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Global Consumer Network Attached Storage Market to Reach US$ 58.8 Billion by 2027, Impelled by Rapid Digitalization

Published on Jun 29, 2022

According to the latest report by IMARC Group, titled “Consumer Network Attached Storage: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global consumer network attached storage market reached a value of US$ 24.5 Billion in 2021. A consumer network-attached storage (NAS) refers to a device that is connected to a network for storing, retrieving, and sharing data from the central location to the computer systems. It consists of a central processing unit (CPU), memory unit and an operating system. It is mainly designed for heavy networks and relies on software, hardware and file-based protocols, such as common internet file system (CIFS) and network file system (NFS). NAS is widely used to manage torrent files, create, test, and develop a personal website, host a personal cloud server, manage security systems and create a media stream service. It assists in enhancing storage space and data protection, simplifying server setup procedures, automating data backup and reducing costs.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Consumer Network Attached Storage Market Trends:

The global consumer network attached storage market can be attributed to the increasing demand for digital content being stored in the cloud environment by small and medium enterprises (SMEs). In line with this, the growing preference for enhancing physical security with video surveillance, coupled with the launch of IP cameras, is favoring the market growth. Additionally, the increasing backup operation competence with server-less backup offered by NAS architecture is creating a positive outlook for the market. Apart from that, the introduction of consumer NAS devices that can be combined with the storage area network (SAN) to act as a translator between the file-level and block-level protocols is providing an impetus to the market growth. Moreover, the implementation of various government initiatives towards digitization leading to enormous development in digital data and the widespread utilization of smartphones, laptops, and tablets is positively impacting the market growth. Other factors, including the rising disposable incomes of consumers and increasing demand for smart and connected homes, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 58.8 Billion by 2027, exhibiting a CAGR of 16.2% during 2022-2027. 

Market summary

  • On the basis of the design, the market has been categorized into 1-bay, 2-bays, 4-bays, 5-bays, 6-bays and above 6 bays.
  • Based on the end user, the market has been bifurcated into home users and businesses.
  • On the basis of the deployment type, the market has been categorized into on-premises, cloud-based and hybrid.
  • On the basis of region, the market has been categorized into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), Middle East and Africa.
  • The competitive landscape of the industry has also been examined, with some of the key players being Asustor Inc. (AsusTek Computer Inc.), Buffalo Americas Inc. (Melco Holdings Inc.), D-Link Corporation, Drobo Inc. (Storcentric Inc.), Netgear Inc., QNAP Systems Inc., Synology Inc., Thecus Technology Corporation (Ennoconn), Western Digital Corporation and Zyxel Communications Corp. (Unizyx Holding Corporation).

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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