Network Attached Storage Market to value USD 40 BN by 2027; Says Global Market Insights Inc.

The network attached storage (NAS) market from cloud deployment model is poised to capture about 15% of the revenue share by 2027 as an exponential rise in data results in a rise in data storage costs which resulted in many businesses switching to cloud-based NAS systems.

SELBYVILLE, Del., Nov. 17, 2021 /PRNewswire/ -- Network Attached Storage (NAS) Market revenue is anticipated to cross USD 40 billion by 2027, as reported in a research study by Global Market Insights Inc. Rising demand for cheaper and more easily expandable storage without the need for complex & expensive multi-purpose server solutions is proliferating the industry growth.

The widespread adoption of 4G data transfer technology and rapid advancement toward the implementation of 5G networks are expected to amplify the demand for NAS solutions. Audio, video & graphic content measuring high in terms of file size are being generated and shared extensively through these platforms. NAS solutions are garnering an increasing demand from consumers for personal data backup functions.

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The 8-bay to 12-bay design segment is projected to grow at above 10% CAGR through 2027, which is attributed to the extremely fast data processing speeds and cost benefits offered by these NAS solutions. The 8-bay to 12-bay solutions offer high performance for challenging business requirements and assist businesses in centralizing their storage, deploying virtualization solutions & simplifying the data management.

The cloud deployment model segment is poised to capture over 15% of the NAS market share by 2027. An exponential rise in data results in a rise in data storage costs. This factor has resulted in many businesses switching to cloud based NAS systems. The cloud based NAS storage systems are used for data backups & archiving and offer 24x7 accessibility, thereby driving the market demand.

The IT & telecom sector is estimated to witness substantial growth during 2021 to 2027 for managing the exponentially increasing data between varied nodes in distinct locations. Rapid industrialization and government initiatives for digitalization have resulted in an upsurge in the IT & telecom industry to meet the growing customer demands. The growth in internet usage and extensive acceptance of packet-switched data that is implemented using IP technology have positively reshaped the NAS market.

The European NAS market is observing a steady growth through 2027. The demand for NAS systems is rising from both individual consumers and business segments in the region. A rapid rise in the amount of tech-savvy people, improved education, and the economic growth are major factors accelerating the market demand. A rise in surveillance security concerns has paved ways for various mandates that state that the videos must be saved within the organizational network.

Companies operating in the market are focusing on consistent product launches and addition of new product features as their premier go-to-market strategy. For instance, in April 2020, QNAP Systems Inc. released the QTS 4.4.2 NAS operating system. The new NAS operating system significantly enhances system security and storage scalability along with strengthening the storage expandability to cater to large file storage & backup needs.

Some major findings of the network attached storage (NAS) market report include:

• The water treatment segment consists of pumps employed in municipal water supply and wastewater treatment. The rising application of these pumps in water supply and wastewater treatment is likely to boost the overall market growth. Side channel pump is widely used to transfer liquid or gas and is applicable for industrial use.
• The flourishing food & beverage industry in Asia Pacific side channel pumps market will aid to the market expansion. For instance, according to the Asia Food Challenge Report, spending on food in the Asian region is set to double in this decade and is likely to reach USD 8 trillion.
• The low risk of cavitation and their ability to self-prime are major factors fueling the usage of these pumps in the petrochemical industries. The expansion of petrochemical plants in the Asia Pacific region will further support the market development.

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Partial chapters of report table of contents (TOC):

Chapter 3 NAS Industry Insights

3.1  Introduction

3.2  Industry segmentation

3.3  COVID-19 impact

3.3.1  Impact by region

3.3.1.1  North America

3.3.1.2  Europe

3.3.1.3  Asia Pacific

3.3.1.4  Latin America

3.3.1.5  Middle East & Africa

3.3.2  Impact by value chain

3.3.3  Impact by competitive landscape

3.4  Evolution of NAS

3.5  NAS industry ecosystem analysis

3.5.1  Networking hardware providers

3.5.2  Cloud service providers

3.5.3  System integrator

3.5.4  End-users

3.6  NAS architecture

3.7  SAN vs NAS storage

3.8  Technology & innovation landscape

3.8.1  All flash and hybrid flash arrays

3.8.2  Multiprotocol unified storage

3.9  Investment portfolio

3.10  Regulatory landscape

3.10.1  Global

3.10.1.1  . The ISA/IEC 62443 standard

3.10.2  North America

3.10.2.1  NIST Special Publication 800-53 - Guidelines on Security and Privacy Controls for. Federal Information Systems and Organizations (U.S.)

3.10.2.2  California Online Privacy Protection Act (CalOPPA – U.S.)

3.10.2.3  Critical Infrastructure Protection Mandates, NERC (North America)

3.10.3  Europe

3.10.3.1  General Data Protection Regulation (EU)

3.10.3.2  Network and Information System (NIS) Regulation (UK)

3.10.3.3  The Security of Network and Information Services Directive (EU)

3.10.4  APAC

3.10.4.1  Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.10.4.2  Secure India National Digital Communications Policy 2018 – Draft (India)

3.10.5  Latin America

3.10.5.1  National Directorate of Personal Data Protection (Argentina)

3.10.5.2  The Brazilian General Data Protection Law (LGPD)

3.10.6  MEA

3.10.6.1  Law No. 13 of 2016 on protecting personal data (Qatar)

3.10.6.2  Federal Law No. 2 of 2019 on the use of ICT in Healthcare (UAE) Industry impact forces

3.10.7  Growth drivers

3.10.7.1  Increase in Big Data analytics and data mining applications

3.10.7.2  Growing popularity of NAS for home/consumer applications

3.10.7.3  Rising adoption of Cloud NAS file storage as a service

3.10.7.4  Surging digitalization across various industry verticals

3.10.8  Industry pitfalls & challenges

3.10.8.1  Concerns regarding data security

3.10.8.2  Concerns regarding bandwidth performance for remotely hosted NAS

3.11  Growth potential analysis

3.12  Porter's analysis

3.13  PESTEL analysis

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.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

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SOURCE Global Market Insights Inc.