The European Consumer Network Attached Storage market size was valued at USD 824.5 million in 2016. The market is expected to witness significant growth over the forecast period and is primarily driven by an increase in data that needs to be effectively stored and the need for efficient sharing of data among users in a network.
NAS is a storage device used in a personal or business network. The users are able to access the files stored in a consumer NAS from mobile devices and PCs, without the need to externally plug the consumer NAS device into the PC. The device offers a wide range of storage options to home users, who prefer the system for storing high-definition movies, programs, and photos. The systems can be used by a group of people within a network and as a central server to provide multiple users with extra hard drive space. This is expected to enhance customer experience and drive the demand for the market.
A typical Consumer NAS consists of a Central Processing Unit (CPU), a memory unit, and an operating system. It is available in different configurations such as NAS with pre-installed drives and diskless NAS. The improved level of surveillance security concerns has paved the way for new regulatory mandates, which state that surveillance videos are required to be stored within the network of an organization. This is expected to boost the growth of the Europe consumer NAS market.
The number of tech-savvy individuals is increasing due to improved education and rapid growth in the economy. The disposable income of individuals has increased their purchasing power, which is enabling people to spend on technologically-advanced products. This is further driving the market growth.
Based on end users, the European consumer NAS market has been segmented into home and business. The deployment of NAS in small and medium businesses facilitates a significant reduction in ownership costs. Thus, the business segment is expected to account for a significant market share over the forecast period.
The home segment is expected to witness considerable growth, owing to the increased implementation of consumer NAS as a backup system and media streaming device. The home segment is estimated to grow at a CAGR of 17.4% over the forecast period. Networking ecosystems are transforming into data-based models, from server-based models. The increase in information storage, management, and retrieval activities has compelled consumers to opt for network storage rather than server-based storage.
The presence of large-scale technology companies and significant investments in R&D are some of the major factors driving the regional market. Currently, the UK occupies a significant market share, followed by Germany, owing to the increasing demand and the benefits offered by consumer NAS.
Increasing use of consumer NAS by technology start-ups in the U.K. is expected to lead to a significant increase in the demand for the UK consumer NAS market.
The Italy regional market is anticipated to register a comparatively higher CAGR, owing to the increasing popularity of the benefits of NAS among users. The increase in the purchasing power of individuals, due to growth in disposable income, is expected to spur the growth of the European consumer NAS market.
The key industry participants in the market include Western Digital Corporation, Netgear, Inc., Synology, Inc., QNAP Systems, Inc., Asustor, Inc., Buffalo America, Inc., ZyXEL Communications, Inc., and Thecus Technology Corporation. Consumer NAS systems are widely used by small and medium enterprises as these systems offer features such as easy data storage and backup solutions.
Attribute |
Details |
Base year for estimation |
2016 |
Actual estimates/Historical data |
2014 - 2016 |
Forecast period |
2017 - 2025 |
Market representation |
Revenue in USD Million and CAGR from 2017 to 2025 |
Country scope |
Germany, The U.K., France, Italy, Spain, and Rest of Europe |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
15% free customization scope (equivalent to 5 analysts working days) |
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization |
This report forecasts revenue growth at country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the Consumer NAS market report based on end users, designs, and countries:
End-User Outlook (Revenue, USD Million; 2014 - 2025)
Home
Business
Small Enterprises
Medium Enterprises
Large Enterprises
Design Outlook (Revenue, USD Million; 2014 - 2025)
1-bay
2-bay
4-bay
5-bay
6-bay
Above 6 bays
Country Outlook (Revenue, USD Million; 2014 - 2025)
Europe
Germany
The U.K.
France
Italy
Spain
Rest of Europe
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The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.
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