Consumer network attached storage market

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Coherent market insightsMarket Research and
Business Consulting Services
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Market Overview

• Network-attached storage (NAS) is computer data
  storage connected to a computer network, in order
  to provide data access to diverse group of
  clients. NAS facilitates consumers to share media
  files between several computers and portable
  entertainment devices. NAS typically servers
  files by its software, hardware or configuration.
  Consumers around the globe are implementing
  network attached storage (NAS) that can help
  businesses and consumers to attain operational
  efficiencies and minimize the cost of storage.
  All these objectives can be achieved with network
  attached storage (NAS).

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• The Global Consumer Network Attached Storage
  (NAS) Market, by End-User (Residential, Small
  Medium Enterprises and Large Enterprises), By
  Design (Rackmount and Standalone) and by
  Geography (North America, Europe, Asia Pacific,
  and Latin America, Middle East Africa) - Global
  Forecast to 2027, is expected grow at a CAGR of
  9.5 during the forecast period (2019-2027), as
  highlighted in a report published by Coherent
  Market Insights.

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Market Dynamics- Drivers

• Incapability of conventional storage facilities
  to handle a large amount of data is expected to
  drive growth of the global consumer network
  attached storage (NAS) market during the forecast
  period
• The conventional modes of storage of critical
  information and data have become inefficient for
  current demands. Moreover, fast access to vast
  amounts of data is another major challenge in
  this scenario. Conventional small computer
  systems interface (SCSI) technology utilizes
  parallel cabling, which reduces speed, distance,
  and limits the number of attached storage
  devices. Furthermore, there has been a
  significant shift from server-centric to
  data-centric models, thus efficient access to
  shared data resources has become essential.
  Rising growth of information that requires
  storage, management, maintenance, and retrieval
  has compelled consumers to make storage decisions
  separate from server decisions. Hence, these
  factors are expected to drive the market growth
  over the forecast period.

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• Growing demand for efficient and easy backup
  operations is expected to propel the global
  consumer network attached storage (NAS) market
  over the forecast period
• Incorporation of high performance backup and
  restore capability and device sharing, numerous
  issues regarding performance have been improved.
  These issues are namely extended downtime
  periods, shrinking backup windows, and
  performance degradation. However, increase in
  backup operation competence with server-less
  backup offered by NAS architecture is expected to
  propel the global consumer network attached
  storage (NAS) market growth over the forecast
  period.     

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• The North America market for global Consumer
  Network Attached Storage (NAS) market is
  estimated to account for 30.3 share in terms of
  value in 2019.

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Market Dynamics- Restraints

• Growing adoption of cloud-based storage devices
  is various emerging economies is expected to
  restrain growth of the global consumer network
  attached storage (NAS) market over the forecast
  period
• Previously, servers for storage purposes were
  procured at different IT infrastructure
  components by different groups within the IT
  department and under different parts of the IT
  budget. However, incorporation of cloud-based
  services has changed the overall approach.
  Furthermore, adoption of virtualization technique
  in storage and server has resulted in significant
  shift in procurement and deployment of data
  center infrastructure. E Enterprises are shifting
  from purchasing separate network attached storage
  systems and adopting cloud storage for
  noncritical data. These factors are expected to
  hinder the market growth in the near future.

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• High cost and complexity related to NAS are
  expected to hinder the global consumer network
  attached storage (NAS) market growth over the
  forecast period
• Although NAS provides highly sophisticated
  services, it is relatively expensive and
  complicated proprietary at the same time. NAS
  systems are considered to be virtually
  failure-proof though major performance failures
  and outages in the cloud in the recent past have
  been related to failures of significant
  degradation or NAS in system performance.
  Moreover, high cost and complicated nature of NAS
  is compelling end user to shift towards cloud for
  high-performance and reliable storage. This, in
  turn, is expected to hamper the market growth
  over the forecast period.
• .

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Market Opportunities

• Growing adoption of NAS systems in small- and
  mid-sized enterprises (SME) is major market
  opportunity
• Increasing use of network attached storage system
  by small- and mid-sized enterprises is expected
  to present lucrative growth opportunity for
  market players. The adoption of NAS in small- and
  mid-sized enterprises is supported by various
  benefits offered NAS such as shared storage,
  flexibility to share capacity between numerous
  hosts, and centralized control. This has
  compelled NAS vendors to constantly focus on
  easy-to-use and cost-effective products for SMEs.
  This, in turn, is expected to offer significant
  growth opportunity for market players.

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• High growth of Internet of Things (IoT) and big
  data market is expected to provide excellent
  business opportunity
• Integration of Internet of Things and big has
  increased the adoption of NAS system. Big data
  offers systematical and analytical information
  from complex data sets. Moreover, IoT provides
  interrelated computing devices, which in turn, is
  boost the adoption of NAS in various end-use
  industries. Hence, integration of IoT and big
  data are presenting lucrative business
  opportunities for market players.

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• Tie-ups with e-commerce companies are expected to
  offer significant business opportunity

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Market Trends

• Penetration of e-commerce websites is increasing
  adoption of NAS
• Growing adoption of online channels among
  consumers, has increased penetration of
  e-commerce websites in the recent past. These
  e-commerce applications are highly
  resource-intensive due to the type of requests
  that are processed simultaneously per second.
  Thousands of customers visit, place orders, and
  pay, per second, and all this information is
  required to be stored in the database for later
  retrieval. Furthermore, NASs are being used for
  their high-performance and fast I/O
  characteristics, in order to store information
  about high traffic databases.

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• Advent of unified storage systems is another
  major trend in the market
• Advent and adoption of hybrid NAS-SAN solutions
  has become a major trend in the market. These
  solutions facilitate enterprises to merge
  file-based and block data on a common way.
  Unified storage systems support file, along with
  block-based protocols such as FC and NFS, and HDD
  and flash-based storage drives. Architecture of
  unified storage systems is relatively more
  complicated as compared to individual
  implementations though it is expected to be more
  simplified in the near future, in order to meet
  increasing demand from enterprises. These
  developments are expected to reduce the
  dependency of enterprises on a single
  architecture for their dynamic requirements.
            

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Segment Information

• In Global Consumer Network Attached Storage (NAS)
  Market, by design segment, the standalone
  sub-segment dominated the global market in 2019,
  accounting for 62.9 share in terms of value,
  followed by Racmount...

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Value Chain Analysis
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Competitive Section

• Key companies operating in the global consumer
  network attached storage (NAS) market are D-Link
  Corporation, Seagate Technology Public Limited
  Company, Synology Inc., Netgear, Inc., Drobo
  Inc., Western Digital Corporation, QNAP Systems,
  Inc., NEC Corporation, ASUSTOR Inc., and EMC
  Corporation.

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Key Developments

• Key companies in the market are focused on
  partnerships and collaborations, in order to gain
  competitive edge in the market. For instance, in
  January 2017, QNAP Systems Inc. partnered with
  IFTTT, thereby releasing IFTTT agent for QNAP
  NAS, which allows users to create NAS specific
  applets that enable automation and also enhances
  efficiency of its products.
• Key companies in the market are involved in
  product launches, in order to enhance their
  product portfolio. For instance, in January 2017,
  Synology Inc. launched various NAS products such
  as RackStation RS18017xs and RS4017xs in order
  to enhance its product offerings and expand
  customer base. These products offer features such
  as faster data processing speeds and flexible
  scalability.   

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