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The global network attached storage market size stood at USD 29.72 billion in 2022. The market is predicted to rise from USD 34.62 billion in 2023 to USD 100.83 billion by 2030, recording a CAGR of 16.5% from 2023 to 2030.
Fortune Business Insights™ presents this information in its report titled, “Network Attached Storage Market Size, Share & COVID-19 Impact 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, 2023 – 2030”.
Network Attached Storage (NAS) is a data storage solution device attached to the network, allowing consumers to collect and retrieve data from one central location. The emergence of Gigabit Ethernet and high-speed transport protocols is contributing to market expansion. Increasing adoption of network attached storage over conventional private cloud storage due to its affordability is driving market growth.
Increased Investments in Data Storage Solutions amid the Pandemic Fostered Market Growth
The coronavirus pandemic positively impacted the market growth. Increased investments in data storage solutions amid the pandemic propelled market growth. Higher demand for effective storage solutions due to increased data generation during the COVID-19 outbreak fostered demand for network attached storage services.
QNAP Introduced a Network Expansion Card, QXG-10G2T 10 GbE
In September 2023, a network expansion card, QXG-10G2T 10 GbE, exclusive for users that require simultaneous data access with lower latency was introduced by QNAP. These end users are professional videographers, photographers, or are part of a collaborative team. It is a dual-port, innovative, 5-speed 10 GbE (RJ45) network expansion card, which is an affordable and energy-efficient solution for many networking requirements. By providing them a smooth experience, the card improves the workflow efficiency of both NAS and PC users.
Increasing Adoption of Cloud Data Storage Solutions by Organizations to Augment Market Progress
NAS producers need cloud storage for data backup, synchronization, and remote access. Rapid integration of effective cloud platforms and storage equipment is expected to boost market expansion in the coming years. This integration enables users to organize their data between a network attached storage device and a cloud service, thus boosting accessibility and redundancy of information.
Network attached storage devices support users to access files on mobile phones, tablets, or computers and are compatible with cloud services. Moreover, the increasing adoption of cloud data storage solutions by organizations to avoid physical limitations and enable convenient and easy access to significant documents, media files, and other data is boosting market expansion.
However, market growth is hampered by concerns related to data theft and server breaches.
Major Companies Focus on Product Introductions to Maintain their Market Positions
Prominent companies are implementing different strategic initiatives, including product introductions and partnerships. These initiatives are supporting them to boost their market presence. Moreover, market leaders are focusing on product efficiency and global expansion through investments in no-code/low-code technologies, shift to a service-oriented (recurring) business model, and generative artificial intelligence (AI).
Notable Industry Development
List of Key Companies Profiled in the Report:
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Further Report Findings:
Table of Segmentation
CAGR of 16.5% from 2023 to 2030
Value (USD Billion)
By Enterprise Type
By Storage Solution