The global network attached storage (NAS) market is expected to grow at a significant pace over the forecast period. NAS provides storage and retrieval facility for data from a centralized location for heterogeneous clients authorized network users and authorized network users. Network attached storage market is expected to witness significant growth over the forecast period owing to its features such as flexibility & scale-out, easy setup, and economical installation & maintenance costs. The configuration of NAS can be done easily through connected devices such as computers.
The primary drivers of the network attached storage industry are increasing the need to access data anytime, anywhere in the corporate network and internet. Growing adoption of remote & virtual office environments, business continuity planning, and the ensuring need to provide remote access to corporate networks to employees is fuelling the demand for the NAS technology. Business operations require maintaining the backup of confidential data; NAS devices are just the right fit. The increase in the use of this technology is because these backup targets and files to store copies of data. Data compression ability in NAS devices to store a duplicate copy of data will increase the adoption of NAS devices. Data deduplication replaces duplicate files on the NAS network which tags the files referring to the original file which reduces the number of duplicate entries, thereby enhancing the efficiency of the searching capability. However, data security is the primary concern among the enterprises due to misuse of privileged access leading to corporate espionage.
Demand is expected to remain high among the small and medium enterprises, as NAS devices provide a cost-effective solution for these firms which are often saddled with issues, such as, limited access to IT and financial resources. The network attached storage market is gradually witnessing a transition from small and medium business to specific solutions to more advanced large enterprise-oriented solutions. The SMBs adopt this solution for relevant data storing and sharing applications; big organizations uses NAS for standard data sharing which is not necessary applications, and for specific workgroups, departments, and remote offices.
Network-attached storage can be segment based on deployment, organization size, and verticals. On the basis deployment, it is segmented as on-premise and cloud based. By the scale of an organization, it is segmented as the large, small & medium enterprise. By verticals, it is segmented as government communications, media & services, banking & securities, manufacturing, natural resources, insurance, retail, transportation, healthcare, education, utilities, and wholesale trade.
North America is recognized as the critical region for the network attached storage market owing to the presence of primary NAS providers, increase in the number of Small & Medium Enterprise (SME), and adoption of cloud technology for sharing corporate, personal & media files. The network-attached storage market in Europe is expected to grow at a sluggish rate as the region is experiencing a dip in its overall IT spending.
The Asia Pacific region is projected to observe significant growth rate over the forecast period owing to the improvement in network infrastructure, an increase in the use of portable devices such as laptops and mobiles to access the data. Growing demand from the consumer to share the media files through cost-effective, fast, and easily assessable method. The industry holds a positive growth over the next seven years due to emerging economies of countries such as India and China.
Key players in the network attached storage market are Dell Inc., Buffalo Inc., EMC Corporation, Hewlett-Packard, IBM Corporation, Hitachi Data Systems Corporation, NetApp Inc., LSI Corporation, Overland Storage Inc., NetGear Inc., Panasas Inc., and SGI Corporation.
In February 2016, Hewlett-Packard launched HPE StoreEasy 1650 which helps new and growing businesses overcome storage challenges. It offers affordable dual-controller hybrid flash array, boots sharing speed, and is available at very low cost.
In January 2014, IBM launched X-Architecture for x86-based servers, it offers provides up to 12.8 terabytes of ultrafast flash storage fast & integrated eXFlash memory-channel storage, and provide significantly lower latency for database operations.
In May 2013, Buffalo Inc., the designer, developer, and manufacturer of wired and wireless networking and network and direct attached storage solutions, launched the TeraStation 5000 WSS Series of high performance network attached storage appliances based on Windows Storage Server 2012, delivering a highly cost-effective solution for SMB and Enterprise customers. It also offers enhanced operation and seamless integration with Windows computers and servers.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.