The Global Consumer Network Attached Storage Market size is expected to reach $11.5 billion by 2030, rising at a market growth of 12.2% CAGR during the forecast period.
1-bay NAS systems are often more affordable than their multi-bay counterparts, making them an attractive entry-level option for consumers new to NAS technology or with budget constraints. Therefore, the 1-bay segment captured $927.9 million revenue in the market in 2022. Consumers looking for a simple yet effective solution for media streaming and entertainment needs find the 1-bay NAS appealing. These devices enhance the home entertainment experience by storing and streaming multimedia content to smart TVs, gaming consoles, and other media players. These aspects will drive the demand in the segment. Some of the factors impacting on the market are data storage and backup needs, growing concerns about data security and privacy, and high upfront costs of consumer network attached storage.
The digital age has led to a tremendous increase in the creation and consumption of digital content. Consumers generate and accumulate vast amounts of data in the form of photos, videos, music, and documents. Consumers recognize the importance of protecting their digital assets, including irreplaceable photos and videos. NAS solutions provide a centralized and automated method for backing up this data, protecting it from unforeseen events such as hardware malfunctions, accidental deletion, and data loss. In addition, consumer NAS provides a centralized storage repository within the home network. Additionally, consumer NAS systems enable users to store their data locally within their network. This contrasts with cloud storage services, where data is stored on external servers. Local storage gives users direct control over their data and reduces the reliance on external entities. Storing data on a consumer NAS device helps maintain sensitive information's privacy and confidentiality. Users have the assurance that their personal and sensitive data is kept within the confines of their home network, reducing the exposure to external threats. In addition, with consumer NAS, users retain ownership and control over their data. These factors will drive the demand for these in the coming years.
However, Advanced NAS systems often have more powerful processors, additional RAM, and multiple drive bays. The hardware cost can be a substantial portion of the upfront investment. Higher-end NAS models may also include hardware encryption, faster processors, and more extensive connectivity options, contributing to increased costs. Storage drives, particularly large-capacity and high-performance ones, can be expensive. When setting up a NAS, users need to purchase one or more hard disk drives (HDDs) or solid-state drives (SSDs) to meet their storage requirements. The cost per terabyte of storage can influence the overall expense significantly. As a result, the market will witness decreased demand in the upcoming years.
On the basis of mount type, the market is divided into standalone and rackmount. In 2022, the rackmount segment witnessed a substantial revenue share in the market. Consumers in professional settings, such as home offices and small businesses, often require robust storage solutions. Rackmount NAS systems cater to these environments by providing higher storage capacities, advanced features, and a more organized and space-efficient storage infrastructure. As a result, there will be increased growth in the segment.
Based on storage type, the market is divided into hard disk drive (HDD), flash storage, and hybrid. The hard disk drive (HDD) segment recorded the maximum revenue share in the market in 2022. HDDs remain unparalleled when it comes to offering high storage capacities. In the market, where users often require terabytes of storage for multimedia content, documents, and backups, HDDs provide an economical solution to meet these expansive storage needs. These factors will help in the expansion of the segment.
Based on storage capacity, the market is segmented into less than 1 TB, 1 TB to 20 TB, and more than 20 TB. In 2022, the more than 20 TB segment garnered a significant revenue share in the market. The prevalence of 4K and Ultra HD video content has significantly increased file sizes. Consumers engaged in recording and editing high-quality videos seek NAS solutions with capacities exceeding 20 TB to store and manage these resource-intensive files effectively. Owing to these aspects, the segment will witness increased demand in the coming years.
On the basis of deployment, the market is divided into on-premise, cloud/remote, and others. The on-premise segment recorded the maximum revenue share in the market in 2022. Users are increasingly concerned about the security and privacy of their data. On-premise NAS solutions provide control and security that appeal to individuals and businesses. Storing data locally reduces reliance on external cloud services and minimizes exposure to potential cybersecurity threats. These aspects will drive the demand in the segment.
Based on end-user, the market is divided into residential and business. In 2022, the residential segment witnessed a substantial revenue share in the market. The demand for home entertainment, including streaming services, digital music libraries, and personal video collections, has surged. Residential NAS systems provide a centralized and efficient way to store, organize, and stream multimedia content to various devices within the home, such as smart TVs, gaming consoles, and media players. These factors will pose lucrative growth prospects for the segment.
Based on design, the market is segmented into 1-bay, 2-bays, 4-bays, 5-bays, 6-bays, and others. The 4-bays segment held the largest revenue share in the market in 2022. The 4-bays configuration offers a balance between storage capacity and scalability. Users have the flexibility to start with a lower number of drives and expand their storage capacity over time as their needs grow. This scalability makes 4-bays NAS systems appealing to a broad range of consumers. These aspects will help in the expansion of the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 4.6 Billion |
| Market size forecast in 2030 | USD 11.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 12.2% from 2023 to 2030 |
| Number of Pages | 393 |
| Number of Tables | 630 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Mount Type, Storage Type, Storage Capacity, Deployment, End-user, Design, Region |
| Country scope |
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| Companies Included | ASUSTeK Computer Inc., D-link Corporation, Dell Technologies, Inc., NEC Corporation, Netgear, Inc., QNAP Systems, Inc., Seagate Technology LLC, Synology Inc., Western Digital Corporation, and Zyxel Communications Corp. |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired a considerable revenue share in the market. Smart home technology adoption is increasing in Asia-Pacific nations. Consumer NAS systems play a crucial role in smart homes by serving as centralized storage hubs for multimedia content, security footage, and other data generated by connected devices, contributing to the increased demand. These aspects will boost the demand in the segment.
Free Valuable Insights: Global Consumer Network Attached Storage Market size to reach USD 11.5 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ASUSTeK Computer Inc., D-link Corporation, Dell Technologies, Inc., NEC Corporation, Netgear, Inc., QNAP Systems, Inc., Seagate Technology LLC, Synology Inc., Western Digital Corporation, and Zyxel Communications Corp.
By Mount Type
By Storage Type
By Storage Capacity
By Deployment
By End-user
By Design
By Geography
The Market size is projected to reach USD $11.5 billion by 2030.
Growing concerns about data security and privacy are driving the Market in coming years, however, High upfront costs of consumer network attached storage restraints the growth of the Market.
ASUSTeK Computer Inc., D-link Corporation, Dell Technologies, Inc., NEC Corporation, Netgear, Inc., QNAP Systems, Inc., Seagate Technology LLC, Synology Inc., Western Digital Corporation, and Zyxel Communications Corp.
The expected CAGR of this Market is 12.2% from 2023 to 2030.
The Standalone segment is capturing the maximum revenue in the Market by Mount Type in 2022; thereby, achieving a market value of $7.4 billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.7 billion by 2030.
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