Consumer Network Attached Storage Market

Small and medium enterprises segment expected to remain dominant through 2024 in the global consumer network attached storage market

Presently, the small and medium enterprises segment accounts for comparatively higher revenue share in the global consumer network attached storage market. In terms of revenue, small and medium enterprises is projected to be the most attractive segment in the global consumer network attached storage market during the assessment period. Small and medium enterprises segment is estimated to be valued at more than US$ 1,000 Mn in 2017 and is expected to remain dominant by 2024 end, accounting for close to 60% of the global market revenue share.

Among the end user segments, the residential end user segment is anticipated to register a high CAGR during the projected period. The residential end user segment is expected to register high Y-o-Y growth rates throughout the forecast period and is expected to expand at a CAGR of 13.0% between 2016 and 2024. The segment is expected to be valued at more than US$ 500 Mn in 2017. Growth of this segment is attributed to increasing adoption of consumer network attached storage systems as they offer features such as easy installation and efficient backup.

Residential and small and medium enterprises segments are expected to lead the global consumer network attached storage market throughout the forecast period

Growing popularity of network attached storage to attain cost-effective solutions for data storage and increase in adoption of network attached storage systems by small and medium enterprises is the major factor likely to result in high revenue growth in the small and medium enterprises end user segment during the predicted period. Increasing utilization of network attached storage systems is another potential driver for small and medium enterprises, especially in emerging economies.

This adoption of network attached storage systems among smaller organizations is mainly driven by the benefits offered by network attached storage systems such as shared storage, centralized control, and flexibility to share capacity between multiple hosts.

Deployment of network attached storage systems can facilitate the reduction in total cost of ownership for enterprises and small business owners. Management of a centralized storage location is more cost-effective than managing traditional client/server storage models. Additionally, network attached storage system architecture eliminates the possibility of disk space going unused or disk failure, as storage devices are now consolidated. This further lowers the overall storage costs.

Benefits such as lower cost of ownership and a higher Return on Information Management offered by network attached storage devices are expected to further drive the growth of the small and medium enterprises segment. With the integration of high performance backup and restore capability and device sharing, several performance issues can be alleviated.

These issues include performance degradation, shrinking backup windows, and extended downtime periods. However, increase in the overall backup operation efficiency with server-less backup offered by network attached storage systems architecture is fueling the growth of the residential segment of the global network attached storage market.

With computing environments making a paradigm shift from server-centric to data-centric models, efficient access to shared data resources is becoming critical. This prolific growth in information that needs to be stored, managed, maintained, and retrieved has compelled consumers to make storage decisions separate from server decisions. This, in turn, is driving the growth of both the residential and small and medium enterprises segments.

The North America consumer network attached storage market is expected to expand at a higher CAGR

In terms of revenue, small and medium enterprises segment is projected to be the most attractive segment in the North America consumer network attached storage market during the calculated period. The residential end user segment in North America is expected to register high Year-on-Year growth rates throughout the forecast period and is expected to expand at a CAGR of 14.5% between 2016 and 2024. In Latin America, the small and medium enterprises segment is expected to register high Y-o-Y growth rates throughout the forecast period and is expected to expand at a CAGR of 12.3% between 2016 and 2024.

The residential segment is anticipated to hold a significant market share by 2024 end, accounting for a little more than 20% of the Latin America market revenue share. The residential segment is expected to register high Year-on-Year growth rates throughout the forecast period and is expected to expand at a CAGR of 13.9% between 2016 and 2024 in the APAC region. Small and medium enterprises segment is expected to remain dominant by 2024 end, accounting for more than 60% of the Asia Pacific consumer network attached storage market.

Key Segments Covered

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