Network Attached Storage (NAS) Market is valued approximately USD 20.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.7 % over the forecast period 2020-2027. Network Attached Storage (NAS) is used for storage and retrieval of data from a centralized disk capacity. It is connected to local area network (LAN) and can be used by heterogeneous users at a time to store and access their data safely. These devices are controlled by the browser-based utility and are quite flexible and can be scaled out if additional storage is required. Network Attached Storage (NAS) are faster, user-friendly, having the high capacity at a fairly low cost. The global Network Attached Storage (NAS) is being highly demanded due to the coronavirus pandemic as employees are asked to work from home and organizations are temporary shutdown.
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So various companies are adapting Network Attached Storage (NAS) for operating their business efficiently. The government focus on digitization leading to massive growth in digital data, increased use of smartphones, laptops, and tablets resulting in generation of large volumes of data and rapid adoption of 4G and 5G technologies creating high-volume digital content are the factors responsible for the growth of the market over the forecast period. For instance: as per Statista, the global smart phone penetration rate was 33.5% in 2016 and is increased to 44.9% in 2020. Furthermore, the introduction of products and services and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 24th October 2019, Western Digital Corporation launched an array of purpose-built storage solutions for small businesses and home offices leveraging NAS environments. The solution consists of WD Red SSDs, which enhance performance and caching abilities in a hybrid NAS environment, as well as a 14TB capacity for the WD Red and WD Red Pro HDDs. However, prime concern of data security when data is stored at remote location which is the major factor restraining the growth of global Network Attached Storage (NAS) market during the forecast period.
The regional analysis of global Network Attached Storage (NAS) Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the presence of numerous small and mid-scale companies in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Dell Technologies Inc.
Netapp, Inc.
Hewlett Packard Enterprise Company (HPE)
Hitachi, Ltd.
Western Digital Corporation
Seagate Technology Public Limited Company (PLC)
Netgear, Inc.
Synology, Inc.
Buffalo Americas, Inc.
QNAP Systems Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software
Deployment Mode:
On-Premises
Remote
Hybrid
By End-User:
Banking, Financial Services, and Insurance (BFSI)
Consumer goods and retail
Telecommunications and ITES
Healthcare
Energy
Government
Education and research
Media and entertainment
Manufacturing
Business and consulting
Others
by Design:
1Bay to 8 Bays
8 Bays to 12 Bays
12 Bays to 20 Bays
More than 20-bays
by Storage:
Scale-up NAS
Scale-out NAS
By Product:
Enterprise NAS Solutions
Midmarket NAS Solutions
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market research objective you provided focuses on conducting a comprehensive analysis of a specific market. Here is a breakdown of the research objectives you mentioned:
To analyze and forecast the market size of the market:
- This objective involves assessing the current market size and using historical data and market trends to forecast its future size.
- This analysis helps in understanding the market’s growth potential and opportunities.
To classify and forecast the global market based on product, material, application, and region:
- This objective aims to categorize the market based on different factors such as product types, materials used, applications, and geographical regions.
- It also involves forecasting the market size and growth for each category, providing a detailed understanding of market segmentation.
To identify drivers and challenges for the global market:
- This objective focuses on identifying the factors that drive market growth and those that pose challenges or constraints.
- Understanding the drivers helps in recognizing opportunities, while understanding the challenges allows for mitigation strategies and informed decision-making.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the market:
- This objective involves analyzing the competitive landscape of the market. It includes studying activities such as mergers and acquisitions, agreements, collaborations, and partnerships among market players.
- This analysis provides insights into the market’s competitive dynamics and strategic moves by key players.
To conduct pricing analysis for the market:
- This objective aims to analyze pricing strategies within the market. It involves assessing pricing trends, price variations based on different factors, and understanding price sensitivity among customers.
- This analysis helps in formulating effective pricing strategies for market players.
To identify and analyze the profile of leading players operating in the market:
- This objective involves profiling and analyzing the key players in the market. It includes studying their business strategies, financial performance, product portfolios, market share, and competitive advantages.
- This analysis helps in understanding the competitive landscape and benchmarking against industry leaders.
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