"Smart Strategies, Giving Speed to your Growth Trajectory"

Network Attached Storage Market Size, Share & Industry Analysis, By Enterprise Type (SoHo: <10 FTEs, Mid-size: <1,000 FTEs, and Large Enterprise: >1,000 FTEs), By Storage Solution (Scale-up NAS and Scale-out NAS), and Regional Forecast, 2024-2032

Last Updated: October 14, 2024 | Format: PDF | Report ID: FBI100505

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global network attached storage market size was valued at USD 34.62 billion in 2023. The market is projected to grow from USD 40.33 billion in 2024 to USD 129.52 billion by 2032, exhibiting a CAGR of 15.7% during the forecast period. The Network Attached Storage Market in the U.S. is projected to grow significantly, reaching an estimated value of USD 36.09 billion by 2032, driven by Increasing Product Launches and Investments in Network Technologies. 


Network Attached Storage (NAS) is a data storage solution device connected to the network, that allows consumers authorized on the network and different clients to store and retrieve data from one central location. These devices have been quickly paving their way into the market due to the advent of Gigabit Ethernet and high-speed transport protocols. Network attached storage devices cater to several requirements, such as video data storage for law enforcement agencies, video data editing and retention in broadcasting environments, record maintenance and data analytics in the finance industry, and secure and cost-adequate storage in the healthcare industry, to name a few. Also, it is convenient for High-Performance Computing (HPC) requirements. Network attached storage manufacturers are targeting cloud storage services, such as OneDrive, Google Drive, and Dropbox as storage is NAS’s area of competence. Additionally, the price of NAS being cheaper than traditional private cloud storage is one factor driving the market`s growth.


Network-attached storage (NAS) is a storage solution that stores data in a central location and makes it accessible to authorized consumers and various clients on the network. Gigabit Ethernet and high-speed transport protocols brought these devices to the market. Network-attached storage devices meet various needs, such as video data storage for law enforcement, video data processing and storage in broadcast environments, records maintenance and data analysis in the financial industry, and secure and cost-effective storage in the medical field. It is also suitable for high performance computing (HPC) requirements. Since storage is part of his NAS specialty, network storage manufacturers target cloud storage services such as Google Drive, OneDrive, and Dropbox. Moreover, the lower price of NAS compared to traditional private cloud storage is also a factor driving the market growth.


The pandemic heavily impacted the NAS market due to increased investments in data storage solutions. There is a demand for effective storage solutions due to the daily increase in data. The manufacturers of network attached storage devices recognized this rising inclination. They made necessary investments, such as new product launches, enhancements to the existing network attached storage solutions, and relevant collaborations.


Network Attached Storage Market Trends


Rising Importance of Integration of NAS Devices with Cloud Platforms to Propel Market Growth


Seamless integration between effective cloud platforms and storage equipment becomes essential as NAS manufacturers heavily depend on cloud storage for data backup, synchronization, and remote access. This integration allows users to synchronize their data between a NAS device and a cloud service, thus increasing accessibility and redundancy of information. Network-attached storage devices allow users to access files on any device, whether a mobile phone, tablet, or computer, and are compatible with cloud services. Additionally, organizations are adopting cloud data storage to eliminate physical limitations and allow convenient and easy access to important documents, media files, and other data.


According to a industry experts, by 2025, more than 95% of all fresh digital data workloads will be shifted to cloud-based platforms, up from 30% in 2021. This strategy is also expected to drive the market during the forecast period.


Request a Free sample to learn more about this report.


Network Attached Storage Market Growth Factors


Increasing Product Launches and Investments in Network Technologies is expected to Drive Market Growth


The penetration of intelligent internet technologies has provided an ideal platform for network attached storage devices. With increasing inclination toward digital transformation and the rise in the volume of electronic data, organizations are investing and launching new products to provide enhancements in data storage and security. For instance,


In September 2023, Huawei launched an all-flash OceanStor Pacific 9920 array and shared details about its compression and ransomware recovery. This system aims to qualify the application performance requirements for several virtual machines.


