Consumer Network Attached Storage (NAS) Market Report 2024-2032
Consumer Network Attached Storage (NAS) Market Report 2024-2032

Consumer Network Attached Storage (NAS) Market Share, Size, Trends, Industry Analysis Report, By Design (1-Bay, 2-Bays, 4-Bays, 5-Bays, 6-Bays, above 6-Bays); By Mount Type; By Deployment; By End-user; By Region; Segment Forecast, 2024 - 2032

  • Published Date:Feb-2024
  • Pages: 116
  • Format: PDF
  • Report ID: PM1090
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global consumer network attached storage (NAS) market was valued at USD 5.67 Billion in 2023 and is expected to grow at a CAGR of 11.5% during the forecast period.

Network Attached Storage (NAS) is a device that stores and manages files centrally, allowing multiple users to share data over a network. NAS (Network Attached Storage) is a storage solution that operates as an independent network with its IP address. Unlike traditional storage solutions, which are attached to a single computer, NAS allows users to access and share files, documents, multimedia, and other data from various devices such as computers, smartphones, and tablets. This makes it easier to store and share data across different devices. NAS devices typically consist of one or more hard drives arranged in configurations like RAID (Redundant Array of Independent Disks) for performance improvement.

Consumer Network Attached Storage (NAS) Market Size

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The integration of NAS with cloud services has gained prominence, enabling businesses to leverage the benefits of both on-premises and cloud storage. This hybrid approach facilitates data accessibility, backup, and collaboration, fostering the growth of consumer network attached storage (NAS) market. Also, the global shift towards remote work has emphasized the importance of efficient data sharing and collaboration. NAS devices play a crucial role in enabling access to shared files and enhancing collaboration among distributed teams.

Despite all these benefits, as the volume of stored data increases, the risk of data breaches and unauthorized access also grows. Security concerns, including data encryption, access controls, and network vulnerabilities, pose challenges for the widespread adoption of NAS solutions, especially in industries that handle sensitive information. Also, the initial investment required for implementing NAS infrastructure is relatively high. This acts as a barrier for SMEs with low budgets, impeding their adoption of NAS solutions.

Growth Drivers

  • The increasing need for centralized data storage fuels the market growth.

The increasing need for centralized data storage has become a driving force behind the growth of the market. Since individuals and businesses generate and accumulate large amounts of data, the demand for efficient and accessible storage solutions has surged. Centralized data storage offers users a convenient and organized way to manage their data, providing a single, accessible location for storing and retrieving information. Consumer NAS systems serve this demand by offering users the ability to create their private cloud storage, facilitating seamless access to files and media from multiple devices within a network. This not only enhances data management but also contributes to improved collaboration and sharing capabilities.

Along with this, the growing dependence on data-intensive applications, multimedia content, and the increasing adoption of smart devices further creates the need for robust and scalable centralized storage solutions. As a result, there is an increasing demand for network-attached storage systems.

Report Segmentation

The market is primarily segmented based on design, mount type, deployment, end-user, and region.

By Design

By Mount Type

By Deployment

By End-user

By Region

  • 1-Bay
  • 2-Bays
  • 4-Bays
  • 5-Bays
  • 6-Bays
  • Above 6-Bays
  • Rackmount
  • Standalone
  • Cloud/Remote
  • Hybrid
  • On-premise
  • Business
  • Residential
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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By Design Analysis

  • The 4-Bays segment held the largest market share in 2023

In 2023, the 4-Bays segment emerged as the dominant segment in the market because the 4-Bays configuration offers consumers a balanced and scalable storage solution, striking an optimal balance between capacity and availability. This configuration allows users to expand their storage capacity, meeting their evolving needs.

Also, the 4-Bays NAS systems are often designed with user-friendly interfaces and enhanced data management features, serving a broad spectrum of consumers, from tech enthusiasts to small businesses. The increase in multimedia content and the increasing demand for data-intensive applications further fueled the segment's success, as it provides an efficient platform for storing and accessing large volumes of data.

