Consumer Network Attached Storage (NAS) Market Representing a CAGR of 11.5% Is Poised to Reach US$ 15.02 Bn by 2032

The demand for consumer network attached storage is growing as it facilitates easy storage and sharing of data across different devices.

NEW YORK CITY, NY, UNITED STATES, September 20, 2024 /EINPresswire.com/ -- The research study sheds light on the market’s competitive scenario by assessing the key market players, their product offerings, revenue, market share, and operating strategies.

The consumer network attached storage (NAS) market size was valued at USD 5.67 billion in 2023. The market is anticipated to grow to USD 15.02 billion by 2032, exhibiting a CAGR of 11.5% from 2024 to 2032.

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Market Overview:

Network attached storage (NAS) is a file-dedicated storage device that enables multiple users to store and share files over a network. NAS is also referred to as NAS box, NAS unit, NAS head, or NAS server. With NAS, data is continuously available, making it easy for employees to collaborate and respond to queries in a timely manner. Also, workers can easily follow up on sales and other issues as all the information is present in one place.

Consumer network attached storage is flexible and scale-out. As such, users can easily add additional storage as required. Also, it’s less expensive, faster, and provides all the benefits of a public cloud on-site. Besides, it provides easy data backup, making it always accessible whenever needed. The integration of NAS with the cloud facilitates data accessibility and backup, thereby propelling the consumer network attached storage (NAS) market forward.

Report Scope:

• Market Size Value in 2023: USD 5.67 Billion
• Revenue Forecast in 2032: USD 15.02 Billion
• CAGR: 11.5% from 2024–2032
• Historical Data: 2019–2022
• Forecast Period: 2024–2032
• Report Format: PDF + Excel

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Competitive Landscape:

ASUSTOR Inc.; Buffalo America Inc.; D-Link Corporation; Drobo Inc.; Netgear Inc.; QNAP Systems Inc.; Seagate Technology; StorCentric, and Synology Inc. are some of the consumer network attached storage (NAS) market key players. These players are implementing advanced technologies to expand their product offerings. Besides, they are undertaking a variety of strategic initiatives to improve their global presence.

Some of the latest developments in the market are:
• In May 2024, StarHub announced its partnership with Global Switch for the implementation of a Low Latency Data Centre Connect. The collaboration aligns with StarHub’s DARE+ initiative and will allow it to leverage the consumer network attached storage and operational ecosystem.

• In March 2024, Huawei introduced its OceanStor Pacific 9920 network-attached storage (NAS) array for Europe. The new array provides 92TB raw capacity in 2U of rack space.

Market Drivers and Opportunities:

• Increasing Need for Centralized Data Storage: As individuals and businesses generate large amounts of data, the demand for efficient and accessible storage systems has increased. Consumer network storage systems cater to this demand by allowing users to create their own cloud storage.

• Integration of AI Technology: The adoption of AI technology has led to continuous advancements in consumer network attached storage systems. With AI, companies can develop consumers can develop consumer NAS devices having enhanced data transfer speeds and expanded storage capacities.

• Rise of Remote Work: The global shift towards remote work has led to increased emphasis on efficient data sharing and collaboration. This, in turn, is driving the consumer network attached storage (NAS) market growth.

Regional Analysis

The research study offers market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is anticipated to dominate the market, owing to the presence of a thriving startup ecosystem in the region. In addition, an increase in the number of smart homes in North America has had a significant impact on the demand for these products.

Asia Pacific is projected to register the fastest CAGR from 2024 to 2032. The growing trend of digitalization fuels the region’s growth. Besides, the rising amounts of data generated across several sectors, including finance, retail, and healthcare, are having a favorable impact on the regional market demand.

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Market Segmentation:
By Design Outlook:
• 1-Bay
• 2-Bays
• 4-Bays
• 5-Bays
• 6-Bays
• Above 6-Bays

By Mount Type Outlook:
• Rackmount
• Standalone

By Deployment Outlook:
• Cloud/Remote
• Hybrid
• On-premise

By End User Outlook:
• Business
• Residential

By Regional Outlook:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of the Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

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The global consumer network attached storage (NAS) industry is expected to reach USD 15.02 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.5% during the forecast period (2024 - 2032).

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