DUBLIN--(BUSINESS WIRE)--The "Network Attached Storage (NAS) Market with COVID-19 Impact Analysis, by Design (8 bays to 12 bays, More than 20 bays), Product (Enterprise, Midmarket), Storage Solution (Scale-up, Scale-out), Deployment Type, End-user Industry, & Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global NAS market was valued at USD 21.1 billion in 2019 and is projected to reach USD 48.0 billion by 2025; it is expected to grow at a CAGR of 15.7% from 2020 to 2025.
The market for NAS solutions with more than 20 bays is expected to grow at highest CAGR during forecast period
The market for NAS solutions with more than 20 bays is projected to grow at the highest CAGR during the forecast period. These NAS systems have features such as high storage capacity, high performance, fast response, and data recovery; hence, these solutions are deployed in big industries, such as BFSI, manufacturing, large enterprises, and telecommunications and ITES where the data volumes are high and increasing on a regular basis.
The midmarket NAS solutions held larger market share in 2019
Midmarket NAS solutions held a larger market share in 2019, and a similar trend is likely to be observed in the near future. The increased use of smart devices such as smartphones and tablets led to the rise of digital media. Consumers use NAS systems for home surveillance solutions, backup systems, and media streaming devices. Moreover, midmarket NAS solutions are ideal and inexpensive solutions for small- and mid-sized businesses.
NAS market for scale-out NAS solutions is expected to grow at higher CAGR during forecast period
The market for scale-out NAS solutions is projected to grow at a higher CAGR during the forecast period. Scale-out is an improved technique used in NAS devices, enabling the expansion of the capacity based on the requirement of end-use applications. These are deployed in industries such as BFSI, healthcare, and government, wherein a large volume of data is generated and data security is of utmost importance.
North America held the largest share of NAS market in 2019
In 2019, North America accounted for the largest share of the NAS market. The growth of the NAS market in North America can be attributed to the fact that the region is home to leading producers such as Dell Technologies Inc., NetApp, Inc., and HEWLETT PACKARD ENTERPRISE COMPANY (HPE), as well as major consumers such as Syracuse University, UNICOM Global, Tufts University, and Linn Benton Lincoln of NAS solutions.
Market Dynamics
Drivers
- Government Focus on Digitization Leading to Massive Growth in Digital Data
- Increased Use of Smartphones, Laptops, and Tablets Resulting in Generation of Large Volumes of Data
- Rapid Adoption of 4G and 5G Technologies Creating High-Volume Digital Content
Restraints
- Prime Concern of Data Security When Data is Stored at Remote Location
Opportunities
- Increasing Adoption of Hybrid Cloud Storage Raises Demand for Cutting-Edge NAS Solutions
- Growing Requirement for Real-Time Data Consistency Creates Demand for Scale-Out NAS Devices
- Covid-19-Driven Opportunities
- Rapid Spread of Covid-19 Pandemic Prompting Industries to Improve Their It Infrastructure
Challenges
- Lack of Proper Infrastructure to Secure and Leverage Data
- High Latency Observed During Connecting Storage Devices Hampers Overall Efficiency of NAS Devices
- Covid-19-Driven Challenges
- Anticipated Shortage of Skilled Workforce in NAS Manufacturing Facilities Due to Ban on Migration
Companies Profiled
- Dell Technologies Inc.
- Netapp, Inc.
- Hewlett Packard Enterprise Company (Hpe)
- Hitachi, Ltd.
- Western Digital Corporation
- Seagate Technology Public Limited Company (Plc)
- Netgear, Inc.
- Synology, Inc.
- Buffalo Americas, Inc.
- Qnap Systems Inc.
- Drobo, Inc.
- Asustor Inc.
- IBM
- Huawei Technologies Co. Ltd.
- Microsoft
- Cisco Systems, Inc.
- D-Link Corporation
- Thecus Technology Corp.
- Infortrend Technology Inc.
- Panasas
- Softnas, Inc.
- NASuni Corporation
For more information about this report visit https://www.researchandmarkets.com/r/y3ox9w
