Increasing Demand for High-performance NAS Devices that Complement Business Growth

As a customer, one understands the risks of losing data due to the technical drawbacks of systems and devices. Hence, vendors in the network attached storage solutions market are under constant pressure to support the backup and storage infrastructure of stakeholders in BFSI, IT & telecommunications, and other sectors that reply on data, valued in terms of millions of dollars.

Since the backing up of data is just one aspect of running a successful business, there is growing demand for high-performance network attached storage devices in the IT and telecommunications landscape that can be upgraded as the organization grows. This explains why the IT and telecommunications sector is estimated for the highest revenue in the network attached storage solutions market, with a value projection of ~US$ 2 billion by the year 2027.

Performance-intensive NAS systems help stakeholders in the IT and telecommunications space to focus on other important aspects of the business. Hence, vendors in the NAS solutions market are simplifying the tasks for other business owners by creating easy-to-manage centralized systems that securely store documents, images, and other multimedia files.

network attached storage nas solutions market infographic

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NAS Supports Growing Storage & Streaming Demands in Media & Entertainment Space

There is increasing demand for efficient and cost-competitive NAS devices that business owners can rely on for data security, with easy search and share options for the data. As such, stakeholders in the network attached storage solutions market are innovating new NAS systems that cater to the growing needs of media and entertainment.

Currently, the media and entertainment sector holds the third-largest position in terms of revenue amongst all the industries in the NAS solutions market, with a value of ~US$ 970 million in 2018. Since media and entertainment forms a significant part of any individual’s lifestyle, market players in the network attached storage solutions market are introducing ideal NAS devices that back-up the data of personal computers and smart devices.

As more and more individuals are becoming active on Over the Top (OTT) media services platforms, they are increasingly adopting NAS technology to store and stream videos and digital photos. NAS devices come in handy for individuals, as these systems are more reliable than cloud service platforms, in cases when a file gets accidentally deleted and in cases of recovery of data from crashed systems.

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Hybrid Cloud-based Software Alleviate Problems of Unstructured Data Storage

Stakeholders are facing a threat from substitute storage solution options that are more efficient and scalable. Since NAS devices are built on legacy software, consumers demand the integration of these devices with Artificial Intelligence and analytics. This creates substantial evidence for the modest CAGR of ~4% of the network attached storage solutions market.

The network attached storage solutions market is highly consolidated. This is another aspect that is inhibiting market growth. The consolidated nature of the market restricts emerging players from entering the market. Since emerging players lack the capital and resources to compete with leading vendors, it is even more difficult for smaller players to strengthen their business in the market.

Stakeholders are developing hybrid systems that can manage unstructured file storage. They are introducing devices that alleviate the problem of duplicate copies of files and that assist in balancing backend storage. For instance, in May 2019, IBM - a leading American computer hardware company, announced a collaboration with Panzura - a multi-cloud data management & file services company, to launch Panzura Freedom™ - a NAS file services platform, which is an intelligent hybrid cloud storage solution software.

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Analysts’ Viewpoint

Stakeholders in the network attached storage solutions market are offering value-added features such as big data analytics and collaboration applications to contribute to the overall development of business environments.

Since most NAS systems are not scalable in tandem with larger repositories of data, business owners are increasingly taking interest in developing their own customized software to avoid the burden of expensive extension charges. Hence, vendors should increase their production capabilities of hybrid cloud-based software systems that modernize file-based environments.

Market players should increase their focus on catering to the needs of SMEs, since the market share of these enterprises is anticipated to grow from ~36% in 2019 to 39% by 2027, in the NAS solutions market.

