Europe Network Attached Storage Market is set to grow at a significant rate during the forecast period. The significant market coverage can be attributed to the widespread adoption of the storage technology by SMEs in the region, consistently expanding the data center infrastructure, and increasing the emphasis by key market players on extending their presence in the European market.
North America, being a major technological hub stands poised to hold significant share in the global network attached storage market. 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 United States network attached storage market size is forecast to record a y-o-y growth rate of 20% over 2018-2024.
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Elaborating further on the geographical landscape, Europe size is projected to procure second largest share in the network attached storage market. The growth is mainly attributed to the rapid adoption of this technology by the SMEs in tandem with the massively growing data center developments in the region. Add to it, the continent, over the recent years, has been one of the top-notch spots for the network attached storage market players adopting regional expansion as their chief growth strategy.
Network attached storage market growth is attributed to the growing adoption of cloud-based storage solutions by SMEs, increase in big data analytics & data mining applications, and ease-of-installation & automatic data backup capabilities. Increasing volume of social media content and rapid proliferation of high-speed data transfer technologies are also expected to largely assist the market growth during the forecast timelin
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.
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The competition in the network attached storage market is primarily characterized by the consistent product development and innovation initiatives by the companies to strengthen their NAS product portfolio and diversify it with solutions specifically meant for different target market segments such as home/consumer, SMBs, and enterprise customers. Consumer applications of the storage technology are growing rapidly due to the vast amount of data being generated by social networking platforms, digital entertainment platforms, and smart home automation & surveillance systems.
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.
Table Of Content For This Research Report:
Chapter 5. NAS Market, By Architecture
5.1. NAS market trends by architecture
5.2.1. Traditional architecture market estimates and forecast, by region, 2013-2024
5.3.1. Scale-out architecture market estimates and forecast, by region, 2013-2024
Chapter 6. NAS market, By Design
6.1. NAS market 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
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