DUBLIN--(BUSINESS WIRE)--The "Network Attached Storage (NAS) Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The network attached storage market (NAS) is set to grow at a CAGR of 19.5% by 2024.
It is estimated that more than 80% of midmarket and enterprise organizations are using NAS, for some tier of storage in exceeding capacity, when compared to other storage types, such as DAS and SAN. The major factors driving the market include - explosion in unstructured data, increasing footprint of scale-out NAS in enterprise IT systems, and focus on network virtualization and software-defined NAS.
- The increasing adoption of NAS systems in enterprise environments is driving vendors toward creating customized NAS solutions, for businesses aiming at NAS as a full-fledged data management solution.
- The integration of on-premise NAS with cloud storage is expected to gain traction in the future, facilitating total control over the data in the NAS and in backing up and archiving data in the cloud. Several vendors are involved in integrating the existing NAS system with the popular cloud storage services, like Amazon S3 especially, for storage provisioning.
- The ease of access, reasonably low cost, and high capacity are some of the significant features attracting the enterprise. It also provides a performance advantage over DAS in many cases, especially when multiple devices need to access storage. Depending on network traffic factors and storage communication protocol preferences, NAS may also be more effective than SAN for some workloads.
- The growing cloud adoption can hinder the studied market growth; however, the integration of on-premise NAS with cloud storage is expected to gain traction in the future, facilitating total control over the data in the NAS and in backing up and archiving data in the cloud.
- In February 2019, US-based Pure Storage introduced its ObjectEngine, a cloud backup target for FlashBlade NAS appliances, mainly to reduce data locally and shuttle it to S3-based object storage for analytics, DR, and reuse.
Scope of the Report
Network Attached Storage (NAS) is a networked appliance containing storage drives that provide file-based storage services to devices throughout a network. It also helps other servers to avoid the task of serving data to other servers on the network, which occurs with Direct-attached Storage (DAS).
Key Market Trends
Increasing Adoption of Cloud Hindering the Growth of the Market
- The deployment of these solutions over the cloud offers greater convenience, as the service vendor is responsible for providing maximum uptime, data security, and periodic updates, thus decreasing the total cost of ownership.
- The current market trends, including the delivery of these solutions on the pay-as-you-go model and SaaS models, wherein the service vendors also assume the responsibility of maintaining data and application information, are further driving the adoption of these solutions.
- Moreover, this mode has recorded an increase in deployment in small-/medium-scale businesses, as it cuts down the capital expenditure involved in building the required infrastructure on their premises. This continuing trend is significantly hindering the growth of the market.
North America to Hold Highest Share in the Market
- Owing to its early adoption of advanced analytics solutions involving huge data storage requirements, North America holds the largest market share.
- The United States is projected to hold the highest share within the region. The United States accounts for 30% of the global market share, in digital transformation led by the professional services, discrete manufacturing, and transportation industries.
- The usage of digital solutions in these sectors has resulted in the generation of significant amounts of unstructured data, because of which companies are deploying more NAS systems, to accommodate the high number of files and users in this region.
- The presence of market incumbents, such as IBM Corporation, HP Development Company, and Seagate Technology, in the storage segment, is another factor that is expected to promote the growth of the NAS market.
The network attached storage market is fragmented. Earlier, the big players dominated the NAS market. However, the growing demand from enterprises for data storage is also attracting many new players into the market making the market competitive.
- February 2019 - The HPE launched HPE Edgeline EL8000 Converged Edge System, that enables data-intensive, low-latency telecommunications services, based on open standards and advanced remote manageability.
- January 2018 - QNAP System Inc., initiated a partnership with Netgate, the world's leading provider of open-source firewalls and security gateways, and showcased a joint solution by implementing pfSense software on QNAP NAS, to create a new security and networking deployment, at CES 2018.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Explosion of Unstructured Data
4.2.2 Increase in the Footprint of Scale-out in Enterprise IT
4.2.3 Focus on Data Center Virtualization and Software Defined NAS
4.3 Market Restraints
4.3.1 Increasing Adoption of Cloud
4.3.2 Cost Ineffectiveness with High Data Growth
4.4 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.2 By End-user Industry
5.2.2 IT and Telecom
5.2.5 Media and Entertainment
5.2.6 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ZyXEL Communications Corporation
6.1.2 Thecus Technology Corporation
6.1.3 Drobo Inc.
6.1.4 Asustor Inc.
6.1.5 Dell EMC
6.1.6 Buffalo Technology Inc.
6.1.7 Hewlett-Packard Development Company
6.1.8 Hitachi Data Systems Corporation
6.1.9 NetApp Inc.
6.1.10 International Business Machines (IBM) Corporation
6.1.11 Netgear Inc.
6.1.12 Seagate Technology PLC
6.1.13 Synology Inc.
6.1.14 QNAP Systems Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/n0pzsx