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Network Attached Storage (NAS) Solutions Market in Brief

  • Network attached storage (NAS) is a centralized storage system that can be accessed by multiple users and devices for the purpose of data retrieval. NAS operates as an independent node, and it has a dedicated Internet protocol (IP) address. Simplified access along with reduced spending on storage are the major advantages offered by NAS solutions.
  • Furthermore, NAS devices are flexible in terms of storage capacity. Users can increase their capacity by adding additional storage to the existing infrastructure.
  • The network attached storage solutions market is forecasted to grow to ~US$ 10 Bn by 2027, recording a CAGR of ~4%.
  • Enterprises are opting for advanced solutions to manage their data due to the growing demand for storage and increase in the data generated from daily operations. Changing technological landscape and growing security concerns are driving enterprises to implement a suitable storage architecture that would integrate with their existing infrastructure and comply with the required policies.
  • Conventional storage technologies are non-compliant with existing policies, and do not provide a comprehensive solution for storage requirements. Speed and accessibility offered by NAS are responsible for its growing adoption by end users.
  • Furthermore, backup and recovery applications are also using NAS, as it provides an additional layer for the storage of a large amount of data. Centralized management results in simplified administrative duties. It allows quicker collaboration and failure remediation without affecting all the users on the network.
  • The management of large enterprise data volume residing at multiple branch locations and remote sites is simplified with the help of network attached storage solutions. It works as a simple plug-in to the enterprise infrastructure, and provides centralized storage and other related services to users on different platforms.
  • A single NAS device or component increases the storage capacity for all the nodes or workstations. Additionally, NAS can be operated from a single node in a network or even from a remote workstation due to the central management facility. Collectively, all the factors mentioned above are driving the growth of the global network attached storage solutions market.

Market Dynamics - Network Attached Storage Solutions Market

  • Network attached storage is a cost-effective technology as compared to traditional file servers, as the spending on expensive hardware, labor, and licensing is reduced significantly. NAS also provides an integrated solution, wherein, hardware, storage devices, and operating systems are combined in a single device. Furthermore, operating system and client access licenses are not required in an NAS environment, further reducing the enterprise cost on storage. Updates of the system are applied end-to-end in a single instance; it helps in easy up-gradation of the entire system, saving time and cost. File sharing protocols such as network file system (NFS) and server message block (SMB) are supported by NAS, further increasing their popularity among end users for data sharing.
  • High volume data requiring high level of performance may not be suitable for network attached storage, as it consumes higher bandwidth of the network. Ethernet implementation is expected to result in congestion and data loss, unless a lossless architecture is implemented. Furthermore, the performance level of NAS depends on the available bandwidth of the network, and it may perform at a lower level in case of limited bandwidth.
  • The network attached storage solutions market is segmented on the basis of component, enterprise size, and industry. Based on component, the NAS solutions market has been segmented into hardware and services (consulting, system integration, support & maintenance). The hardware component held a major share of the NAS solutions market in 2018, and is expected to dominate the network attached storage solutions market till the end of 2027. In terms of industry, the network attached storage solutions market has been bifurcated into BFSI, retail & e-Commerce, government & education, military & defense, healthcare, IT & telecom, energy & utilities, manufacturing, and others (logistics & transportation). Small and medium enterprises and large enterprises are covered under the enterprise size segment in the network attached storage solutions market.

North America Network Attached Storage Solutions Market – Snapshot

  • North America is projected to hold a majority share in the global network attached storage solutions market, due to increasing digitization and the need for an effective solution to storage large volumes of data. The responsiveness of enterprises toward implementing advanced storage architecture is also responsible for the proliferation of network attached storage systems in the North America region. The network attached storage solutions market in Asia Pacific is expected to generate attractive opportunities during the forecast period, due to growing IT budgets and increased data storage requirements.

Network Attached Storage Solutions Market – Competitive Landscape

  • Oracle Corporation: Oracle Corporation provides products and services that address all aspects of corporate Information Technology (IT) environments - applications, platforms, communications, and infrastructure. The company provides open, corporate communication solutions that drive business transformation for its customers, and also helps them adapt to the changing economy by relying on real-time communication (NOW economy, by Oracle). The company offers Oracle ZFS Storage Appliance in network attached storage solutions.
  • NetApp, Inc: The company provides software, systems, and services to manage and share data on-premise, and on private and public clouds, worldwide. It offers network attached storage systems and software such as NetApp ONTAP Select, which offers robust enterprise storage services. It also offers the NetApp ONTAP storage operating system, NetApp HCI, and NetApp cloud volume.
  • Hitachi Ltd.: Hitachi Ltd is a diversified company operating a wide range of business segments in the global network attached storage solutions market. These include social infrastructure, financial services, electronic systems & equipment, information & telecommunication systems, Smart Life & Ecofriendly Systems, and high functional materials & components. The company provides products for the network attached storage solutions market, such as Hitachi NAS Platform, and Hitachi Essential NAS Platform.
  • Some of the key players profiled in the NAS solutions market report include -
    • Hewlett Packard Enterprise Development L.P.
    • Dell, Inc.
    • IBM Corporation
    • DataDirect Networks Inc.
    • Fujitsu Ltd.
    • Quantum Corporation
    • Dawning Information Industry Co. Ltd.

