LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global consumer and small and medium-sized business (SMB) network-attached storage (NAS) market to grow at a CAGR of more than 11% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global consumer and SMB NAS market for 2016-2020. To calculate the market size, the report considers revenue generated from the shipment of NAS systems for individual consumers, SOHOs, and SMBs.
Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global consumer and SMB NAS market:
- Increased need for video surveillance at home
- Requirement for personal data backup
- Increase in number of connected home devices
- Increased demand for secure and reliable storage solutions
Increased need for video surveillance at home
Keeping in mind the safety of near and dear ones, home users have increased the implementation of video surveillance services at home. Many consumers install surveillance cameras both inside and outside their residences. Using NAS devices for storing and processing these video surveillance camera feeds will become a requirement because 24/7 feeds are difficult to store and process through a direct-attached storage (DAS) appliance.
The storage of videos requires large storage space and fast data transmission. NAS appliances allow remote access to the stored data. Many NAS devices have built-in features of automatic data backup.
Requirement for personal data backup
Along with business data, personal data is also growing at an exponential rate following the developments in many industries such as consumer electronics and entertainment. Social media is acting as a potent ingredient in innovation with regard to devices such as smartphones and tablets. Social media is helping in connecting family and friends living worldwide.
Personal NAS storage devices assist in storing personal data in the form of documents, photos, and videos. Many end-users also access videos on the Internet and store them on their personal storage devices Formerly, personal hard drives were the popular product in the storage market for individual users.
According to Rakesh Kumar Panda, one of Technavio’s lead analysts for research on data center, “NAS devices offer several features and benefits compared to personal hard drives and are gaining popularity among users because they are a network device that can be connected to many wireless devices for data transfer.”
Increase in number of connected home devices
Many individuals use Wi-Fi-enabled devices such as smartphones, tablets, and laptops, to communicate for personal and professional purposes on a global scale. These devices also have internal and external storage, which is useful for storing files, pictures, and videos as a form of immediate storage. The capacities of these devices are increasing, but they will not be sufficient to accommodate significant amounts of data. NAS devices facilitate the transfer of data from these devices wirelessly and through storage management applications. Most individuals would prefer a permanent storage solution for music and movie files.
Individual users also download music and video files and store them on NAS devices. Automated storage operations are also available in NAS devices where the files are copied automatically by synchronizing these devices. Data can be transferred between connected devices by using an NAS device as a file-sharing medium.
Increased demand for secure and reliable storage solutions
The ease and convenience at which a NAS device can be installed and without any technical learning is one of the main advantages for its popularity. Customers are provided with a complete guide and support from NAS vendors for the installation and configuration of the devices. The devices are pre-installed with a vendor-designed OS, which delivers a user-friendly interface for configuration. This OS also enables individual consumers to manage stored data at any point of time.
In addition, NAS devices are compatible with any hardware or network, which eases network management for individual users. NAS devices have their own IP address and do not consume network bandwidth from other devices. “With the online management of the NAS network, there is a considerable reduction in network complexity. Continuous innovations by vendors in the NAS market will help individual consumers in resolving compatibility issues of the future,” adds Rakesh.
Browse Related Reports:
- Global Consumer NAS Market 2016-2020
- Global Enterprise Storage Market 2016-2020
- Global SMB and SME NAS Market 2016-2020
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