Asia Pacific Network Attached Storage Market is growing faster due to the rising awareness about the advantages of NAS solutions.
Sellbyville, United States - July 19, 2019 /MarketersMedia/ —
According to Global Market Insights, Network Attached Storage Market size is estimated to be over USD 21 billion by 2024 growing at a CAGR of over 20% during the forecast period. NAS is a system connected data storage platform offering data access to various customers online on the network. It is the next generation platform consisting of several storage devices of traditional servers that facilitate file sharing and storage.
The rapidly growing applications of data mining & analytics, adoption of NAS solutions for consumer applications, and the use of cloud-based solutions are driving the network attached storage market growth. Organizations are creating and storing huge volumes of data in the storage systems due to their scalability and accessibility. NAS solutions offer a comprehensive and secure storage mechanism to store and retrieve data associated with various business operations within a network.
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The traditional architecture, also known as scale-up architecture segment, held around 72% share of the network attached storage market in 2017. The strong foothold of scale-up architecture in the market is due to the rise in the implementation of traditional storage systems among organizations. The scale-out architecture is estimated to witness a faster CAGR of over 30% during the forecast timeline.
Based on the design, the 12-bay to 20-bay network attached storage market segment accounted for more than 40% share in 2017 due to the increasing use of medium configuration by SME and Small Office/Home Office (SOHO) customers. 12 to 20-bay NAS are suitable for SMEs as they offer performance-oriented, fast, and secure storage. Whereas, 1-bay to 8-bay NAS system market is anticipated to grow swiftly over the period.
The on-premise deployment model dominated the network attached storage market in 2017 due to huge deployment of scale-up network storage systems for storage and recovery & backup. With the growing use of cloud-based platforms for measurable data storage applications, the cloud NAS market is estimated to grow at a CAGR of more than 20%. On the other hand, the hybrid platform market is expected to witness the fastest growth over the forecast timeline as it provides the convenience of storing critical business data on-premise while other business-relevant data is stored using the cloud-based NAS in a scalable architecture.
The consumer or home network attached storage market is estimated to grow at a CAGR of over 22% during the forecast timeline due to the rise in adoption of NAS solutions for back-up, data transfer, and recovery functions by consumers. The home NAS system offers a cost-effective mechanism to retrieve important content from mobile devices and household automation systems.
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Financial institutions have widely adopted NAS systems generating the market revenue of USD 1.5 billion in 2017 and the segment is anticipated to maintain a major share of network attached storage market by 2024. The market revenue is growing due to the increase in the adoption of storage technologies by banking services and institutions to store large volumes of their customers’ financial data.
North America dominated the global network attached storage market in the year 2017 with nearly 50% market share. It is projected that it will lead the market throughout the forecast period due to the early implementation of advanced NAS technologies by industries with exponentially increasing digitalization across various industries. The e-commerce ecosystem is booming in the U.S. and fostering the demand for advanced storage solutions. The Asia Pacific NAS market is growing faster due to the rising awareness about the advantages of NAS solutions, government initiatives for storage solutions in administrative storage functions, and the growth of digitization in developing economies in the region.
Some of the leading network attached storage market players are DELL, Hitachi, Cisco, Western Digital, Infortrend, Seagate, Avere Systems, QNAP, Thecus, SoftNas, Pansas, Synology, Netgear, Buffalo Americas, NetApp, Zyxel, D-Link, Asustor, and Broadberry.
Browse key industry insights spread across 250 pages with 300 market data tables & 25 figures & charts from the report, “Network Attached Storage Market Size By Architecture, By Design, By Deployment Model (On-premise, Cloud, Hybrid), By Application, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Taiwan, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/network-attached-storage-nas-market
Table of Contents (ToC) of the report:
Chapter 5. Network Attached Storage Market, By Architecture
5.1. NAS market trends by architecture
5.2. Traditional
5.2.1. Traditional architecture market estimates and forecast, by region, 2013-2024
5.3. Scale-out
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
Chapter 7. NAS market, By Deployment Model
7.1. NAS market trends by deployment model
7.2. On-premise
7.2.1. On-premise NAS deployment market estimates and forecast, by region, 2013-2024
7.3. Cloud
7.3.1. Cloud-based NAS deployment market estimates and forecast, by region, 2013-2024
7.4. Hybrid
7.4.1. Hybrid NAS deployment market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/network-attached-storage-nas-market
About Global Market Insights
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