Network Attached Storage (NAS) Solutions Market: Scope of the Report

[184 Pages Report] TMR’s recent publication on the network attached storage (NAS) solutions market provides audiences with an overall market outlook, with the help of comprehensive assessment of the global NAS solutions market scenario. TMR’s study on the network attached storage solutions market analyzes the industry with respect to the historical and current market scenario, and offers forecasts for the period of 2019 - 2027.

Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive network attached storage solutions market insights enclosed in the study. The network attached storage solutions market report also provides an in-depth understanding of the key industry trends and developments undertaken by players in the market. This TMR report on the NAS solutions market is divided into different sections that allow readers to gain an individual understanding of the network attached storage solutions market.

Key Queries Addressed in the Report

  • How much revenue is the network attached storage solutions market expected to generate by the end of the forecast period?
  • Which NAS component is likely to generate the highest revenue by 2027?
  • What are the key growth indicators and market dynamics that are expected to drive the growth of the NAS solutions market in the next five years?
  • Which regions are likely to provide profitable scope of opportunities for network attached storage solutions market competitors?
  • What are the essential strategies incorporated by key NAS solutions market players in an attempt to expand their market presence?

The first section in TMR’s report on the network attached storage solutions market begins with the report scope, market segmentation, and research highlights. Following this is the executive summary that emphasizes the network attached storage solutions market aspects covered in the study. This section provides a brief understanding of market elements, and enables readers to understand the aspects covered in the study. The report also includes market dynamics that offer an understanding of the market drivers, restraints, and opportunities.

The next section includes an extensive segmentation analysis of the network attached storage solutions market. This evaluation includes the division of the network attached storage solutions market segments on the basis of key factors such as component, enterprise size, industry, and region. Further, an analysis of these key segments in the network attached storage solutions market, year-on-year growth projections, and basis point share analysis are included in the report, which helps readers identify promising market growth areas.

The TMR study on the network attached storage solutions market offers an assessment of the geographical landscape of the market. A regional study helps market competitors make important decisions pertaining to their business. Individualized, country-wise, and segment-wise analysis pertaining to individual regions helps readers of the NAS solutions market report to decipher the potential of the market in various geographies. Supported by year-on-year growth projections, and global value and volume share, this section is a vital part of the report.

The study on the network attached storage solutions market offers a holistic competitive value judgment, with the details of leading and emerging market players. The dashboard view of the competitors in the network attached storage solutions market report allows readers to understand their business and the strategies implemented by key players, along with their performance in the market.

NAS Solutions Market: Research Methodology

The TMR report on the network attached storage solutions market is based on a detailed estimation of the market, with the inclusion of comprehensive primary and secondary research inputs. Detailed investigation of the network attached storage solutions market in terms of competitive scenario is supported by an individual-level examination of different avenues related to the industry. Analysis of the historical and current global market for network attached storage is focused on key market segments, major regions, market drivers, and other qualitative inputs, which helps TMR’s analysts derive crucial predictions and forecast analysis of the network attached storage solutions market. Readers can access the network attached storage solutions market study to gain a forecasted market analysis for the period of 2019 - 2027.

Network Attached Storage Solutions Market: Segmentation

Component

Hardware

Services

Enterprise Size

Small and Medium Enterprises

Large Enterprises

Industry

BFSI

Retail and e-Commerce

IT and Telecommunications

Media and Entertainment

Energy and Utility

Government Offices and Education

Aerospace and Defense

Healthcare

Manufacturing

Others (Transportation and Logistics)

Region

North America

South America

Asia Pacific

Europe

Middle East & Africa