wireless networks. This surge in 5G usage results in enormous data creation, which is managed and housed by network-attached storage systems, thereby increasing their demand. As an illustration, data from a report by Global Wireless Solutions, a US-based telecom firm, in 2022 indicates that the users of 5G networks rose from a mere 43% in the previous year to 61% in 2022 in the United States. This reveals a 42% increase in 5G network users in 2022 compared to 2021, which is a significant rise relative to the single-digit 7% growth in 5G connectivity in the preceding year (2020-2021). Hence, the escalating generation of data is bolstering the market for network-attached storage.
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What Are the Key Trends Driving Network Attached Storage Market Growth?
The trend of product innovation is heavily influencing the network-attached storage market. Major players in this market are prioritizing the development of new NAS solutions in an attempt to bolster their position. StorCentric, a data-centric security company from the US, in June 2022, introduced their Nexsan EZ-NAS for edge deployments by large corporate bodies as well as for small and medium-sized enterprises (SMEs). The Nexsan EZ-NAS platform is offering state-of-the-art enterprise features including in-line compression, AD support, and data-at-rest encryption. It's uniqueness in, usability, capability, and pricing sets the Nexsan EZ-NAS product apart from other products in its category.
How Is the Network Attached Storage Market Segmented?
The network attached storagemarket 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
Subsegments:
1) By High-End Or Enterprise: Multi-Protocol Support NAS, Scalable Storage Solutions, High Availability Systems
2) By Midmarket: 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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