Market Trends of Network Attached Storage (NAS) Industry
Increasing Adoption of Cloud Hindering the Growth of the Market
- The deployment of these solutions over the cloud offers greater convenience, as the service vendor is responsible for providing maximum uptime, data security, and periodic updates, thus decreasing the total cost of ownership.
- These network-attached storage devices have been providing a convenient means of offloading and creating data backups from the computers while maintaining remote access to the files. These units are storing information in a centralized location and providing access for authorized on-site and network access using secure dedicated IP addresses. These devices offer various features that are handy and versatile to meet the needs of home users and small and large businesses.
- The current market trends, including the delivery of these solutions on the pay-as-you-go model and SaaS models, wherein the service vendors also assume the responsibility of maintaining data and application information, are further driving the adoption of these solutions.
- Moreover, this mode has recorded an increase in deployment in small-/medium-scale businesses, as it cuts down the capital expenditure involved in building the required infrastructure on their premises. This continuing trend is significantly hindering the growth of the market.
- In Jan 2020, QNAP also announced its new budget-friendly two-bay NAS aimed at home users supporting hardware accelerated media playback. The TS-251D stores up to 32 TB of data and can be further expanded with a PCIe card to add SSD caching or other options.
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North America to Hold Highest Share in the Market
- North America holds the largest market share due to its early adoption of advanced analytics solutions involving huge data storage requirements. They make use of Network-attached storage when it is attached to a network with the help of ethernet ports or USB. These are allocated to an IP address so that the end-user can directly access it.
- The United States is projected to hold the highest share within the region. The United States accounts for 30% of the global market share in digital transformation led by the professional services, discrete manufacturing, and transportation industries.
- The usage of digital solutions in these sectors has resulted in the generation of significant amounts of unstructured data, because of which companies are deploying more NAS systems to accommodate the high number of files and users in this region.
- The NAS systems are being adopted rapidly due to the increasing development of hybrid cloud storage. It is resulting in an increase in the demand for redundancy, data back-up, manageability, superior data scalability. The increasing use of smart devices like laptops and smartphones is creating a massive volume of data, expanding the market demand and growth.
- The presence of market incumbents, such as IBM Corporation, HP Development Company, and Seagate Technology, in the storage segment is another factor that is expected to promote the growth of the NAS market.
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