With the increasing data ecosystem, adequate storage becomes vital to store data efficiently. Thus, the rapid deployment of 5G and a rebound in data usage drives this market.


RESTRAINING FACTORS


Concerns Related to Data Theft and Server Breaches Hampers Market Growth


The primary restraining factors of the market include concerns related to data theft and server breaches. These concerns impact network attached storage devices’ adoption as end-users hesitate to invest. In addition to these factors, the traffic over the LAN and the lack of adequate infrastructure for data security hamper market growth. According to Cujo AI cybersecurity report in 2023, network attached storage devices are targeted by 100s of times more threats than an average device. Moreover, the software's migration cost hinders this market growth.


Network Attached Storage Market Segmentation Analysis


By Enterprise Type Analysis


Customized NAS Solutions to Attract Mid-Size Enterprises Leading to Their Dominance in the Enterprise-Type Space


Based on enterprise type, the market is distributed into SoHo: <10 FTEs, mid-size: <1,000 FTEs, and large enterprise: >1,000 FTEs. The mid-size segment leads the market and is expected to continue its dominance in the coming years. This demand is due to customized NAS solutions' availability, which provides them with scalable, effective, and low-cost storage.


SoHo and large enterprises are expected to maintain steady and similar growth in the coming years. The rise in variety of smart city projects is fueling the growth of global data centers. This rise is further expected to bolster the demand for NAS solutions across the large and SoHo enterprises.


To know how our report can help streamline your business, Speak to Analyst


By Storage Solution Analysis


Scale-up NAS Devices Dominate Owing to Economic Viability and Efficiency


Based on storage solution, the market is distributed into scale-up NAS and scale-out NAS. The scale-up NAS segment is leading the market owing to the lower cost associated with licensing and the addition of equipment such as networking and better efficiency.


The scale-out NAS devices are expected to grow with the highest CAGR in the coming years. The finding states that the capability of scale-out NAS devices to support high-capacity, high-performance, and high-file-count workloads with low latency is expected to contribute to the growing popularity of these solutions.


REGIONAL INSIGHTS


By region, the market is analyzed across five regions, namely North America, South America, Europe, Middle East & Africa, and Asia Pacific.


North America Network Attached Storage Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


North America dominated the market in 2022, with the most prominent part in the overall network attached storage market share. The region has witnessed a rise in demand for NAS solutions due to increased digital infrastructure, connected devices, increasing adoption of artificial intelligence (AI)-based solutions, and the volumes of data from enterprises. In addition, NAS plays a critical part in the data center storage space. Thus, the presence of large numbers of data centers in the U.S. proves to be one of the essential factors for the sale of NAS across the region.


Asia Pacific is expected to grow with a promising CAGR during the forecast period. This positive growth rate is expected due to the increasing capacity volume within the decentralized storage networks, with hundreds of petabytes being onboarded, which might create demand for NAS.


Europe maintains a steady growth in generating revenue for the NAS market compared to other regions across the globe. The increasing push from governmental bodies to invest in emerging technologies has created demand for NAS devices across the region.


The MEA and South American region is expected to grow gradually in recent years. This is due to the recent shift from traditional storage systems to NAS solutions across both regions. NAS has emerged as a cost-effective solution for storing and handling high data volumes for end users. 


List of Key Companies in Network Attached Storage Market 


Leading Companies Adopting Relevant Business Strategies to Benefit the Market Positively


The key market companies have focused on several business growth strategies, such as product launches and relevant partnerships. These strategies help them to strengthen their position in the market landscape. In addition, these players are also focusing on several essential business strategies, such as global expansion to increase their customer base, a strategic shift to a service-oriented (recurring) business model, and investments in no-code/low-code technologies and generative AI, which leads to product efficiency.


List of Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • January 2024:  Ugreen collaborated with Intel to launch UGREEN NASync network attached storage devices. This product lineup comes with automated decision-making ability and storage efficiency.

