Network Attached Storage Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

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Overview and Scope
Network-attached storage refers to a file storage device connected to a network and allows retrieval and storage of data for authorized multiple network users in a central location. Network-attached storage supports business analytics, data logging, and accounting databases.

Sizing and Forecast
The network attached storage market size has grown rapidly in recent years. It will grow from $33.97 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to business continuity planning, cloud integration and hybrid solutions, expansion of home and personal use, security and compliance needs, media and entertainment industry demand..

The network attached storage market size is expected to see rapid growth in the next few years. It will grow to $76.04 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to data proliferation and big data, remote work and collaboration, security and data protection, rise in media and entertainment consumption, small and medium enterprises (smes) adoption.. Major trends in the forecast period include disaster recovery and backup solutions, sme and home usage, media and entertainment industry demands, ai and analytics workloads, edge computing integration..

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The network attached storage market covered in this report is segmented –

1) By Product Type: High-End Or Enterprise, Midmarket, Low-End
2) By Storage Solution: Scale-Out, Scale-Up, Other Solutions
3) By Deployment Model: On-Premise, Cloud, Hybrid
4) By Application: Home Or Consumer, Business
5) By End User: BFSI, Healthcare, Retail And E-Commerce, IT And Telecom, Automotive, Other End-Users

North America was the largest region in the network attached storage market in 2023. The regions covered in the 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 growing use of 5G technology is expected to propel the network-attached storage market. Fifth-generation wireless (5G) is the most recent iteration of cellular technology, designed to improve wireless networks’ speed and responsiveness significantly. The increasing use of 5g has led to immense data generation. The generated data is handled and stored by network-attached storage, increasing demand. For instance, in 2022, according to a report by Global Wireless Solutions, a US-based telecommunication company, the number of customers who used 5G networks increased from just 43% in 2021 to 61% in 2022 in the US. This indicates that 42% more users used 5G networks in 2022 than in 2021, a considerable increase compared to the 7% increase in 5G access the previous year in the single digits (2020-2021). Therefore, the rising data generation is driving the network-attached storage market.

Key Industry Players
Major companies operating in the network-attached storage market are focusing development of powerful components, such as dual-port expansion cards, to sustain their position in the market. A dual-port expansion card refers to a hardware component that can be added to a computer system to provide additional functionality or connectivity. For instance, in August 2022, QNAP Systems, Inc., a Taiwan-based company that specializes in providing network-attached storage (NAS), network video recorder (NVR) solutions, and other network-based computing and storage products, launched the QXG-100G2SF-CX6, a powerful dual-port 100GbE PCIe 4.0 expansion card. This card, equipped with an NVIDIA Mellanox ConnectX-6 Dx controller, is designed to be installed in QNAP all-flash NAS or Windows/Linux workstations or servers, offering an impressive total throughput of up to 200 GB/s. The QXG-100G2SF-CX6 is tailored to address performance bottlenecks with exceptionally low latency, making it ideal for bandwidth-intensive tasks in data centers, virtualization, multimedia streaming, and crucial backup and restore operations. In simpler terms, it’s a high-speed, efficient solution for supercharging network capabilities in demanding computing environments.

The network attached storage market report table of contents includes:

1. Executive Summary

2. Network Attached Storage Market Characteristics

3. Network Attached Storage Market Trends And Strategies

4. Network Attached Storage Market – Macro Economic Scenario

5. Global Network Attached Storage Market Size and Growth
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31. Global Network Attached Storage Market Competitive Benchmarking

32. Global Network Attached Storage Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Network Attached Storage Market

34. Network Attached Storage Market Future Outlook and Potential Analysis

35. Appendix

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