Global Consumer Network Attached Storage Market By Type (1-Bay, 2-Bays, 4-Bays, 5-Bays, 6 Bays, and Above 6 Bays) By End-User (Home and Business) As well as by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast: 2023-2032

Consumer Network Attached Storage Market Overview

The consumer network attached storage market size is expected to be worth around USD 19346.52 million by 2031 from USD 3,440 million in 2021, growing at a CAGR of 17% during the forecast period 2022 to 2032.

Over the course of the projected period, this market is expected to expand significantly. An increase in data storage capacities and network sharing capabilities will be the main key factors driving growth for the consumer NAS market.

Modern-age people accepting of technologically advanced products like laptops, tablets, smartphones and other smart devices and they are becoming more tech savvy.

Global Consumer Network Attached Storage Market Scope:

End-User Analysis

Key market drivers of the consumer network-attached storage (NAS) market are the growing demand for data backup systems that are efficient, facilitate fast data transfer and are cost-effective storage solutions.

The global consumer network attached storage market is segmented on the basis of Home and Business. Over the forecast period, the largest market share for the ‘Business’ segment is expected to be significant.

A majority of consumers implement consumer NAS for backup, media streaming, and home surveillance. Small and medium-sized businesses deploy network attached storage to reduce their ownership costs. On account of robust urbanization, these elements are slated to drive market growth prospects for the consumer NAS market.

Network ecosystems are transitioning from server-based models to data-based models. Consumers are now able to take storage decisions independently from server decisions due to the growth in information storage, management, and retrieval. It is predicted that this will drive revenue growth due to increase consumer NAS demand over the forecast period.

Key Маrkеt Segments:

By Type

• 1-Bay
• 2-Bays
• 4-Bays
• 5-Bays
• 6-Bays
• Above 6 Bays

By End-User

• Home
• Business

Market Dynamics:

A storage device that is connected to a private or professional network is called a NAS. As a result, a user can access files stored on the drive from PCs and mobile devices.

Innovative services that give users or other users access to high-quality material and the capacity to access saved data from any smart devices or computer system will improve the overall consumer experience. This is anticipated to enhance the demand for consumer NAS.

Individuals now have more money to spend, which is anticipated to boost the revenue growth of the consumer NAS market. Consumers today are also growing more tech-savvy and are open to purchasing goods or services with cutting-edge technology. The growing demand for surveillance is also driving growth in the Consumer Network Attached Storage market.

An operating system, memory, and a Central Processing Unit (CPU) make up a standard consumer network attached storage. There are other choices, including diskless NAS and NAS with preinstalled drives. Additionally, users can access the information on it without a physical device.

As a result, there are now more stringent regulatory obligations for an organization’s data storage and sharing. In turn, this has increased consumer NAS usage. The key drivers in growth of the network attached storage market include rising data generation, surging adoption of Internet of Things technologies, increased use of mobile computing devices and connected devices.

The market for NAS will see a growing demand for real-time data and an increasing use of hybrid cloud storage. This is expected to provide lucrative opportunities for players in the consumer network attached storage market.

Government agencies as well as the BFSI, telecom & IT, media, healthcare, and retail industries are continually producing vast amounts of data at high rates. As a result, it is more crucial to store this data securely and make it simple to access it for analysis when needed.

Both commercial and residential premises are in increasing need of effective monitoring solutions. Due to the growing tendency to replace physical security with video surveillance and the introduction of IP cameras, video surveillance systems are becoming more and more in demand. When it comes to stopping thefts and acquiring evidence for court proceedings, video monitoring is quite crucial.

As part of numerous initiatives aimed at enhancing public safety, traffic management, law enforcement agencies, government agencies, and regulatory bodies have begun to implement video surveillance.

Body cameras and drones can also be included into video surveillance systems, keeping up with technological advancements. If video surveillance footage needs to be kept secure and available, a dependable storage solution is necessary.

The consumer network attached storage market for consumer NAS is increasingly being threatened by cloud-based services. Because cloud-based solutions offer more security, flexibility, and resilience, many medium enterprises are now opting for these solutions to meet their data storage needs.

Organizations using cloud-based solutions have the option to choose from a wide range of cloud service providers that charge reasonable pricing for their services. Cloud service companies give alternatives that are adaptable and configurable. Limited storage space and free trials lasting up to a year are also available. More businesses are looking to the cloud for their services.

Because a growing number of customers utilize NAS systems, there is a greater demand for high-performance storage devices. Despite rising CPU and RAM capabilities, consumer NAS solutions with slower hard drive response times can affect overall performance.

Rising data generation due to increased use of Personal computers, mobile computing devices or enterprise desktops used to be the main sources of data generation.

Regional Analysis

Established technology companies are a major factor in driving market growth prospects in North America. These players also make significant investments towards R&D initiatives. North America accounts for a significant share of 39.1% in this global Consumer Network Attached Storage market.

Europe is following North America’s lead by increasing the level of awareness concerning the benefits of consumer NAS. The U.S. market is expected to index a significant rise in demand if technology startups boost their use of network attached storage. It is expected that market revenues will be significantly boosted by the fact that this region is one the most important startup hubs in the world.

Asia Pacific is expected to experience a significant increase in its population over the forecast period. This can be attributed to improvements in network infrastructure and increased use of portable devices like laptops and smartphones to access data.

Due to growing awareness of the technology’s benefits, the APAC region market is anticipated to experience a higher CAGR. This Consumer Network Attached Storage market is driven by improving living standards and an increase in disposable incomes. In the last few years, countries in Europe have registered a surge in the number of startups.

Consumer NAS is being adopted by many organizations and businesses. The high penetration of electronics in the UK is also driving the growth of the U.K. market. The demand of consumer NAS is expected to increase due to better standards of living, and the implementation of various advancements in storage technology.

To meet users demand, the leading players have adopted a variety of strategies, collaborations, including mergers, acquisitions and partnerships, new product development, and partnership.

Key Regions and Countries Covered in This Report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Details about each competitor are included in the competitive landscape segment of our analysis on the consumer network attached storage market major players like QNAP Systems, Inc., Hewlett Packard Enterprise Company, Buffalo Americas Inc., Hitachi Data Systems Corporation, Synology Inc, NETGEAR Inc, Infortrend Technology Inc., AsusTek Computer Inc., Drobo Inc., Melco Holdings Inc., Storcentric Inc., Hewlett-Packard Enterprise Company, EMC Corporation, and other key market players.

A company’s financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included.

Маrkеt Key Players:

• Asustor Inc.
• Buffalo Americas Inc.
• Thecus Technology Corporation
• D-Link Corporation
• Infortrend Technology Inc.
• AsusTek Computer Inc.
• Melco Holdings Inc.
• Storcentric Inc.
• Drobo Inc.
• Seagate Technology plc
• Hitachi Data Systems Corporation
• Netgear Inc.
• QNAP Systems Inc.
• Synology Inc.
• Thecus
• Other Key Players