Consumer and SMB NAS Global Market Report 2024

The consumer and smb nas market has grown strongly in recent years. It will grow from $15.65 billion in 2023 to $16.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The expansion observed in the historical period can be attributed to several factors, including the growth of online communities, heightened concerns for user safety, adherence to regulatory measures, increased engagement in e-commerce activities, and the globalization of online platforms.

The consumer and smb nas market is expected to see strong growth in the next few years. It will grow to $22.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period is driven by factors such as social and political changes, the increasing demand for real-time moderation, the expansion of virtual events, a focus on inclusion and diversity, and an emphasis on brand reputation management. Noteworthy trends in this forecast period encompass the adoption of blockchain for transparency, the implementation of cross-platform moderation, the need for multilingual moderation capabilities, a growing emphasis on real-time moderation, the importance of video and image moderation, and a heightened demand for customization and flexibility.

The increasing demand for data storage is anticipated to drive the growth of the consumer and SMB NAS market in the foreseeable future. Data storage involves preserving digital records for future operations, and there is a rising need among end-users to store large volumes of data at a more cost-effective rate than cloud-based storage. As an example, in February 2023, Connectbit, a Singapore-based IT support and WordPress services provider in an enterprise environment, reported that approximately 65.28% of individuals utilized personal cloud storage as their primary data storage method in 2023. Consequently, the escalating demand for data storage is a key driver for the Consumer and SMB NAS market.

The growth of remote access work is poised to propel the consumer and SMB NAS market in the coming years. Remote access for workforce mobility enables employees to access company resources, data, and systems from locations beyond the traditional office setting. Consumers, small and medium-sized businesses (SMBs), and network-attached storage (NAS) users utilize remote access to retrieve their data and files from locations outside their local network. This capability enhances flexibility, collaboration, and productivity, particularly in the context of remote work scenarios. For instance, according to Forbes Media LLC, a US-based media company, in June 2023, it is projected that 12.7% of full-time employees will be working from home, while 28.2% will adopt a hybrid approach. By 2025, an estimated 32.6 million Americans will be working remotely. Thus, the increasing prevalence of remote access work is a significant driver for the consumer and SMB NAS markets.

Product innovation stands out as a prominent trend gaining traction in the consumer and SMB NAS market. Major companies within this market are strategically focused on developing innovative products embedded with advanced technologies to fortify their market positions. A notable example is PAC Storage, a premier US-based developer and manufacturer of data storage solutions, which, in September 2021, introduced an advanced Scale-Out NAS product line featuring the All Flash NVMe Scale-Out NAS. This NVMe solution excels in meeting the requirements for low-latency workloads and high throughput, catering to industries such as media and entertainment, high-performance computing (HPC), and Big Data.

Strategic partnerships are becoming a cornerstone strategy for major companies operating in the wired consumer and SMB industries. This approach involves leveraging each other's strengths and resources to achieve mutual benefits and success. A case in point is the partnership between Synology Inc., a Taiwan-based developer of high-performance NAS servers, and Redington MEA, a United Arab Emirates-based provider of IT, telecom, and digital lifestyle solutions. Formed in April 2022, this strategic partnership aims to expand market reach, improve product accessibility, strengthen local presence, and drive success for both collaborating entities.

In June 2022, Nasuni Corporation, a leading US-based provider of file data services, acquired Storage Made Easy (SME) for an undisclosed amount. This acquisition expands organizations' capabilities to modernize their file data infrastructures, all while achieving reductions in capital and operational costs. Storage Made Easy (SME), based in the UK, specializes in file data management and offers remote work and compliance solutions for cloud file storage.

Major companies operating in the consumer and smb nas market report are Apple Inc., ASUSTOR Inc., Buffalo Americas Inc., D-Link Corporation, Drobo Inc., Infortrend Technology Inc., iXsystems Inc., Netgear Inc., Promise Technology Inc., QNAP Systems Inc., Seagate Technology LLC, Synology Inc., Thecus Technology Corp., Toshiba Corp., Western Digital Corporation, Transporter, Zyxel, Iomega Corporation, TerraMaster, Asustek Computer Inc., Cisco Systems Inc., Akitio, SilverStone Technology Co. Ltd., Hewlett Packard Enterprise, Dell Technologies Inc., Acer Inc., Fujitsu Limited, Lenovo Group Limited, Shuttle Inc., Amped Wireless.

North America was the largest region in the consumer and SMB NAS market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global consumer and SMB NAS market during the forecast period. The regions covered in the consumer and smb nas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the consumer and smb nas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary configurations of consumer and SMB NAS devices range from 1-bay to 12-bay. A 1-bay NAS serves as an excellent entry-level enclosure suitable for storing movies, music, and data that do not require additional redundancy backup through RAID. These NAS systems find deployment in various settings, including on-premises, remote/cloud environments, and hybrid setups. End users encompass consumers, small office/home office (SOHO) setups, server message block (SMBs), and small and medium-sized enterprises (SMEs).

The consumer and SMB NAS market research report provides consumer and SMB NAS market statistics, including consumer and SMB NAS industry global market size, regional shares, competitors with a consumer and SMB NAS market share, detailed consumer and SMB NAS market segments, market trends and opportunities, and any further data you may need to thrive in the consumer and SMB NAS industry. This consumer and SMB NAS market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The consumer and SMB NAS market includes revenues earned by entities by providing services such as data storage and file-sharing requests, fast, secure, and reliable storage services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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