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Network Attached Storage (NAS) Market Size

Report ID: GMI2570
Published Date: Nov 2024
Report Format: PDF

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Network Attached Storage Market Size

The global network attached storage market was valued at USD 34.5 billion in 2024 and is projected to grow at a CAGR of 17.1% between 2025 and 2034. The market is experiencing substantial growth due to the increasing adoption of cloud NAS file storage services. Cloud NAS solutions offer businesses scalable storage options, eliminating the need for extensive on-premises infrastructure.

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This pay-as-you-go model reduces both capital expenditures and operational costs. In today's remote work environment, the enhanced accessibility of cloud NAS, which allows users to access files from any location with an internet connection, is crucial. Additionally, the seamless integration of cloud NAS with existing IT systems simplifies data management, enhances collaboration, and supports efficient backup and recovery processes. As more organizations transition to cloud-based environments, the demand for cloud NAS services is expected to rise, driving market growth.

Network Attached Storage Market Report Attributes
Report Attribute	Details
Base Year:	2024
Network Attached Storage Market Size in 2024:	USD 34.5 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	17.1%
2034 Value Projection:	USD 136.4 Billion
Historical Data for:	2021 - 2024
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Architecture, Design, Deployment Model, Application
Growth Drivers:	Rising big data analytics and data mining applications High popularity of NAS for home or consumer applications Increasing adoption of cloud NAS file storage as a service Digitalization across various industry verticals
Pitfalls & Challenges:	Concerns regarding data security Low bandwidth performance for remotely hosted NAS

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Moreover, the network attached storage market is experiencing substantial growth, primarily driven by digitalization across various industries. As organizations transition to digital operations, they generate significantly larger volumes of data, necessitating efficient storage solutions. NAS provides a centralized, scalable, and secure platform for data management, enabling businesses to store, share, and access files seamlessly. Industries such as healthcare, finance, and retail are increasingly adopting digital technologies, resulting in greater demand for NAS to support their data storage and retrieval needs. Additionally, the rise of remote work and collaboration tools amplifies the necessity for accessible and reliable data storage. Consequently, the push towards digital transformation fosters robust demand for NAS solutions, driving market growth.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market size for network attached storage was valued at USD 34.5 billion in 2024 and is projected to reach USD 136.4 billion by 2034, driven by a CAGR of 17.1% from 2025 to 2034.

The on-premise deployment model accounted for over 55% of the market share in 2024 and is expected to exceed USD 75 billion by 2034, due to its advantages in control, security, and performance.

North America market accounted for over 35% of the market share in 2024 and is expected to exceed USD 50 billion by 2034, driven by the increasing demand for data storage due to digital transformation in various industries.

Major players in the industry include Dell, Hewlett Packard Enterprise Company (HPE), Hitachi, Huawei Technologies, iXsystems, Netapp, Pure Storage, QNAP, Synology, and Western Digital Corporation.