Consumer Network Attached Storage (NaS) Market

Consumer Network Attached Storage (NaS) Market Outlook (2024 to 2034)

The global consumer network attached storage (NaS) market value is estimated to total US$ 7,483.8 million in 2024. Projections indicate a robust expansion is rising at a 9.4% CAGR during the forecast period. By 2034, the consumer NAS market size is set to reach US$ 18,459.7 million. This growth is underpinned by various factors, including:

• Growing demand for cost-effective data storage devices from residential and small and medium enterprises
• Rising digital transformation
• High data generation is due to increasing internet penetration and growing usage of mobile computing devices
• Growth in digital content consumption, including HD videos and images
• High adoption of NAS devices by game enthusiasts
• Escalating need for centralized storage for large media libraries
• Rising data security and privacy concerns
• Increasing adoption of AI, ML, and data analytics
• Surging need for next-generation network (NGN) equipment and reduction in consumer NAS prices
• Usage of NAS in residential data storage applications

Key Consumer Network Attached Storage (NAS) Market Trends include:

• Surging penetration of Internet of Things (IoT) devices
• Growing trend of remote working
• Incorporation of advanced security features like malware protection, encryption, and secure access protocols in consumer NAS devices to safeguard stored data
• Increasing popularity of media streaming services globally
• Rising interest in personal NAS devices due to their potential benefits

Consumer NAS devices are gaining immense traction globally. This is due to the several benefits of using NAS systems. For instance, these storage devices are more reliable and offer better security than external hard drives.

Amid rapid digitalization, people are seeking ways to access their data from multiple devices. This is encouraging the adoption of consumer NAS systems as they allow users to centralize and access their data securely from different devices over a network.

NAS systems are becoming a convenient and efficient way to store and manage data created by smart home devices and other technologies. Hence, the growing adoption of smart homes globally will uplift demand for consumer network-attached storage devices.

Small organizations are increasingly employing consumer network attached storage (NaS) systems to store and manage their data. This can be attributed to several benefits of NAS systems: centralized control, shared storage, and flexibility to share capacity between multiple hosts.

Top companies are constantly innovating to introduce new network-attached storage for consumers. They are focusing on enhancing the user experience by developing intuitive interfaces and user-friendly software. They are also incorporating novel technologies in their solutions to enhance their performance.

• For instance, in January 2023, QNAP Systems, Inc. launched cutting-edge NAS solutions by employing a new storage interface and technologies.

Advancements in memory and processor technologies are allowing companies to improve the performance of consumer NAS devices. Further, several companies are also integrating cloud services to enable users to seamlessly synchronize and back up their crucial data to cloud storage.

Report Attributes	Details
Estimated Global Consumer NAS Industry Value (2024E)	US$ 7,483.8 million
Projected Market Value (2034F)	US$ 18,459.7 million
Global Market Growth Rate (2024 to 2034)	9.4% CAGR
Standalone NAS Segment Growth Rate (2024 to 2034)	10.5%
Large Enterprise Segment Growth Rate (2024 to 2034)	9.9%
North America Market Share (2024)	29.1%
East Asia Market Share (2024)	36.5%
Key Companies Profiled	Seagate Technology Public Limited Company NEC Corporation ASUSTOR INC. Western Digital Corporation D-Link Corporation Drobo Inc. EMC Corporation Synology Inc. Netgear, Inc.

Which Factors are Expected to Propel Demand for Consumer NAS Devices?

“Data Explosion Acting as a Catalyst Propelling Consumer NAS Device Demand”

In recent years, there has been a significant increase in data generation globally due to digital transformation, internet penetration, and the high adoption of mobiles. This, in turn, has created a demand for consumer network attached storage devices, and the trend is expected to escalate further through 2034.

Another key factor expected to boost the target market is the rising adoption of hybrid NAS solutions. These hybrid storage solutions allow companies to share and manage their critical data efficiently.

“Growing Popularity of Smart Homes and Media Streaming Services to Bolster Sales”

People, especially in nations like the United States and China, are increasingly using smart home devices and the Internet of Things (IoT). This is generating demand for centralized storage solutions, including NAS devices, to store and manage data generated by smart home devices.

Consumers also use NAS devices to store and stream media content in their homes. Hence, the rising popularity of media streaming services globally and the need for centralized storage will further boost sales of consumer network attached storage (NaS) devices over the forecast period.

