The NAS market is projected to grow from USD 25.7 billion in 2022 and is projected to reach USD 51.0 billion by 2028; it is expected to grow at a CAGR of 12.1% from 2022 to 2028

NEW YORK, Nov. 30, 2022 /PRNewswire/ --

The NAS market is projected to grow from USD 25.7 billion in 2022 and is projected to reach USD 51.0 billion by 2028; it is expected to grow at a CAGR of 12.1% from 2022 to 2028.



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The growth of this market is driven by factors such as growing use of 5G technology, surging adoption of Internet of Things (IoT) technologies and connected devices, and rising data generation with surge in use of mobile computing devices.

Market for more than 20 bays segment to grow at the high CAGR during the forecast period.
The more than 20 bays segment of the NAS market is projected to record the highest CAGR during the forecast period.The availability of more bays in the NAS system enables storing of more data generated through daily business activities.

The generation of increased data across all industries in the world is creating a need for NAS solutions with improved storage capacity.NAS solutions with more than 20 bays are customized products offered by NAS providers to the end-user industries in this market.

Large-scale organizations mostly use these solutions requiring huge data storage, processing, and recovery capacity. With the advent of a large IT industry, technological advancements, and initiatives by the governments of developing countries, including India, Malaysia, and China, toward the digitalization of data and records on a large scale, the demand for these systems is expected to rise during the forecast period.

The scale-up NAS segment held high market share in 2021.
The scale-up NAS segment held high market share in 2021.The high market share is credited to the growing adoption of these solutions across educational institutions, homes, mid-sized offices, hotels, and retail stores, where a moderate level of data is generated, and the only requirement is to store this data.

A scale-up NAS is a conventional standalone type of NAS system with limited storage and memory.The solution offers low-cost benefits compared to the scale-out solution.

These features increases its adoption across NAS market over the forecast timeframe.

Asia Pacific will be the fastest growing region in NAS market during the forecast period
Asia Pacific is expected to be the fastest-growing region in the NAS market during the forecast period.Rapid urbanization and increased investments in R&D by NAS solution providers in Asia Pacific contribute significantly to the increasing demand for NAS systems in the region.

To remain competitive in increasing operational efficiency, operational outcomes, and financial profitability, companies in this region are investing a lot in upgrading their IT capabilities. Also, a few major players offering NAS products and services, such as Synology, Inc. (Taiwan) and QNAP Systems, Inc. (Taiwan), are headquartered in this region. The market in this region is expected to grow at a significant pace, mainly led by the growing economies and an increasing number of small and medium-scale businesses, along with mandatory regulations pertaining to digital transformation imposed by the government.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the NAS space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 â€" 50%, Tier 2 â€" 20%, and Tier 3 â€" 30%
• By Designation: C-level Executives â€" 10%, Directors â€"20%, and Others â€" 70%
• By Region: North America â€"20%, Europe â€" 15%, Asia Pacificâ€" 55%, and RoW â€" 10%
The report profiles key players in the NAS market with their respective market ranking analysis. Prominent players profiled in this report are include Dell Technologies Inc. (US), NetApp, Inc. (US), Hewlett Packard Enterprise Company (US), Hitachi, Ltd. (Japan), Western Digital Corporation (US), Seagate Technology Holdings Public Limited Company (US), NETGEAR, Inc. (US), Synology Inc. (Taiwan), Buffalo Americas, Inc. (US), Pure Storage, Inc. (US), and QNAP Systems, Inc. (Taiwan). Apart from these, Infortrend Technology Inc. (Taiwan), iXsystems, Inc. (US), Spectra Logic Corporation (US), Thecus Technology Corp. (Taiwan), D-Link Corporation (Taiwan), and Panasas (US) are among a few emerging companies in the NAS market.

Research Coverage:
This research report categorizes the NAS market on the basis of design, product, storage solution, deployment type, end-user industry and region.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the NAS market and forecasts the same till 2028.

Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the NAS ecosystem.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the NAS market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies, based on the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.

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