Overview and Scope
Consumer network-attached storage refers to a type of storage device connected to a network and provides centralized storage accessible to multiple users and devices within a home or small office environment. These devices typically contain one or more hard drives configured in various RAID configurations for data redundancy and performance.
Sizing and Forecast
The consumer network attached storage market size has grown rapidly in recent years. It will grow from $15.54 billion in 2023 to $17.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increasing digital content, rise of multimedia streaming, and growth of smart home ecosystems.
The consumer network attached storage market size is expected to see rapid growth in the next few years. It will grow to $31.96 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to increasing demand for home media storage, expansion of smart home applications, hybrid cloud storage solutions, and energy efficiency and sustainability. Major trends in the forecast period include edge computing and IoT integration, cloud-native NAS solutions, subscription-based services, and hybrid cloud architectures.
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Segmentation & Regional Insights
The consumer network attached storage market covered in this report is segmented –
1) By Storage Type: Hard Disk Drive (HDD), Flash Storage, Hybrid
2) By Design: 1-Bay, 2-Bays, 4-Bays, 5-Bays, 6-Bays, Above 6-Bays
3) By Deployment: On-Premise, Cloud Or Remote, Hybrid
4) By End-User: Residential, Business
North America was the largest region in the consumer network attached storage market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer network attached storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of IoT devices is expected to propel the growth of consumer network-attached storage going forward. IoT devices refer to the network of physical objects embedded with sensors, software, and other technologies that enable them to connect and exchange data with other devices and systems over the internet. The increasing adoption of IoT devices is due to technological innovation, cost-effectiveness, and industry-specific applications. IoT devices integrated with consumer network-attached storage systems enable efficient storage, analysis, and security of IoT-generated data, enhancing overall consumer utility. For Instance, in March 2023, according to Sogeti, a France-based IT service management company, the global adoption of IoT devices reached 42.62 billion in 2022 and is expected to reach 75.44 billion by 2025. Therefore, the increasing adoption of IoT devices is driving the growth of the consumer network-attached storage market.
Key Industry Players
Major companies operating in the consumer network attached storage market are Apple Inc., Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Lenovo Group Limited, HP Inc. , Panasonic Corporation, Cisco Systems Inc., Toshiba Corporation, ASUSTeK Computer Inc. , Western Digital Corporation, Seagate Technology, Acer Inc., GIGABYTE Technology Co. Ltd., NETGEAR Inc., ZyXEL Communications Corp., QNAP Systems Inc., D-Link Corporation, Synology Inc., ASRock Inc., Silicon Power Computer & Communications Inc., Asustor Inc., Thecus Technology Corp., Buffalo Americas, Drobo Inc.
The consumer network attached storage market report table of contents includes:
1. Executive Summary
2. Consumer Network Attached Storage Market Characteristics
3. Consumer Network Attached Storage Market Trends And Strategies
4. Consumer Network Attached Storage Market – Macro Economic Scenario
5. Global Consumer Network Attached Storage Market Size and Growth
…..
32. Global Consumer Network Attached Storage Market Competitive Benchmarking
33. Global Consumer Network Attached Storage Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Consumer Network Attached Storage Market
35. Consumer Network Attached Storage Market Future Outlook and Potential Analysis
36. Appendix
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