The Latin America, Middle East and Africa Network Attached Storage (NAS) Market would witness market growth of 20.3% CAGR during the forecast period (2020-2026). With the digital transformation across industries, data has become an extremely important asset. Therefore, the need for data storage and backup from the end-use industries has been increasing. Network attached storage (NAS) mainly offers centralized and shared storage for digital files. Many hard drives are integrated into one system. The banking & financial storage is responsible for significant monetary transactions and data security is a primary concern for the BFSI industry.
NAS devices provide safer storage of data with scalability and cost-efficient options. This increases business productivity and enhances operational efficiencies of the BFSI industry. The systems also help in the protection and backup of data and files pertinent to the branch with less power consumption. The additional backup potential is also provided by the drives. The majority of the drives contain various disks which are known as RAID configuration. Data duplication function across many hard drives is enabled by a redundant array of independent disks (RAID). These abilities can fulfil the need for data backup and redundancy, which is anticipated to augment the global market size.
The NAS market is anticipated to witness a considerable growth rate due to the rising demand to speed up the performance of the system. These systems can be connected directly to the router or Wi-Fi network and help the storage needs of the customers of the enterprise. Enterprises and individuals depend upon these to naturally backup their business-critical data and get quick access to data. As enterprising are observing a surge in the volume of data, the demand for NAS systems has expanded significantly to fulfil the quickly evolving network demands like superior scalability and performance.
Moreover, a rise in the utilization of Big Data analytics and data mining applications is another factor propelling the market growth. With the increasing application of data analytics, big data plays a significant role in every enterprise. To manage huge amounts of data generated by enterprises, a similar large scale-up storage system needs to be installed to enable the needed throughout capacity. All these factors are expected to affect market growth positively.
Based on Solutions, the market is segmented into Hardware and Software. Based on Deployment Type, the market is segmented into On-premises and Cloud & Hybrid. Based on Design, the market is segmented into 1Bay to 8 Bays, 8 Bays to 12 Bays, 12 Bays to 20 Bays and Others. Based on Storage Solution, the market is segmented into Scale-up NAS and Scale-out NAS. Based on Industry Vertical, the market is segmented into BFSI, Energy & Utilities, Healthcare, Retail & eCommerce, Government & Defense, IT & Telecommunication, Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Network Attached Storage (NAS) Market in LAMEA is expected to register a CAGR of 20.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dell Technologies, Inc., Hitachi, Ltd., NetApp, Inc., Hewlett Packard Enterprise Company, IBM Corporation, Netgear, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Cisco Systems, Inc., Microsoft Corporation and Western Digital Corporation.
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By Deployment Type
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Companies Profiled
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