Global network attached storage (NAS) industry revenue stood at US$ 26.9 Billion in FY 2021, and is forecast to reach US$ 31.1 Billion, registering a Y-o-Y expansion rate worth 15.61% in 2022. The market is poised to embark on a positive trajectory, documenting a 14% value CAGR from 2022-2032. The market is projected to reach US$ 115.2 Billion by 2032.
Overall, the NAS landscape is poised to yield an absolute dollar opportunity worth US$ 84.1 Billion until 2032. Sales of NAS for software will continue to flourish, with a documented CAGR of 15.2% from 2015 to 2021. By deployment type, on-premises network attached storage (NAS) registered high growth, documenting a CAGR of 14.8% from 2015-to 2021.
Network attached storage (NAS) market demand is expected to remain the highest in the United States, reaching US$ 39.8 billion in 2032. North America will maintain its market leadership, with opportunities totalling US$ 46.31 billion during the forecast period.
Competitive Landscape
Prominent network attached storage service providers are reliant on offering new and enhanced services to potential clients, as well as forging partnership agreements, acquiring small to medium-sized players, and filing of patents or other regulatory approvals to remain afloat in the market. Some prominent developments in this field are as follows:
- Dell Technologies will introduce new PowerScale products in October 2021. Dell’s NAS solution improves flexible consumption, data management, and security capabilities, in addition to eliminating data silos and assisting in the better use of unstructured data. PowerScale and Archive nodes are among the new features. According to Dell, the changes will improve performance by 75%.
- Hitachi Vantara’s NVMe flash systems will be available in the medium-sized business segment in October 2021. Hitachi has expanded its Virtual Storage Platform (VSP) E Series lineup with the addition of 2u E590 and E790 models. The new Hitachi storage arrays have raw NVMe flash capacities of 360 TB each. The main difference is the number of cores: the E790 has 64 and the E590 has 24.
What are the Growth Prospects for Network Attached Storage in the U.K?
The presence of big tech companies and massive R&D investments are some of the driving factors in this region. With increasing consumer demand and the benefits offered by the consumer, the UK holds a significant market share in network attached storage solutions in this region.
The market for the UK is expected to grow at a CAGR of 12.9% during the forecast period. As per Fact.MR’s report, the U.K market is expected to reach US$ 4.8 Billion in 2032, generating a dollar opportunity worth US$ 3.4 Billion during the said period of assessment.
Technology start-ups, particularly in the UK, are increasingly deploying NAS as a means of saving data. As a result, the NAS market in the UK will continue to grow significantly in the coming years. Due to an increase in disposable income, coupled with the increase in purchasing power of individuals, the U.K. NAS market is expected to grow at a rapid speed. In addition to the government initiatives to protect data centers and data space, the use of NAS products has also seen an increase in demand for NAS in the region.
These insights are based on a report onNetwork Attached Storage (NAS) Market by Fact.MR.
 industry revenue stood at US$ 26.9 Billion in FY 2021, and is forecast to reach US$ 31.1 Billion){kind=link}