Consumer Network Attached Storage Global Market Report 2024

The consumer network attached storage market size has grown rapidly in recent years. It will grow from $15.54 billion in 2023 to $17.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth observed in the historic period can be attributed to the proliferation of digital content, the surge in multimedia streaming services, and the expansion of smart home ecosystems.

The consumer network attached storage market size is expected to see rapid growth in the next few years. It will grow to $31.96 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The anticipated growth in the forecast period can be attributed to the rising demand for home media storage solutions, driven by the expansion of smart home applications and the increasing need for efficient data management.

The escalating adoption of IoT devices is poised to drive the consumer network-attached storage market's expansion. IoT devices, encompassing physical objects equipped with sensors and software for data exchange over the internet, witness increasing adoption fueled by technological advancements, cost efficiency, and industry-specific applications. Integration of IoT devices with consumer network-attached storage systems facilitates efficient storage, analysis, and security of IoT-generated data, amplifying overall consumer utility. Notably, a March 2023 report by Sogeti revealed global IoT device adoption to have reached 42.62 billion in 2022, with projections soaring to 75.44 billion by 2025, thus catalyzing growth in the consumer network-attached storage market.

Key players in the consumer network-attached storage sector prioritize the development of next-generation devices, exemplified by the NASync series, to cater to evolving consumer demands for reliable storage solutions. This series represents an advanced iteration of traditional NAS systems, incorporating state-of-the-art technologies and features to align with shifting user preferences and industry dynamics. UGREEN, in collaboration with Intel Corporation, unveiled the NASync series in January 2024, powered by Intel Core i5 control chips and equipped with an AI-driven intelligent data management center. Users can seamlessly store and access data locally and remotely across multiple devices, facilitated by an all-in-one app enabling wireless data access, media streaming, and photo recognition functionalities.

In May 2022, Jungle Disk acquired ElephantDrive, consolidating its position in the consumer backup market and expanding its cloud backup offerings to cater to individual and family needs. This acquisition aims to merge Jungle Disk's backup and recovery infrastructure with ElephantDrive's leading network-attached storage (NAS) and consumer storage solutions, creating a comprehensive backup solution suite. ElephantDrive, recognized for its cloud backup, storage, and data management platform, brings expertise in consumer NAS solutions to complement Jungle Disk's offerings.

Major companies operating in the consumer network attached storage market are Apple Inc., Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Lenovo Group Limited, HP Inc., Panasonic Corporation, Cisco Systems Inc., Toshiba Corporation, ASUSTeK Computer Inc., Western Digital Corporation, Seagate Technology, Acer Inc., GIGABYTE Technology Co. Ltd., NETGEAR Inc., ZyXEL Communications Corp., QNAP Systems Inc., D-Link Corporation, Synology Inc., ASRock Inc., Silicon Power Computer & Communications Inc., Asustor Inc., Thecus Technology Corp., Buffalo Americas, Drobo Inc.

North America was the largest region in the consumer network attached storage market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer network attached storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the consumer network attached storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Consumer network-attached storage (NAS) is a storage device connected to a network, offering centralized storage accessible to multiple users and devices within a home or small office setup. These devices commonly feature one or more hard drives configured in various RAID setups to ensure data redundancy and optimize performance.

The primarily types of consumer network-attached storage (NAS) are hard disk drives (HDDs), flash storage, and hybrid configurations. Hard disk drives (HDDs) are non-volatile storage devices employing magnetic storage for data storage and retrieval. They come in various designs, including 1-Bay, 2-Bays, 4-Bays, 5-Bays, 6-Bays, and configurations above 6-Bays. Deployment options encompass on-premise, cloud/remote, and hybrid setups, catering to both residential and business users.

The consumer network attached storage market research report is one of a series of new reports that provides consumer network attached storage market statistics, including consumer network attached storage industry global market size, regional shares, competitors with a consumer network attached storage market share, detailed consumer network attached storage market segments, market trends and opportunities, and any further data you may need to thrive in the consumer network attached storage industry. This consumer network attached storage 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 network attached storage market consists of revenues earned by entities by providing services such as user and group management, file storage and sharing, media streaming, and data synchronization. The market value includes the value of related goods sold by the service provider or included within the service offering. The consumer network-attached storage market also includes the sale of products including mobile apps, standalone devices, diskless enclosures, and NAS-equipped routers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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