Network Attached Storage NAS Market Report 2024 (Global Edition)

Global Network Attached Storage NAS Market Report 2024 Market Size Split by Design (1 Bay to 8 Bays, 8 Bays to 12 Bays, 12 Bays to 20 Bays, More than 20-bays), by Product Type (Enterprise NAS Solution...

Network Attached Storage NAS Market Report Description

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Network Attached Storage NAS Market Insights Video

Competitive Landscape of the Network Attached Storage NAS Market

The growing demand for efficient data storage solutions and increasing adoption of cloud-based NAS contribute to the competitive landscape. Additionally, emerging players like QNAP Systems and Asustor Inc. are gaining traction, intensifying competition within the dynamic NAS market.

• September 2021: Microsoft Corporation propounded the zone redundancy storage option for Microsoft Azure's managed disks, which helped improve the digital infrastructure and facilitated durable high-performance block storage for Azure Virtual Machines. It also offers four disk storage options: Premium SSD, Standard SSD, Ultra Disk Storage, and Standard HDD.

(Source:learn.microsoft.com/en-us/azure/virtual-machines/disks-redundancy)

Top Companies Market Share in Network Attached Storage NAS Industry: (In no particular order of Rank)

• Dell Technologies Inc.(USA)
• Western Digital Corporation (USA)
• Synology Inc. (Taiwan)
• QNAP Systems Inc. (Taiwan)
• NetApp Inc. (USA)
• Hewlett Packard Enterprise Company (HPE) (USA)
• Hitachi Ltd. (Japan)
• Seagate Technology Public Limited Company (PLC) (USA)
• NETGEAR Inc. (USA)
• Buffalo Americas Inc. (USA)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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North America dominated the market in 2023. It accounted for around 40% of the global revenue

According to Cognitive Market Research, North America dominated the market in 2023. It accounted for around 40% of the global revenue, owing to technological advancements, widespread adoption of cloud services, and the presence of key market players. The region's robust infrastructure and increasing demand for data storage solutions in enterprises contribute to NAS market growth. The United States, in particular, plays a pivotal role, witnessing a surge in data generation across various industries. Additionally, the bolstering trend of remote work and the need for efficient data management fuel the demand for NAS solutions in North America. As a result, the region continues to be a key revenue generator and a significant player in the global NAS market.

Europe is the fastest-growing category due to the region's increasing data storage needs and the adoption of advanced technologies. Countries like Germany, the UK, and France lead the region in NAS deployment. The rise of cloud-based storage solutions and the growing demand for efficient data management systems contribute to the market's expansion. Additionally, the region's emphasis on data security and compliance further fuels NAS adoption. Key players in Europe are pivotal in driving innovation and market competitiveness. Europe's NAS market reflects a dynamic landscape shaped by evolving technological trends and the region's commitment to data integrity and accessibility.

The current report Scope analyzes Network Attached Storage NAS Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Network Attached Storage NAS Market

According to Cognitive Market Research, North America held the major market share in 2023. It accounted for more than 38% and a CAGR of 11.0% of the global revenue due to the increasing demand for scalable and efficient data storage solutions and rising cloud adoption. The need for secure data access and management further accelerates market expansion. As businesses prioritize data-driven strategies, NAS emerges as a key driver, offering seamless storage solutions for diverse North American and global applications. The region's NAS market is characterized by diverse segments, reflecting the increasing demand for scalable and efficient data storage solutions. Technological advancements, rising data volumes, and the need for seamless data access contribute to the market's expansion. Companies focus on innovative NAS solutions in this dynamic landscape to address specific segment requirements, driving further market evolution and competitiveness.

Europe Network Attached Storage NAS Market

According to Cognitive Market Research, the European Network Attached Storage (NAS) market accounted for approximately 30% and a CAGR of 11.5% of the global revenue due to the escalating data volumes and the need for efficient data management solutions. The growing adoption of cloud-based services, remote work trends, and increasing digital content creation contribute to the market's expansion. NAS devices provide centralized storage, data accessibility, and backup solutions, addressing the demand for secure and scalable storage options. This surge in data-centric requirements fuels the growth of the NAS market, especially in Europe, where businesses prioritize advanced storage solutions for streamlined operations and data security. Businesses are adopting NAS solutions for efficient data management, secure storage, and seamless accessibility. The market is segmented based on storage capacity, end-users, and applications. Increasing digitalization, cloud integration, and the need for scalable storage solutions are key contributors to the expanding NAS market, with Europe playing a significant role in shaping its trajectory. 

Asia Pacific Network Attached Storage NAS Market

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 22% and a CAGR of 13.8% of the global revenue due to the region's growing demand for efficient data management, rising adoption of cloud-based services, and the proliferation of IoT devices are key factors fueling market expansion. The Asia-Pacific region, particularly, is witnessing a surge in NAS deployment due to rapid technological advancements and the growing need for scalable and secure storage solutions, contributing significantly to the overall market momentum. The NAS market in this region is characterized by increased demand for scalable and efficient data storage solutions. Key growth segments include enterprises, small and medium-sized businesses, and home users. Factors such as rising data volumes, cloud integration, and the need for seamless data access contribute to the market's expansion, making NAS a critical component in the evolving digital landscape.

