Network Attached Storage Market to Hit USD 115.2 Bn by 2032

Global network attached storage (NAS) industry revenue was US$ 26.9 billion in FY 2021 and is expected to reach US$ 31.1 billion in 2022, with a 15.61 percent year-on-year growth rate. The market is poised to begin a positive trend, with a 14 percent value CAGR from 2022 to 2032. By 2032, the market is expected to be worth US$ 115.2 billion.

Overall, until 2032, the NAS landscape is expected to generate an absolute dollar opportunity worth US$ 84.1 billion. Sales of NAS for software will continue to grow, with a 15.2 percent CAGR from 2015 to 2021. On-premises NAS was the fastest growing deployment type, with 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 NAS 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.

Key Companies Profiled in the Global Network Attached Storage (NAS) Market

• Dell Technologies Inc.
• NetApp, Inc.
• HEWLETT PACKARD ENTERPRISE COMPANY
• Hitachi, Ltd
• WESTERN DIGITAL CORPORATION
• SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANYNETGEAR, Inc.
• Synology, Inc.
• Buffalo Americas, Inc.
• QNAP Systems, Inc.
• Drobo, Inc.
• ASUSTOR Inc.

Key Segments Covered in Network Attached Storage (NAS) Market Report

By Solution :

• NAS Hardware
• NAS Software

By Design:

• NAS from 1 to 8 Bays
• NAS from 8 to 12 Bays
• NAS from 12 to 20 Bays
• NAS of more than 20-Bays

By Product:

• Enterprise NAS Solutions
• Midmarket NAS Solutions

By Storage Solution:

• Scale-up NAS
• Scale-out NAS

By Deployment Type:

• On-premises Network Attached Storage
• Remote Network Attached Storage
• Hybrid Network Attached Storage

By End-User:

• Banking, Financial Services, and Insurance (BFSI)                       
• Consumer Goods and Retail                                
• Telecommunications and ITES                            
• Healthcare                            
• Energy                       
• Government                        
• Education and Research                           
• Media and Entertainment                        
• Manufacturing                                
• Business and Consulting                           
• Other End-User Industries (Aerospace & Defense, Automotive, Food Processing, and Logistics)

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

These insights are based on a report on Network Attached Storage (NAS) Market by Fact.MR.