About Network Storage Devices
The growing need for storage devices in order to store and secure huge amounts of data will help to boost global network storage device. The network storage device is also known as Network Attach Storage (NAS). Network storage devices are referred to as storage devices which accessed over the computer network, rather than to connect PC directly. Additionally, it is a computer data storage that is connected to a computer network and delivers access to various types of data to a broad group of customers and permits them to recover files from a central disk capacity. Rising dependency in IT and BFSI sector will act as a major driver of network storage device market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 11.9% |
The market is highly competitive due to the presence of several prominent vendors within the industry. Some of the prominent vendors are adopting some organic and inorganic strategies such as merger, acquisition, partnership, product launches in order to gain competitive advantage. Moreover, some of the leading vendors are focusing on technological advancements in order to offer products as per the market necessities.The Players having a strong hold in the market are HP, Synology Inc., Lenovo Group Ltd., 0QNAP Systems, Inc., and IBM. Analyst at AMA Research estimates that Asian and United States Players will contribute the maximum growth to Global Network Storage Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hewlett-Packard Company (HP) (United States), Synology Inc. (United States), Lenovo Group Ltd. (Hong Kong), QNAP Systems, Inc. (Taiwan), International Business Machines Corporation (IBM) (United States), H3C Technologies Co., Limited (China), Western Digital Corporation (United States), Netgear Inc. (United States), Thecus Technology Corporation (Taiwan) and Seagate Technology PLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are EMC Corp. (United States), Melco Holdings Inc. (Buffalo) (Japan) and Hangzhou Hikvision Digital Technology Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Network Storage Devices market by Type (Analytics and Hadoop), Application (Industrial Sector, IT, Data Processing Component, Government and Defense and Cloud Processing Component) and Region.
On the basis of geography, the market of Network Storage Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Deployment, the sub-segment i.e. On-premise will boost the Network Storage Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Online will boost the Network Storage Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Usage of Network Storage Devices in Industrial and Commercial Applications and Network Storage Devices Provide Real Time Data Update, Addition and Deletion
Market Growth Drivers:
Growing Adoption of Cloud Computing across the Globe and Rising Internet Compatibility in the Developing Countries will increase the demand
Challenges:
Expensive Network Storage Devices and Requirement of Skilled Workforce and Lack of Awareness about the IoT Enabled applications from Underdeveloped Regions
Restraints:
Stringent Cyber Security Regulations Restricting the Business Growth and Higher Initial Investments as well as Post Purchase Maintenance Services
Opportunities:
Centralized Data Storage with improved Data Security, Data Reliability and Validity and Growing IT Infrastructure in developing Economies favoring global business Growth
Market Leaders and their expansionary development strategies
In January 2024, Ugreen, a leading brand in consumer electronics, is announcing a new collaboration with Intel during the unveiling of the new UGREEN NASync Network Attached Storage devices on the first day of 2024 CES. This development signifies a substantial leap forward. Empowered by Intel® processors, the new product lineup come with storage efficiency, and automated smart decision-making ability. With AI becoming more integrated into daily life, UGREEN and Intel are collaborating on more easy-to-use features, making daily work and life more convenient.
In November 2023, HUAWEI CONNECT 2023 in Paris, Yang Chaobin, Director of the Board and President of ICT Products & Solutions at Huawei, unveiled two new all-flash storage products, the OceanStor Pacific 9920 and OceanStor Dorado 2100, to promote the industry vision of All Flash for All Scenarios. The products have been designed to help customers build more efficient and reliable data centers.
Key Target Audience
Network Storage Devices Manufacturers, Network Storage Devices Distributors and Suppliers, International Traders, Telecommunication Industry Associations, Research and Development Firms, Government Regulators and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.