South America Network Attached Storage NAS Market

According to Cognitive Market Research, Latin America accounted for more than 5% and a CAGR of 12.2% of the global Network Attached Storage (NAS) revenue in 2023 due to the escalating demand for efficient data storage solutions amid the burgeoning digital landscape. The proliferation of data-intensive applications, cloud computing, and the need for seamless data access contribute to market growth. Businesses in Latin America are increasingly adopting NAS solutions to enhance storage capabilities, ensure data security, and facilitate remote access. This surge is further fueled by the region's expanding IT infrastructure and the growing recognition of NAS as a cost-effective and scalable storage solution. NAS offers scalable and accessible storage for businesses and individuals. Key segments include home NAS, business NAS, and enterprise NAS, each addressing specific storage needs. This dynamic market reflects a growing reliance on NAS solutions to manage and safeguard data across diverse sectors in the region.

Middle East and Africa Network Attached Storage NAS Market

According to Cognitive Market Research, the Middle East and Africa accounted for more than 3.00% and a CAGR of 12.5% of the global revenue in 2023 due to escalating demand for efficient data storage solutions. It is the exponential growth of digital data, compelling businesses to adopt NAS for secure and scalable storage. This surge is further fueled by the increasing prevalence of remote work, driving the need for accessible and collaborative data management solutions. As organizations prioritize data security and accessibility, the NAS market is poised for sustained expansion in the Middle East and Africa. Key segments include enterprises, SMEs, and individual consumers, with a rising emphasis on scalable and efficient storage solutions. Factors such as the proliferation of data-intensive applications and the need for secure and accessible data management contribute to the market's expansion. In particular, the Middle East and Africa region show a growing adoption of NAS solutions to meet evolving storage requirements.

Network Attached Storage NAS Market Analysis

Network Attached Storage NAS Design Segment Analysis

According to Cognitive Market Research, one bay to 8 bays held the major market share over the forecast period. It caters to small to medium-sized businesses and individual users. NAS devices with 1 to 8 bays suit home offices and small-scale storage needs. They offer cost-effective solutions for users who require efficient data management without the complexity of larger setups.

Eight bays to 12 bays is the fastest-growing category over the forecast period. It is ideal for businesses with growing data requirements requiring a more robust and scalable storage solution. These NAS devices offer increased RAID configurations and flexibility to accommodate diverse storage needs.

• 1 Bay to 8 Bays
• 8 Bays to 12 Bays
• 12 Bays to 20 Bays
• More than 20-bays

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Network Attached Storage NAS Industry. Request a Free Sample PDF!

Network Attached Storage NAS Product Type Segment Analysis

According to Cognitive Market Research, enterprise NAS solutions hold a prominent market share. They are tailored for large-scale organizations with extensive data storage needs. These solutions offer robust features such as high storage capacity, scalability, and advanced security protocols to meet the demands of enterprise-level data management.

Midmarket NAS solution is the fastest-growing category over the forecast period. It caters to medium-sized businesses, providing a balance between performance and affordability. These solutions typically offer sufficient storage capacity and features suitable for organizations with moderate data requirements

• Enterprise NAS Solutions
• Midmarket NAS Solutions

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Network Attached Storage NAS Storage Solution Segment Analysis

According to Cognitive Market Research, scale-up NAS holds a prominent market share. It involves adding more storage capacity to a single unit, allowing for vertical expansion by increasing the capacity of a single storage node. This approach is suitable for organizations with growing but predictable storage needs.

Scale-out NAS is the fastest-growing category over the forecast period. It focuses on horizontal expansion by connecting multiple NAS nodes and distributing data across them for improved performance and scalability. This solution is ideal for enterprises with dynamic and unpredictable data growth. Scale-out NAS offers flexibility and agility, accommodating changing storage demands more efficiently.

• Scale-up NAS
• Scale-out NAS

Network Attached Storage NAS Deployment Type Segment Analysis

According to Cognitive Market Research, on-premises hold a prominent market share. It involves the storage infrastructure physically located within the organization's premises, providing high control and security. This deployment type is favored by enterprises seeking to manage sensitive data internally.

The remote is the fastest-growing category over the forecast period. It leverages cloud-based or off-site storage options, offering scalability, accessibility, and reduced infrastructure costs. The remote deployment caters to the evolving needs of businesses looking for flexible and collaborative storage solutions.

• On-premises
• Remote
• Hybrid

Network Attached Storage NAS End-User Segment Analysis

According to Cognitive Market Research, BFSI holds a prominent share. NAS solutions are crucial for managing and securing vast volumes of financial data. The robust data storage and retrieval capabilities of NAS systems cater to the stringent security and compliance requirements of the BFSI industry, enhancing operational efficiency.

Consumer goods & retail is the fastest-growing category over the forecast period. This sector leverages NAS to streamline data access and storage, optimizing supply chain management, inventory tracking, and customer information storage. It facilitates seamless collaboration and ensures the availability of real-time data for informed decision-making.

• BFSI
• Consumer goods & retail
• Telecommunications and ITES
• Healthcare
• Energy
• Government
• Education and research
• Media and entertainment
• Manufacturing
• Business and consulting
• Others

Network Attached Storage NAS Component Segment Analysis

According to Cognitive Market Research, hardware holds a prominent market share. It encompasses the physical devices that make up the NAS system, including storage drives, processors, and memory. These components collectively determine the system's capacity, speed, and overall performance.

The software is the fastest-growing category over the forecast period. It refers to the programs and applications that manage data storage, access, and security within the NAS environment. NAS software ensures efficient data organization, user access controls, and data protection measures such as encryption and backup.

• Hardware
• Software

Author's Detail

David Fuller

Senior Analyst at Cognitive Market Research

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I am working as a Senior Analyst with Cognitive Market Research in the areas of Industry Survey and Market Research/Analytics. I collaborate with CXOs, VPs, and other senior executives to understand their data needs and provide solutions and business strategy building.

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