A recent report published by
Infinium Global Research on network attached storage market provides in-depth
analysis of segments and sub-segments in the global as well as regional network
attached storage market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional network attached
storage market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
network attached storage market. According to the report, the global network
attached storage market is projected to grow at a CAGR of 19.62% over the
forecast period of 2020-2026.
Network-attached storage (NAS)
allows multiple users and their devices to retrieve data from centralized
storage capacity. With NAS, users on a local area network (LAN) access the
shared storage through a standard Ethernet connection. NAS devices usually are
configured and managed with a browser-based utility rather than a keyboard or
mouse. Each NAS on the LAN exists as an independent network node, defined by
its own unique Internet Protocol (IP) address. The most striking
characteristics of NAS is the ease of access, high capacity, and fairly low
cost. It provides a platform to consolidate storage in one place and to support
tasks, such as archiving and backup, and a cloud tier. NAS majorly deals with
unstructured data such as audio, video, websites, text files, and Microsoft
Office documents. Organizations normally install a NAS system as the foundation
for a personal or private cloud.
The increasing promotion of
digitization across various sectors by governments is majorly driving the
growth of the NAS market. Governments are using digital tools to improve their
interactions with citizens and businesses. Moreover, the growing amount of data
generated due to the high penetration of the internet and smartphones is
expected to support the market growth of the NAS market. Growing
telecommunication infrastructure coupled with cheaper prices of technology is
augmenting the penetration of the internet and smartphones. However, the
growing concerns among consumers over data security are majorly hampering the market growth. Unauthenticated access of the NAS system allows attackers to
access any data on the device, delete information, lockout other users, and
hijack the device for use. On the other hand, the growing adoption of hybrid
cloud storage solutions is anticipated to provide growth opportunities for the
market.
In terms of geography, the North
American region generated the highest revenue in the global network-attached
storage market. The early adoption of technically advanced solutions by several
end-use industries in North America is majorly driving the market. Moreover,
the presence of major key players operating in network-attached storage such as
Dell EMC, Cisco Systems Inc., and Google, Box Inc. in North America is further
propelling the market in the region. On the other hand, the Asia Pacific
network attached storage market is expected to grow at the highest CAGR over
the forecast period. The rise in the inclination of consumers toward advanced
technological products is likely to boost the network-attached storage market
in this region in the near future. Furthermore, the government of countries
such as India, China, South Korea, and Japan is taking initiatives for
digitizing the administrative process, which drives the demand for
network-attached storage.
The report on the global network
attached storage market covers segments such as deployment, storage type, and
end user. On the basis of deployment, the sub-markets include cloud, and
on-premises. On the basis of storage type, the sub-markets include scale-out NAS,
and scale-up NAS. On the basis of end user, the sub-markets include BFSI, IT and
telecom, healthcare, retail, media and entertainment, and other end-user
industries.
The report provides profiles of
the companies in the market such as Drobo Inc., NetApp, Hewlett Packard
Enterprise Co., Hitachi, Ltd, Dell Technologies Inc., IBM Corporation, Cisco
Systems, Inc., Microsoft Corporation, Western Digital Corporation, and Alphabet
Inc.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of network attached storage market. Moreover, the study highlights
current market trends and provides forecasts from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.