Which Factors Present Challenges to the Expansion of the Consumer NAS Market?

“Limited Scalability and Low Awareness about NAS Capabilities Limits Market Expansion”

Despite a robust growth trajectory, there are certain factors that might reduce product adoption and limit market expansion. One significant factor hindering market growth is the low awareness of the capabilities of NAS.

People in several regions are unaware of the advantages and functionalities offered by NAS systems compared to traditional storage solutions. This is expected to limit the expansion of the global consumer network storage (NaS) industry during the assessment period.

Limited capacity is another crucial factor reducing the adoption of consumer NAS devices to a large extent. These systems generally have a fixed storage capacity, and scaling up often requires purchasing a new device. This can be both expensive and inconvenient.

Several businesses are shifting their preference towards direct-attached storage (DAS) and storage area network (SAN) solutions. This will restrain the growth of the consumer network attached storage market.

Country-wise Insights

A close contest is being observed between North America and East Asia when it comes to dominating the global market. However, ongoing digitalization and technological advancements in countries like China, Korea, and Japan will likely help East Asia gain a competitive edge in the global consumer NAS market.

The East Asia consumer NAS industry is set to witness a robust CAGR of 10.0% through 2034. It will hold a revenue share of about 38.4% by the end of 2034. China is forecast to remain the most dominant market in East Asia, while Japan is predicted to witness a higher CAGR.

The North America consumer network attached storage (NaS) market will likely advance at a CAGR of 9.6% through 2034. It is forecast to hold a global market share of 29.1% by 2034, with the United States leading from the forefront.

What Makes China a Hotbed for Consumer NAS Device Manufacturers?

“Rising Data Generation due to Digital Transformation Making China a Lucrative Market”

China is anticipated to dominate both the East Asia and global consumer NAS markets. It is expected to attain a valuation of US$ 4,138.3 million in 2034. Over the forecast period, demand for consumer network attached storage devices in China is set to expand at a 9.9% CAGR, driven by factors like:

• Rapid penetration of digitalization
• Increasing data generation
• Growing awareness of data security and privacy
• Rising need for cost-effective storage solutions
• Constant technological advancements in NAS hardware and software
• Increasing internet penetration
• Booming e-commerce sector
• Growing gaming and entertainment culture
• A rising number of micro-small and medium-sized enterprises

China leads from the forefront when it comes to digitalization, internet penetration, and the adoption of mobile devices & IoT technologies. These developments, in turn, are generating enormous amounts of data that require reliable storage solutions. This is expected to drive demand for consumer NAS devices in China through 2034.

Consumer NAS devices offer centralized, readily accessible storage for multiple devices. They are increasingly deployed in homes and small and medium-sized enterprises.

Rising personal digital assets like high-resolution videos, music, and photos are set to create a need for extensive storage options like NAS devices. Similarly, the growing popularity of online gaming and streaming services will improve China’s consumer network attached storage market share.

Why is Demand for Consumer NAS Solutions Rising in the United States?

“Growing Adoption of Smart Technologies Fueling Demand in the United States”

The size of the United States consumer network attached storage market is projected to reach US$ 3,948.3 million by 2034. Overall adoption of consumer NAS devices in the United States is poised to grow at a 9.9% CAGR during the assessment period.

Several factors are expected to drive the growth of the consumer-attached storage market in the United States. These include:

• Growing demand for robust storage solutions
• Rising consumption of high-quality media content, including high-resolution images and 4K videos
• High data generation due to digital transformation
• Surging popularity of connected homes, along with high adoption of smart home devices
• Escalating work-from-home trend
• Growing awareness about the limitations of cloud storage solutions, including privacy concerns
• Increasing number of tech-savvy users prefer NAS devices for their flexibility and control
• Rising interest in personal data storage devices

The United States is witnessing high adoption of the Internet of Things (IoT) and smart home devices. This is expected to create high demand for centralized storage solutions, including NAS devices, thereby driving market growth.

NAS devices are becoming ideal solutions for efficiently and conveniently storing and managing data generated by smart home devices. They tend to act as a central hub for this data. Similarly, growing storage needs created by remote work and online collaboration will foster sales growth in the United States through 2034.

