The Global Market for Network Attached Storage (NAS) Devices is Projected to Reach US$13.2 Billion by 2022

The Creation of a Data Led Economy Provides Opportunities for the Network Attached Storage Devices Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Network Attached Storage (NAS) Devices market. The global market for Network Attached Storage (NAS) Devices is projected to reach US$13.2 billion by 2022, driven by the creation of a data led economy and the resulting rise in importance of data storage technologies. 

While the 18^th, 19^th and 20^th century recorded a rush for mining gold and oil resources, the 21st century is currently witnessing a new kind of craze for mining called “Data Mining”. The emergence of an information driven economy is making data more valuable than gold. The modern world is a data factory with machines and humans alike, generating vast volumes of valuable data. The present data-driven economy is supported by numerous pillars such as telecommunications, Internet, broadband, software applications, and IT. Digital information has emerged into one of the most expensive and valuable assets for any company, accounting for over 50% of the total value of businesses, exceeding the cost of IT hardware and software resources. Data has the disruptive potential to transform enterprises, businesses, people and industries and therefore needs to be stored for retrieval and analysis at a future date to create usable insights. Development of analytical tools and their evolution from descriptive, predictive to prescriptive are helping companies extract actionable insights from data. Innovative technologies like “Big Data powered by Hadooponomics”, “Internet of Things” and “Cloud Computing” are helping strengthen the business case for data mining and storage.

From internal to external to cloud, storage technologies continue to evolve. Storage drives are getting smaller, capacities keep getting bigger, while cost of storage keeps declining making it cheaper and affordable. Enterprise storage architectures are also evolving from Direct Attached Storage (DAS) to Storage Area Network (SAN) to SAN over IP, Fibre Channel over Ethernet (FCoE) to Network Attached Storage (NAS). The relentless increase in unstructured data is redefining and reshaping storage architectures. Emerging technologies such as object storage, cloud storage, software defined storage, and All Flash Arrays are setting new paradigms, both challenging and encouraging innovation in traditional, standard storage systems like SAN and NAS. The market for Network Attached Storage (NAS) devices is forecast to be driven by the increase in big data projects and the ensuing investments in next-generation scale-out NAS architecture; focus on datacenter storage virtualization and the resulting interest in virtual NAS; commercialization of high-end NAS with all flash and hybrid storage arrays; and rising investments in disruptive cloud technologies and a parallel rise in popularity of cloud NAS File Storage as a Service. 

As stated by the new market research report on Network Attached Storage (NAS) Devices, North America represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 15.0% over the analysis period, led by strong interest in NAS technology as a tool to leverage the benefits of enterprise mobility and BYOD among the expanding base of SMBs in the region. While enterprise mobility and BYOD trends promise numerous benefits, the ability to realize these benefits involves overcoming the limitations of data storage performance. Cost efficient, scalable and efficient data storage technologies are therefore vital for the success of enterprise mobility and BYOD projects.

Major players in the market include ASUSTOR Inc., Avere Systems, Buffalo, Inc., Dell EMC, Dell, Inc., Hewlett Packard Enterprise Development LP, Hitachi Vantara, International Business Machines Corp., Nasuni Corp., NetApp, Inc., NETGEAR®, Inc., Oracle Corp., Overland-Tandberg, Panasas, Inc., QNAP Systems, Inc., Seagate Technology plc, Synology, Inc., Western Digital Corp., and Zadara Storage among others. 

The research report titled “Network Attached Storage (NAS) Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the North America, Europe (France, Germany, Italy, UK and Rest of Europe), Asia-Pacific and Rest of World. Product categories analyzed in the report include Enterprise, Departmental, and Workgroup.

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