Network Attached Storage Market Share, Trend & Growth Forecast to 2032

 

As per a recent research report, Network Attached Storage Market to surpass USD 100 Bn by 2032.

Network Attached Storage (NAS) Market is estimated to witness massive growth through 2032 owing to the rapid adoption of storage systems by home consumers. Besides, a reliable data storage solution is currently a necessity for any business or institution to run efficiently. Several benefits offered by NAS, such as more storage space, flawless collaboration, private cloud storage, automated data backup, data protection, a simple server setup procedure, and remote access, are estimated to propel the growth in the future.

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Cloud-based NAS storage solutions are constantly emerging as the most preferred choices for small, medium, and large-scale corporations. Virtual NAS empowers businesses to use cloud storage for their multitudinous applications, systems, and archival functions, which is anticipated to influence the market outlook positively in the coming years.

 

Overall, the network attached storage (NAS) industry is segmented in terms of architecture, design, deployment mode, application, business, and region.

Based on architecture, the scale-out segment will demonstrate sturdy growth throughout 2023-2032. The growth can be attributed to the benefits offered by scale-out NAS architecture such as reduced hardware complexity and the flexibility of scaling performance.

Considering the design, the 8-bay to 12-bay segment will grow considerably by 2032 end. 8-bay to 12-bay NAS solutions assist challenging businesses in centralizing their storage, deploying virtualization solutions, and simplifying data management for enterprises.

On the basis of deployment mode, the cloud deployment segment held over 15% market share in 2022 and is slated to grow exponentially during 2023-2032. Cloud computing platforms for scalable data storage applications have constantly been gaining traction, which will act as a key factor stimulating the market expansion over the coming years.

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In terms of application, the business segment will exhibit strong growth owing to the rising demand for fast bulk data transfer, secured data backup requirements, and cost-effective storage solutions. Besides, the companies operating in the market are offering tailored NAS solutions as per the clientele requirements, which is further slated to encourage its adoption in the business segment.

Based on the business, the IT & Telecom segment held over 20% market share in 2022 and is slated to grow exponentially through the coming years. The growth can be credited to the rising adoption of 5G technologies and surging installation of handheld devices that have resulted in increasing the need for secured storage.

Regionally, the Europe network attached storage (NAS) industry is anticipated to account for over 25% market share by 2032 end. Economic growth, technological innovations, and enhanced education trend are some of the critical factors that are slated to drive regional growth through the estimated timeframe.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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