The global network attached storage market was valued at USD 22.09 Billion in 2023 and grew at a CAGR of 25.99% from 2024 to 2033. The market is expected to reach USD 138.03 Billion by 2033. The growth of the network-attached storage market can be attributed to the rising generation of unstructured data. Further, the increasing investment in network infrastructure efficiency has played a pivotal role in the market growth.
Network-attached storage is a type of dedicated file storage that makes data retrieval from centralized disc capacity possible for heterogeneous client devices and many users. Users connected to a local area network can access the shared storage using a regular Ethernet connection. NAS devices are usually handled and set up using a browser-based application without a keyboard or display. With a distinct IP address, every NAS is a separate network node on the LAN. NAS is distinguished by its large capacity, affordability, and ease of use. The devices offer a cloud tier, operations like archiving and backup, and centralized storage. The two primary categories of networked storage are storage area networks and network-attached storage. Unstructured data, including audio and video files, text files, and websites, is handled by NAS.
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Increasing demand for data storage: Over the last few years, there has been a significant increase in the global data centre sector. The data centre market is anticipated to expand over the next several years as more businesses embrace cloud computing and hybrid or multi-cloud strategies. Global data platforms are becoming increasingly important, and they are playing a crucial role in supporting flexible AI applications that can handle the enormous amounts of data required. Exponential data growth has created a huge need for enterprise data storage, with major players in the data storage industry eyeing increased adoption of next-generation storage solutions. Given the exponential increase in data, it is clear that the introduction of AI has fundamentally altered the technological landscape. Industry leaders are expected to release more solutions in the coming months to improve the management of information flow throughout the supply chain as the demand for sophisticated storage solutions continues to rise.
Issues in scaling: Organizations must add discs to NAS systems or file servers to expand NAS, which can complicate NAS management and add to expenses. Although NAS might be a viable choice for small-to-medium-sized groups of users to exchange files, scaling to larger volumes can take time and effort. NAS is not the ideal option for high-speed environments requiring high I/O and minimal storage latency.
Increasing investment in 5G technology: Technical advancement is becoming increasingly popular. The fifth generation of mobile network technology is expected to reach one billion customers by the end of 2023 and double that number by 2024. 5G technology is still being used in various industries and can potentially enable previously unimaginable new applications. The desire to invest in technology is growing as a result of the widespread use of this technical advancement in mobile networks, and there are numerous businesses that, as an investor, can become engaged with.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant Network Attached Storage market, with a 35.04% market revenue share in 2023.
North America region will account for the largest market share with revenue growth. The region has a high demand for network-attached storage across different industries, especially in the media, entertainment, automotive, IT and telecommunication industries. Further, many SMEs are investing in network-attached storage as it provides a hub for the ecosystem. Investment in the advancement of network-attached storage in countries like the U.S. and Canada by venture capital investment, entrepreneurs and service providers is leading to the adoption of the technology.
North America region Network Attached Storage Market Share in 2023 - 35.04%
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The type segment is divided into enterprise NAS solutions and midmarket NAS solutions. The midmarket NAS solutions segment dominated the market, with a share of around 59.29% in 2023. Businesses with hundreds of client systems that need to store several hundred terabytes of data can be accommodated by the NAS midmarket. Due to their sophisticated CPUs, these NAS servers are appropriate for hosting applications that provide email systems, data logging, accounting databases, payroll, and video editing.
The storage segment is divided into scale-up and scale-out. The scale-out segment dominated the market, with a share of around 66.02% in 2023. The exponential growth of structured and unstructured data and the performance demands of today's applications are addressed by scale-out network-attached storage. A scale-out storage design uses policy-based administration for increased efficiency and agility, allows nondisruptive operations, and capitalizes on clustered components' greater performance and cost.
The deployment type segment is divided into on-premises, cloud and hybrid. The cloud segment dominated the market, with a share of around 56.72% in 2023. Remote storage that can be accessed online as though it were local is known as cloud NAS or network-attached storage. A third-party service provider usually hosts the storage, charging the user a fee determined by bandwidth and capacity.
The end-use segment is divided into media and entertainment, IT and telecommunication, BFSI, automotive, consumer goods and retail, government and others. The IT and telecommunication segment dominated the market, with a share of around 31.21% in 2023. NAS is a functional layer in telecommunications that sits between the Core Network and the user equipment. It facilitates signalling and traffic messaging between the UE and CN.
|Revenue (USD Billion)
|Market size value in 2023
|USD 22.09 Billion
|Market size value in 2033
|USD 138.03 Billion
|CAGR (2024 to 2033)
|The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
|Type, Storage, Deployment Type and End-use
As per The Brainy Insights, the size of the network attached storage market was valued 22.09 Billion in 2023 to USD 138.03 Billion by 2033.
Global network attached storage market is growing at a CAGR of 20.11% during the forecast period 2024-2033.
North America region emerged as the largest market for the network attached storage.
The market's growth will be influenced by the growing usage of network attached storage across industries.
The issues in latency can hamper the market growth.
The increasing investments in 5G industry are providing huge opportunities to the market.
Key players are Synology Inc., Seagate Technology PLC, NetApp, Inc., IBM Corporation, Dell Technologies, Hitachi Ltd., Western Digital Corporation, Netgear Inc., Hewlett Packard Enterprise Development LP, Buffalo Technology among others.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global network attached storage market based on below mentioned segments:
Global Network Attached Storage Market by Type:
Global Network Attached Storage Market by Storage:
Global Network Attached Storage Market by Deployment Type:
Global Network Attached Storage Market by End-use:
Global Network Attached Storage Market by Region:
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