Category-wise Insights in the Consumer Network Attached Storage (NaS) Market Analysis

The below potion offers deeper insights into leading segments and their respective shares in the consumer NAS market. This information can help companies frame their strategies accordingly and invest in demanding solutions.

• Based on mount type, the standalone consumer network attached storage segment is set to lead the market, holding a value share of 82.2% in 2034.
• Large enterprises are anticipated to remain the leading end users of standalone consumer network attached storage solutions, exhibiting a CAGR of 9.9%.

What Makes Standalone NAS Solutions Popular?

“Compactness and Cost-effectiveness Making Standalone NAS Devices Popular”

As per the latest analysis, demand in the market will continue to remain high for standalone network attached storage (NaS) solutions. This is attributable to their multiple advantages, including compactness, cost-effectiveness, and less noise.

The standalone segment is estimated to grow at an impressive CAGR of 10.5% during the forecast period. It will likely attain a valuation of US$ 15,173.9 million by 2034, contributing a revenue share of 82.2%.

Standalone consumer network attached storage devices are generally smaller and compact than rackmount NAS devices. They are widely used in the residential sector. Their cost-effectiveness also makes them ideal for budget-minded users.

Another feature that makes standalone NAS devices popular is their quiet nature. These NAS solutions produce significantly less noise compared to rackmount variants. Thus, the growing adoption of standalone NAS solutions, especially in homes, is expected to boost the growth of the target segment.

Who is the Leading End-user of Consumer NAS Devices?

“Large Enterprises to Remain Leading End-users of Consumer NAS Solutions”

The adoption of consumer NAS devices in large enterprises is set to increase with a CAGR of 9.9% during the forecast period. By 2034, the target segment is projected to hold a prominent market share of 53.6%.

Several factors are encouraging the deployment of consumer network attached storage solutions in large enterprises. These include increasing volumes of unstructured data in large enterprises and the growing need for cost-effective and dependable data management solutions.

Although large enterprises rely on robust and scalable storage solutions, including SAN (storage area network), they also utilize consumer NAS devices for several applications. For instance, these cost-effective solutions are used to provide local storage and file sharing for small branch offices with limited IT resources.

Consumer NAS devices are also becoming an ideal option for storage backups of less critical data as well as for archiving older projects. Thus, growing adoption of consumer NAS solutions across large enterprises will boost the target segment.

Competitive Landscape

Top consumer network attached storage (NaS) device manufacturers and suppliers listed in the report include Seagate Technology Public Limited Company, NEC Corporation, ASUSTOR INC., Western Digital Corporation, D-Link Corporation, Drobo Inc., EMC Corporation, Synology Inc., and Netgear, Inc. among others.

Key consumer network attached storage (NaS) companies are focusing on launching new solutions to meet the ever-evolving requirements of end users. They are also inclined towards implementing strategies like partnerships, acquisitions, and collaborations to boost their revenue and expand their global footprint.

Recent Consumer-grade NAS System Market Developments:

• In October 2022, QNAP introduced TVS-hx74 ZFS NAS featuring 12th Gen Intel Core multi-thread processors. It is specifically designed for virtualization applications.
• In June 2022, StorCentric, a leading provider of secure data management solutions, introduced Nexsan EZ-NAS. This new network attached storage is ideal for small and medium-sized businesses as well as large enterprises’ edge developments.
• In March 2023, two new Diskstations, including DS423 and DS423+ were introduced by Synology. The novel all-in-one storage solutions are designed for home offices and small businesses.
• In 2023, ASUSTOR introduced the new Lockerstor Gen2 series of NAS devices.

Segmentation of Consumer Network Attached Storage Market Report

• By Design :

  • 1-Bay
  • 2-Bays
  • 4-Bays
  • 5-Bays
  • 6-Bays
  • Above 6-Bays

• By Mount Type :

  • Rackmount
  • Standalone

• By Storage Type :

  • Hard Disk Drive (HDD)
  • Flash Storage
  • Hybrid

• By Storage Capacity :

  • Less Than 1 TB
  • 1 TB to 20 TB
  • More Than 20 TB

• By Deployment :

  • On-premise
  • Cloud/Remote
  • Hybrid

• By End-user :

  • Residential
  • Small & Medium Enterprises
  • Large Enterprises

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa