Network Attached Storage (NAS) Market Size, Share, Opportunities, And Trends By Type (High End Or Enterprise, Midmarket, Low End Or Desktop, Small Business NAS), By Storage Solution (Scale-Out NAS, Scale-Up NAS), By End-User (BFSI, Consumer & Retail, Government & Public Sector, IT & Telecom, Others), And By Geography - Forecasts From 2024 To 2029

The Network Attached Storage (NAS) market is poised to grow from US$36.820 billion in 2024 to US$68.139 billion in 2029 at a CAGR of 13.10%.

Network-attached storage (NAS) is a device that provides file storage that can be used by multiple users, client devices, and LAN (Local Area Network) users to access the shared and stored data using an ethernet connection. NAS devices are configured and managed with a browser-based utility, and they reside on LAN and independent network nodes defined by different IP addresses.

NAS is easy to access, has high capacity, is cost-effective, and supports cloud tasks, archiving, and backup. The devices are connected to a wireless router distributed across networks, which provides easy access to desktop or mobile files. They are utilized by small businesses, home offices, and large enterprises as they provide low-cost storage solutions and act as private cloud storage in small businesses.

Network Attached Storage (NAS) Market Drivers:

• Booming internet usage and technological developments propel the network-attached storage market growth.

Network-attached storage is critical for businesses to store, transfer, and receive data easily, securely, and cost-effectively. The booming internet penetration has increased the scope of usage for advanced technologies such as cloud computing and storage, artificial intelligence, and machine learning. This growth is expected to contribute to the demand for the network-attached storage market as scalable devices. According to the International Telecommunication Union, in 2023, nearly 67% of the global population was internet users, and the offline population steadily declined to 2.6 billion in the same years.

Most large enterprises require NAS to boost productivity, minimize IT costs, and provide more storage when needed. In recent times, scalable devices have been designed to link multiple networks to attached storage devices to scale out clusters and achieve high storage capacity. Dell EMC, Microsoft, VMware, NetApp, and others use network file systems (NFS) that support critical workloads, such as databases, virtual desktop infrastructure, and other applications.

• Growing applicability in end-users has propelled the market growth.

Network-attached storage’s storage-based architecture and scalable nature make data accessibility easier. Owing to its high-performance feature, such a system applies to various industry verticals such as BFSI, government & public sector, IT & telecommunication, and retail. The bolstering growth in such end-users has increased their overall data volume, which must be stashed in a secured file-based architecture operating on a central storage system.  

The growing landscape of such major end-users, coupled with bolstering growth in cloud computing adoption in data management, has provided new scope for the future market expansion of network-attached storage. AI adoption is also rising, which is expected to be an additional driving factor.

• Booming small business establishments will accelerate the market expansion.

Small firms, compared to large ones, have various data-related needs such as lower cost options, growth capability, ease of operation, and data backup. NAS fulfills all such needs as it is based on a central storage system from which the connected devices or end-users can easily retrieve data. Moreover, its high flexibility and scale-out feature enable users to create additional storage.

The growing strength of small enterprises in major economies, followed by growing digitization, has provided new growth prospects for network-attached storage. For instance, according to the World Association of Small and Medium Enterprises, by 2028, MSMEs will account for 33% of the country’s GDP. As per the U.S. Small Business Administration, small-size firms accounted for 99.9% of the country’s overall business scale.

Network Attached Storage (NAS) Market Geographical Outlook

• During the forecast period, North America is expected to account for a significant market share.

The NAS market is geographically divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The North American region is poised for constant growth fuelled by favorable investments in hyperscale data centers, growing small, medium, and large enterprise strength, and the need for scaling out facilities for stacking large data volumes. Moreover, the growing cyber and unauthorized data thefts have further bolstered the demand for a secured framework for data piling and management.

According to CISA, 65% of Americans received scam emails and text messages on their computers and smartphones due to malware software's unethical installation. Furthermore, internet usage increases the requirement to store, share, and receive huge amounts of data with precision and accuracy. According to the GSMA’s “Mobile Economy North America 2023 Outlook,” mobile internet penetration stood at 80% in the USA and Canada in 2022. As per the same source, 5G adoption will more than double to 447 million by 2030.

Network Attached Storage (NAS) Market Key Developments

• In March 2024, IBM collaborated with Komprise Enterprise to develop cost-effective enterprise-grade NAS solutions that also fulfill regulatory and compliance needs. The collaboration would establish a singular platform for unstructured data management.
• In January 2024, Seagate Technology Holdings Plc launched the “Seagate IronWolf ® Pro 24 TB” hard drive, which addresses the evolving demand for enterprise NAS. The drives use time-limited error recovery (TLER) and dual plane balancing to provide best-in-class performance in a multi-bay system.
• In March 2023, Buffalo Americas launched the “TeraStation 71210RH series NAS”. It provides robust scalability and server-grade components to businesses that require high-quality enterprise data storage solutions.
• In December 2022, QSAN Technology Inc. launched its next generation of network-attached storage solutions, “XCubeNAS 8100” and “5100 Series.” These solutions are designed to offer a seamless experience and uncompromising server-grade performance. They also meet the multi-level security requirements of modern enterprises.
• In April 2022, Synology partnered with Redington MEA, which specializes in providing supply chain solutions for end-to-end IT and digital lifestyle products. Through collaboration, Synology could offer its NAS solutions to business entities of any size across the MEA region.

The Network Attached Storage (NAS) market is segmented and analyzed as follows:

• By Type
  • High-End NAS
  • Midmarket NAS
  • Small Business NAS
• By Storage Solution
  • Scale-Out NAS
  • Scale-Up NAS
• By End-User
  • BFSI
  • Consumer Retail
  • Government & Public Sector
  • IT & Telecom
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Taiwan
    • Others