According to a new report Global Network Attached Storage (NAS) Market, published by KBV research, The Global Network Attached Storage (NAS) Market size is expected to reach $58.3 billion by 2026, rising at a market growth of 16.7% CAGR during the forecast period.
The hybrid segment is anticipated to witness the highest growth rate in the network attached storage market during the forecast years. The preference toward such deployment models is expanding with every day as organizations need to maintain a backup of important data to prevent the loss of essential information during the time of any disaster. One of the advantages of hybrid cloud storage is that it combines on-premises control over infrastructure, security, and data with the adaptable nature of cloud technology.
The constantly changing regulatory demand, massive data growth, and budget margins would boost the need for cost-efficient and scalable solutions across the BFSI sector. The installation of NAS solutions makes it simpler for financial institutions to protect, store, and access customer data. The telecommunication segment is witnessing a massive development in data volumes due to the expansion of over-the-top services incorporated with the transformation of smartphones.
Scale-up NAS solutions accounted for a higher market share in 2019. These solutions are generally installed in small and medium businesses, homes, educational institutions, and hotels, wherein an average amount of data is produced, and the storage of this data is only the requirement. Besides, these solutions are accessible at a little cost in comparison to scale-out solutions.
In the APAC region, the network attached storage market is anticipated to maintain the highest growth rate over the forecasted years, owing to the presence of various small and medium-scale organizations in the region. Besides, the growing investments by these organizations in the growth of IT infrastructure are boosting the growth of the NAS market in these countries. Europe is anticipated to witness considerable growth in the years to come. The BFSI industry in the region is expected to be the potential user of NAS.
Full Report: https://www.kbvresearch.com/network-attached-storage-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Dell Technologies, Inc., Hitachi, Ltd., NetApp, Inc., Hewlett Packard Enterprise Company, IBM Corporation, Netgear, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Cisco Systems, Inc., Microsoft Corporation and Western Digital Corporation.
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