  • September 2023: QNAP launched a network expansion card, QXG-10G2T 10 GbE, dedicated to users that need simultaneous data access with lower latency. These end-users can be professional videographers, photographers, or part of a collaborative team. This new launch is a dual-port, advanced, 5-speed 10 GbE (RJ45) network expansion card, which acts as a cost-effective and energy-efficient solution for several networking needs. The card enhances the workflow efficiency of both NAS and PC users by offering them a seamless experience.

  • August 2023: Buffalo introduced a product transition to While Supplies Last for its TeraStation 6000 and 5010 Series NAS product families. The company also aims to transform the new TeraStation 5020 Series product family. All transformed products will be sold through the company’s authorized sales channels.

  • June 2023: Synology introduced a new addition to the entry-level J Series, the 2-bay DiskStation DS223j. This launch is focused on catering to the needs of home office and small teams. The DS223j is a NAS that uses the company’s intuitive DiskStation Manager and features several options and applications for everyday data storage and management, including video surveillance, file syncing and sharing, and backup.

  • April 2023: Seagate collaborated with QNAP Systems Inc. to deliver its complete portfolio of edge-to-cloud enterprise storage offerings. These products are dedicated to SMBs and content creators and include a wide range of advanced solutions, such as QNAP’s high-capacity NAS solutions with Exos E series JBOD systems, Seagate Lyve Cloud, Seagate’s IronWolf Pro Hard Drives (HDD).

  • March 2023: IBM partnered with Cohesity, a data security and backup provider, to incorporate Cohesity’s data protection functionality into the company’s storage product suite. This new launch, Storage Defender, has been developed to protect customers' organizations’ critical information better.


REPORT COVERAGE


An Infographic Representation of Network-Attached Storage Market

To get information on various segments, share your queries with us



The report delivers a detailed analysis of the market. It captures vital aspects such as key companies, their leading product offerings, a detailed average selling price analysis, and the solutions' leading applications. In addition, the report provides insights into the market trends and highlights key industry developments. Besides, the report is a complete ensemble of several factors that contributed to the growth of this market in recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 15.7% from 2024 to 2032



Unit



Value (USD Billion)



 


 


 


 


 


 


 


 


 


 


 


 


 


Segmentation



By Enterprise Type



  • SoHo: <10 FTEs

  • Mid-size: <1,000 FTEs

  • Large Enterprise: >1,000 FTEs


By Storage Solution



  • Scale-up NAS

  • Scale-out NAS


By Region



  • North America (By Enterprise Type, By Storage Solution, and By Country)

    • US

    • Canada

    • Mexico



  • South America (By Enterprise Type, By Storage Solution, and By Country)

    • Brazil

    • Argentina

    • Rest of South America



  • Europe (By Enterprise Type, By Storage Solution, and By Country)

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe



  • Middle East & Africa (By Enterprise Type, By Storage Solution, and By Country)

    • Turkey

    • Israel

    • GCC Countries

    • North Africa

    • South Africa

    • Rest of MEA



  • Asia Pacific (By Enterprise Type, By Storage Solution, and By Country)

    • China

    • India

    • Japan

    • South Korea

    • ASEAN

    • Oceania

    • Rest of APAC








Frequently Asked Questions

According to Fortune Business Insights, the market is projected to reach USD 129.52 billion by 2032.

In 2023, the market was valued at USD 34.62 billion.

The market is projected to grow at a CAGR of 15.7% during the forecast period.

The mid-size: <1,000 FTEs segment is expected to lead the market.

Increasing product launches and investments in network technologies, such as 5G that produce high-volume electronic data, are expected to drive growth.

Dell Technologies Inc., IBM Corporation, QNAP Systems, Inc., Synology Inc., and NetApp, Inc. are the top players in the market.

North America is expected to hold the highest market share.

By enterprise type, the mid-size: <1,000 FTEs is expected to grow at the highest CAGR during the forecast period.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 107
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X