(MENAFN- Ameliorate Digital Consultancy)
Network Attached Storage Systems Market Overview
The Global nas systems market was valued at USD 23.51 billion in 2022 and is expected to reach USD 42.9 billion by 2028, with a CAGR of 10.14% during the forecast period.
Network Attached Storage (NAS) Systems are devices that allow multiple users to access and share data from a centralized location. NAS systems are commonly used in home and small business environments, as well as in large enterprises that require storage solutions for multiple departments or teams.
The NAS market has experienced significant growth in recent years due to the increasing demand for data storage solutions. NAS systems provide many benefits, including improved data access and sharing, backup and recovery, and security. Additionally, the increasing adoption of cloud-based storage solutions has also contributed to the growth of the NAS market.
The NAS market is segmented by type, application, and end-user. By type, the market is segmented into 1-bay to 8-bay, 8-bay to 12-bay, and above 12-bay NAS systems. By application, the market is segmented into home and SOHO, SMB, and large enterprises. By end-user, the market is segmented into IT and telecom, healthcare, retail, banking, financial services and insurance (BFSI), and others.
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Key Players of Network Attached Storage Systems Market
NetApp Inc. Dell Technologies Inc. Hewlett Packard Enterprise Development LP IBM Corporation Western Digital Corporation Hitachi Data Systems Corporation Synology Inc. QNAP Systems, Inc. Seagate Technology LLC Cisco Systems, Inc.
Covid 19 Impact on Network Attached Storage Systems Market
Positive Impacts:
Increased demand for data storage: As more people started working from home due to the pandemic, the demand for NAS systems increased. This is because companies needed a way to securely store and access data remotely. Rise of remote learning: With schools and universities closed, remote learning became the norm. This led to an increased demand for NAS systems to store and share educational content. Growth in e-commerce: With brick-and-mortar stores closed or operating at reduced capacity, e-commerce experienced a surge in demand. This led to an increased need for data storage and backup solutions, including NAS systems.
Negative Impacts:
Supply chain disruptions: The pandemic led to disruptions in the global supply chain, which affected the production and distribution of NAS systems. Economic slowdown: The pandemic led to an economic slowdown, which affected the purchasing power of consumers and businesses. This resulted in a reduced demand for NAS systems in some regions. Uncertainty in the market: The pandemic has created uncertainty in the market, which has made it difficult for companies to plan their investments and expansion strategies. This has resulted in a cautious approach by some companies, which has slowed down the growth of the market.
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Recent Developments in Network Attached Storage Systems Market
In April 2021, Western Digital Corporation introduced new and advanced data center systems that will cater to the demands of the modern data center environment. In February 2021, Synology Inc. announced the launch of its latest 4-bay NAS, the DiskStation DS920+. This new NAS system is equipped with a powerful Intel Celeron J4125 quad-core processor and comes with 4GB of DDR4 memory, which is expandable up to 8GB. In November 2020, QNAP Systems, Inc. launched the TS-x73AU NAS series, which features high-speed 2.5GbE network connectivity and PCIe expansion. This new series is designed to provide businesses with a reliable and flexible storage solution that can meet their growing data storage needs. In August 2020, Seagate Technology announced the launch of its new IronWolf 125 SSD NAS drive. This new drive is designed to offer users faster access to their data and increased reliability in demanding NAS applications. The IronWolf 125 SSD comes in capacities ranging from 250GB to 4TB and is optimized for use in NAS systems with up to 24 bays.
The key drivers of Network Attached Storage Systems Market
Growing demand for efficient data management solutions Rise of cloud-based services Increasing use of multimedia content Growing popularity of IoT devices Advancements in technology
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Market segmentation of Network Attached Storage Systems Market
By Design Type:
By Storage Solution:
Scale-up NAS Scale-out NAS
By Deployment Type:
By End-user:
BFSI IT and Telecom Government Healthcare Education Media and Entertainment Others
Geographically segmentation of Network Attached Storage Systems Market
North America
United States Canada Mexico
Europe
Germany United Kingdom France Italy Spain Rest of Europe
Asia Pacific
China Japan India South Korea Australia Rest of Asia Pacific
Middle East and Africa
Saudi Arabia United Arab Emirates South Africa Rest of Middle East and Africa
South America
Brazil Argentina Rest of South America
TOC for Network Attached Storage Systems Market
Introduction Executive Summary Market Dynamics Network Attached Storage Systems Market, By Type Network Attached Storage Systems Market, By Deployment Type Network Attached Storage Systems Market, By End-user Network Attached Storage Systems Market, By Region Competitive Landscape Company Profiles Appendix
FAQs
✱What is the current size of the Global Network Attached Storage Systems Market?
Ans- The Global NAS systems market was valued at USD 23.51 billion in 2022 and is expected to reach USD 42.9 billion by 2028, with a CAGR of 10.14% during the forecast period.
✱Which are the prominent players in the Global Network Attached Storage Systems Market?
Ans- Prominent players in the Global Network Attached Storage Systems Market include Dell Technologies, Hewlett Packard Enterprise (HPE), Western Digital Corporation, NetApp Inc., Hitachi Data Systems Corporation, Seagate Technology LLC, QNAP Systems, Inc., Synology Inc., ASUSTOR Inc., Buffalo Americas Inc., Thecus Technology Corporation, Infortrend Technology Inc., and so on.
✱What are the driving factors in the Global Network Attached Storage Systems Market?
Ans- The driving factors in the Global Network Attached Storage Systems Market include the increasing need for data backup and archiving, the growing demand for efficient data management solutions, the rising adoption of cloud-based services, the proliferation of big data and IoT devices, and the rising demand for high-performance storage systems with low latency and high throughput.
✱Which region will lead the Global Network Attached Storage Systems Market?
Ans- North America is expected to lead the Global Network Attached Storage Systems Market due to the increasing adoption of cloud-based storage solutions and the presence of prominent players in the region.
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