By Mount Type Analysis

  • The standalone segment dominated the market in 2023

The standalone segment dominated the market in 2023, accounting for a significant share of the total market revenue due to the growing demand for personal cloud storage solutions, which allow users to store and manage their data independently without depending on third-party cloud services. Standalone NAS devices offer several advantages, including greater control over data privacy and security, faster data transfer speeds, and better compatibility with diverse operating systems and devices.

Along with this, standalone NAS devices are designed to serve specific user requirements, such as media streaming, backup, and file sharing. They come equipped with advanced features like RAID (Redundant Array of Independent Disks) configurations, hot-swappable drives, and multimedia transcoding capabilities, making them ideal for households with multiple users and devices. Also, standalone NAS devices are generally easier to set up and manage compared to network-attached storage devices that require technical expertise and IT infrastructure.

Regional Insights

  • North America held the largest revenue share in 2023

North America was the leading market in 2023 due to the thriving startup ecosystem in the region. North America is a hub for technology startups, fostering a vibrant ecosystem that attracts entrepreneurs, venture capital investments, and technological innovation. The presence of numerous startups in North America has created a substantial demand for storage solutions, such as NAS devices. Additionally, the increasing number of smart homes in North America has had a positive impact on the demand for such productsThe Asia Pacific region is expected to experience substantial growth in the market during the forecast period due to the growing trend of digitalization and the increasing amount of data being generated in various industries, such as healthcare, finance, and retail, which are driving the demand for advanced storage solutions. NAS systems offer a centralized and scalable storage solution that can efficiently store and manage large amounts of data, making them an attractive option for businesses in this region. Also, the rising adoption of cloud computing and virtualization technologies in the Asia Pacific region has increased the need for robust storage solutions that can support these environments.

Key Market Players & Competitive Insights.

The Network Attached Storage (NAS) market is a rapidly evolving industry with several key players competing for market share. These companies are engaging in various activities to stay ahead of the competition and meet the growing demands of customers. For instance, Synology is focusing on innovation and product development. The company has been launching new products and software updates regularly, such as its latest DiskStation Manager (DSM) operating system, which offers enhanced performance, security, and usability.

Some of the major players operating in the global market include:

  • ASUSTOR Inc.
  • Buffalo America Inc.
  • D-Link Corporation
  • Drobo Inc
  • Netgear Inc.
  • QNAP Systems Inc.
  • Seagate Technology
  • StorCentric
  • Synology Inc.
  • Western Digital Corporation
  • ZyXEL Communications Inc.

Recent Developments

  • In September 2023, Huawei, a provider of information and communications technology infrastructure and smart devices, launched the OceanStor Pacific 9920 network-attached storage (NAS) array in Europe, offering up to 92TB raw capacity in 2U of rack space.
  • In June 2022, StorCentric, a data-centric security company that provides an extensive line of secure data management solutions, announced the general availability (GA) release of Nexsan EZ-NAS network attached storage (NAS).

Consumer Network Attached Storage Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 6.30 Billion

Revenue Forecast in 2032

USD 15.02 Billion

CAGR

11.5% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD Billion and CAGR from 2024 to 2032

Segments Covered

By Design, By Mount Type, By Deployment, By End-user, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements concerning countries, regions, and segmentation.

FAQ's

The global key Consumer Network Attached Storage (NAS) market players include ASUSTOR Inc., Buffalo America Inc., D-Link Corporation, Drobo Inc., Netgear Inc., QNAP Systems Inc

The global consumer network attached storage (NAS) market is expected to grow at a CAGR of 11.5% during the forecast period.

Consumer Network Attached Storage (NAS) Market report covering key segments are design, mount type, deployment, end-user, and region.

The key driving factors in Consumer Network Attached Storage (NAS) Market are global shift towards remote work has emphasized the importance of efficient data sharing and collaboration.

Consumer Network Attached Storage (NAS) Market Size Worth USD 15.02 Billion By 2032.