Industrial, Manufacturing & Heavy Industry Market News

Network attached storage market estimated to show 18.46% CAGR during 2018 to 2023

Industrial Market Research

The global network attached storage market is expected to register a CAGR of 18.46% over the forecast period of 2018-2023.

The scope of the report considers products offered by the major players in the market.

This report focuses on the adoption of these solutions by various end users, within different regions across the globe. The study also emphasizes on the latest trends, industry activities, and vendor activities.

It is estimated that more than 80% of midmarket and enterprise organizations are using NAS, for some tier of storage in exceeding capacity, when compared to other storage types, such as DAS and SAN. The major factors driving the market include - explosion in unstructured data, increasing foot print of scale-out NAS in enterprise IT systems, and focus on network virtualization and software defined NAS.

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The increasing adoption of NAS systems in enterprise environments is driving vendors toward creating customized NAS solutions, for businesses aiming at NAS as a full-fledged data management solution. The integration of on-premise NAS with cloud storage is expected to gain traction in the future, facilitating total control over the data in the NAS and in backing up and archiving data in the cloud.

Several vendors are involved in integrating the existing NAS system with the popular cloud storage services, like Amazon S3 especially, for storage provisioning.

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. The current market trends, including 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.

High Adoption Rate of Low-end or Desktop NAS

Low-end or desktop NAS is designed for use by small businesses, branch offices of large enterprises, remote departmental offices, and home users requiring local shared storage. Video surveillance solutions requiring high capacity storage are significantly driving the market, as NAS facilitates media streaming (both viewing and playing content) without the need to download it.

A combination of low-priced SATA disks and increased storage requirements for small businesses are the major driving forces behind a price reduction of 500 GB to 1 TB NAS

Scale Computing and Reldata Inc. are two vendors targeting the low-end SME market with a unified scale-out solution, while most of the other vendors continue to go after large file, bandwidth-intensive applications.

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North America to Hold the Highest Market Share in 2018

Owing to its early adoption of advanced analytics solutions involving huge data storage requirements, North America holds the largest market share. 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 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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Key Developments in the Market

January 2018 - QNAP Systems Inc., initiated a partnership with Netgate, the world’s leading provider of open-source firewalls and security gateways, and showcased a joint solution by implementing pfSense software on QNAP NAS, to create new security and networking deployment, at CES 2018.

July 2017 - Synology UK Ltd announced a new partnership with Deltaco, a technology distributor in the Nordics. With this acquisition, Synology hopes to penetrate the channel and engage with new customers and new markets of the Nordics, for the NAS solutions.

Major Players: DELL INC., BUFFALO TECHNOLOGY INC., HEWLETT-PACKARD DEVELOPMENT COMPANY, HITACHI DATA SYSTEMS CORPORATION, NETAPP INC., INTERNATIONAL BUSINESS MACHINES (IBM) CORPORATION, NETGEAR INC., and SEAGATE TECHNOLOGY PLC, amongst others.

Reasons to have this Report

Understanding how the rising amount of unstructured data is driving the adoption of NAS solutions in the market.

Analyzing various perspectives of the market with the help of Porter’s five forces analysis.

The end-user vertical that is likely to witness the highest adoption of these tools.

The deployment type that is expected to dominate the market.

The countries that are expected to witness the fastest growth during the forecast period.

SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.

3 months analyst support along with the Market Estimate sheet (in excel).

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

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