Consumer Network Attached Storage Nas Market Global Demand and Regional Analysis 2033

Posted by Ashish on January 19th, 2023

Consumer Network Attached Storage Nas Market

The use of enhanced storage choices, particularly for the preservation of vital consumer-centric data, has been made possible by the inefficiency of conventional storage methods. Enclosing such data storage devices into a network has become necessary in order to handle higher amounts of data transference. Individuals and business owners are increasingly attracted to set up network attached storage (NAS) servers as opposed to single computer storage.

Customers find it more comfortable to access such servers remotely, particularly when maximising operational effectiveness and reducing storage costs are requirements. According to a recent analysis by Persistence Market Research, the global market for consumer network attached storage would be worth US$ 4,088.7 Mn by the end of 2024. The study examines the potential for the adoption of such consumer-based NAS systems

Apropos the report, titled "Consumer Network Attached Storage (NAS) Market: Global Industry Analysis and Forecast, 2016-2024," the global consumer NAS market is presently valued a little over US$ 1,545 Mn, and will exhibit a healthy 11.6% CAGR during the forecast period.

Factors such as rising demand for speedy transference of bulk data, growing need for efficient data backup plans, and increasing implementation of cost-effective storage options have been identified as the key drivers for the global consumer network attached storage market. Nevertheless, a steadfast adoption of consumer NAS systems across the globe is facing challenges such as competitive advantage of cloud-based storage services, and complex nature of expensive consumer network attached storage systems.

Residential and small and medium enterprises segments are expected to lead the global consumer network attached storage market throughout the forecast period

Growing popularity of network attached storage to attain cost-effective solutions for data storage and increase in adoption of network attached storage systems by small and medium enterprises is the major factor likely to result in high revenue growth in the small and medium enterprises end user segment during the predicted period. Increasing utilization of network attached storage systems is another potential driver for small and medium enterprises, especially in emerging economies.

This adoption of network attached storage systems among smaller organizations is mainly driven by the benefits offered by network attached storage systems such as shared storage, centralized control, and flexibility to share capacity between multiple hosts.

Deployment of network attached storage systems can facilitate the reduction in total cost of ownership for enterprises and small business owners. Management of a centralized storage location is more cost-effective than managing traditional client/server storage models. Additionally, network attached storage system architecture eliminates the possibility of disk space going unused or disk failure, as storage devices are now consolidated. This further lowers the overall storage costs.

Benefits such as lower cost of ownership and a higher Return on Information Management offered by network attached storage devices are expected to further drive the growth of the small and medium enterprises segment. With the integration of high performance backup and restore capability and device sharing, several performance issues can be alleviated.

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