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(IT-NEWSWIRE.COM, July 07, 2017 ) According to the latest market report "Network-Attached Storage (NAS) Market by Storage Solution (Scale-up, Scale-out), Deployment Type (On-Premise, Remote, Hybrid), End-User Industry (BFSI, Telecommunications & ITeS, Consumer Goods & Retail), and Geography - Global Forecast to 2023", the network-attached storage (NAS) market, the global NAS market is expected to be worth USD 45.21 Billion by 2023, growing at a CAGR of 20.1% from 2017 to 2023.
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For secure data storage and features such as file-based storage and multiple client access are the reason for the adoption of NAS devices across various end-user industries and hence propelling the growth of the NAS market. Following to this, increasing dependence on digital content being stored in the cloud environment by SMBs, the proliferation of social media content along with high-speed data transfer technologies such as 4G & 5G and the need for a large amount of secure data storage devices for video surveillance application is further driving the growth of the NAS market.
Scale-out NAS is expected to hold the largest market share in 2023
The NAS market for scale-out storage solution is expected to hold the largest market share in 2023. In scale-out NAS system, the capacity of the device can be expanded by adding clustered nodes to store and manage data. With the capacity of the scale-out array, its performance increases, and at the same time, there is a change in the overall system with the addition of nodes. With additional features to upgrade the storage capacity, scale-out storage solution–based NAS devices have been considered as an alternative to scale-up storage solution based–NAS devices.
NAS market for the healthcare sector to witness the highest growth rate from 2017 to 2023
The NAS market for the healthcare end-user industry is expected to grow at the highest rate during the forecast period. The healthcare industry comprises healthcare services and facilities, medical devices suppliers and manufacturers, medical insurance, and pharmaceuticals. These organizations need to keep the record of the patients. To keep track of the patients, the healthcare organizations use NAS devices. These devices enable the organizations to keep records and to analyze and keep track of patients’ history.
North America leads the NAS market in terms of market size
North America, being the early adopter of advanced data storage technologies, held the largest share of the NAS market in 2016, followed by Europe and APAC. Every industry in North America is being digitized and demands advanced data storage solutions. This is the major reason behind its largest share in the NAS market.
The companies that are profiled in the report are Dell EMC (US), NetApp, Inc. (US), Hewlett-Packard Enterprise Company (US), Hitachi Data Systems Corporation (US), Western Digital Corporation (US), NETGEAR, Inc. (US), Synology, Inc. (Taiwan), Buffalo Americas (US), Seagate Technology PLC. (US), and QNAP Systems, Inc. (Taiwan).
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This report describes the market trends, drivers, restraints, opportunities, and challenges for the NAS market and forecasts the market up to 2023. The report also includes the vendor DIVE matrix of the market, along with a detailed view of the market across 4 major regions: North America, Europe, Asia Pacific, and Rest of the World (which includes the Middle East and Africa [MEA] and South America). The report profiles the 10 most promising players in the NAS market.
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