Network Attached Storage Market in Consumer/Home Application is Expected to Grow At A CAGR of 22% by 2024

The consumer or home Network Attached Storage Market is estimated to grow at a CAGR of over 22% during the forecast timeline due to the rise in adoption of NAS solutions for back-up, data transfer, and recovery functions by consumers. The home NAS system offers a cost-effective mechanism to retrieve important content from mobile devices and household automation systems.

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The commercialization of global network attached storage market has indeed taken up a remarkable pace in the recent years, courtesy – the increasing number of enterprises diving into big data analytics & data mining. The rapid adoption of NAS solutions in home and consumer applications to offer storage that can be accessed by multiple devices have provided significant impetus to the growth statistics of network attached storage industry share. With NAS gaining considerable traction across SMEs and other businesses incorporating cloud-based network, analysts speculate the network attached storage architectural layout to witness a revolution of sorts in the coming years.

Toshiba, for instance, has recently launched its next-generation 3.5″ NAS N300 HDD and 2.5″ L200 HDD that can be now used in laptops as well. The technology, as claimed by Toshiba works perfectly with any network attached storage devices that are used for personal, home office or small businesses. The NAS device has been designed to support around eight drive bays in a multi-RAID NAS and features rotational vibration sensors that automatically detect & compensate for transient vibrations, thereby delivering prompt performance in multi-bay storage enclosures.

The on-premise deployment model dominated the Network Attached Storage Market in 2017 due to huge deployment of scale-up network storage systems for storage and recovery & backup. With the growing use of cloud-based platforms for measurable data storage applications, the cloud Network Attached Storage Market is estimated to grow at a CAGR of more than 20%. On the other hand, the hybrid platform market is expected to witness the fastest growth over the forecast timeline as it provides the convenience of storing critical business data on-premise while other business-relevant data is stored using the cloud-based NAS in a scalable architecture.

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North America, being a major technological hub stands poised to hold significant share in the global NAS industry. The region moreover retains the presence of large scale enterprises that have adopted the cloud platforms and big data analytics – a factor further expected to garner high demand for NAS solutions in the coming years. The rapid adoption of consumer and home network attached storage systems in U.S. and Canada across various end-use sectors such as the BFSI and IT & Telecom market have significantly driven North America network attached storage industry share. The United States NAS industry share is forecast to record a y-o-y growth rate of 20% over 2018-2024.

All in all, endorsed with a rich competitive and application gamut comprising BFSI, IT & Telecom, healthcare, retail, consumer electronics, etc., the global network attached storage market is certain to become one of the most remunerative business spheres for potential stakeholders. In terms of commercialization, Global Market Insights, Inc., projects network attached storage industry size to surpass USD 20 billion by 2024.

Some Points From Table Of Content: –

Chapter 6. Network Attached Storage Market, By Design

6.1. Network Attached Storage Industry trends by design

6.2. 1-bay to 8-bay

6.2.1. 1-bay to 8-bay market estimates and forecast, by region, 2013-2024

6.3. 8-bay to 12-bay

6.3.1. 8-bay to 12-bay market estimates and forecast, by region, 2013-2024

6.4. 12-bay to 20-bay

6.4.1. 12-bay to 20-bay market estimates and forecast, by region, 2013-2024

6.5. Above 20-bay

6.5.1. Above 20-bay market estimates and forecast, by region, 2013-2024

Chapter 7. Network Attached Storage Market, By Deployment Model

7.1. Network Attached Storage Market trends by deployment model

7.2. On-premise

7.2.1. On-premise NAS deployment market estimates and forecast, by region, 2013-2024

7.3. Cloud

7.3.1. Cloud-based NAS deployment market estimates and forecast, by region, 2013-2024

7.4. Hybrid

7.4.1. Hybrid NAS deployment market estimates and forecast, by region, 2013-2024

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