LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global consumer, SOHO, and SMB NAS market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Consumer, SOHO, and SMB NAS Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
Network-attached storage (NAS) systems play a vital role in fulfilling the operational needs of every enterprise. Small office home office and SMBs need NAS that is cost-effective and reliable and offers exceptional performance, scalability, and durability. The market for NAS among consumer, SOHO, and SMBs is likely to grow significantly due to continuous innovations by vendors.
“NAS increases the ability of an organization to work in mission critical environments. The growth of both structured and unstructured data via desktop and portable devices connected to the Internet will boost the market growth for NAS. The shift in adoption from external hard drives to the NAS market will play a vital role in shaping market dynamics,” says Abhishek Sharma, a lead analyst at Technavio for M2M and connected devices research.
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The market research analysis categorizes the global consumer, SOHO, and SMB NAS market into three major end-user segments. They are:
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Small businesses with an employee count of more than 19 and less than 50 are considered small and medium-sized businesses (SMBs). These organizations encompass the SOHO business and require NAS to store and process surveillance videos.
“There are many SMBs such as small analytics firms that operate with a large amount of data shared among users for collaborative working purposes. The need for SMB NAS storage is likely to be high among these companies in keeping with technological advances and increasing business demands,” says Abhishek.
The SOHO segment covers small offices with more than four and less than 20 employees. It includes creative enterprising, small business startups, and other small ventures that require NAS systems to store surveillance videos for security purposes. Vendors in the market are focusing on the development of NAS systems for surveillance purpose with the emergence of many small startups. However, the adoption of NAS devices may decline due to the exponential growth of data and subsequent technological innovations in storage hardware with higher storage capacities. This will increase the need for high-performance NAS systems required by SMBs.
End-users of this segment include small-scale individual consumers, photographers, audio professionals, and videographers. They prefer to use NAS units up to 5-bay, whereas 1-bay units are more popular among individual consumers. Technological advances have increased the need for storage among home users and creative professionals. Thus, 1-bay units are also available with a storage capacity of up to 8TB.
The use of external hard drives among individual consumers is still higher. The lack of awareness about NAS systems in developing countries is a major challenge for the market growth. However, vendors such as Apple and Seagate Technology are also witnessing the higher adoption of their products, namely, Time Capsule and personal cloud storage media among individual consumers.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Buffalo Americas
- QNAP Systems
- Western Digital Corporation
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