Network Attached Storage (NAS) Market Size Report, Share & Forecast 2031

Network Attached Storage (NAS) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis – Storage Solution (Scale-up NAS, Scale-out NAS); Deployment (On-premise, Remote, Hybrid); Organization Size (SMEs, Large Enterprises); Product (High-end Enterprise NAS, Midmarket NAS, Low-end NAS); End-user (BFSI, Consumer goods and retail, Telecommunications and ITeS, Healthcare, Energy, Government, Education and Research, Media and Entertainment, Manufacturing, Business and Consulting, Others)

Publication Month : Mar 2024

  • Report Code : TIPRE00007683
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The network attached storage (NAS) market is expected to grow from US$ 26.38 billion in 2022 to US$ 96.54 billion by 2030; it is estimated to grow at a CAGR of 17.6% from 2022 to 2030. 

Analyst Perspective:

The network attached storage (NAS) market has witnessed significant growth in recent years, driven by technological advancements, the rising need for efficient storage solutions, and the rise in digitalization. It provides a storage and retrieval facility to retrieve data from a centralized location for a number of clients. The prominent factors fueling the NAS market are its features, such as easy setup, flexibility & scale-out, and its economical installation & maintenance costs. The rise in data traffic generates the need for an efficient storage system, which drives the need for NAS. The rise in unstructured data further generates the need for a scale-out NAS system to fuel the NAS market. In addition, the government is providing support to enhance the ability of SMEs to grow their business efficiently. It provides incentives, several schemes, and investments that help SMEs adopt digital solutions, leading to the adoption of NAS systems and driving the NAS market.

Market Overview:

Network-attached storage (NAS) is a file storage system that facilitates multiple users and heterogeneous client devices to gain access to data from centralized disk capacity. It provides high capacity, ease of access, and low cost. The network-attached storage (NAS) devices consolidate storage in one place and support a cloud tier and tasks, such as archiving and backup. Network-attached storage (NAS) deals with unstructured data like video, audio, text files, websites, and other Microsoft Office documents. The purpose of network-attached storage (NAS) is to allow users to collaborate and share more data effectively.

Strategic Insights

Market Driver:

Increased Data Traffic to Drive Growth of the NAS Market

Rising usage of connected devices, easy access to the internet, and decreasing cost of internet services boost the need for data storage and fuel network attached storage (NAS) market. Additionally, the growing adoption of big data analytics and cloud-based services, including online content, apps, videos, and social media, fuels the requirement for an efficient storage solution such as the NAS system and acts as a catalyst for NAS market growth. According to Telefonaktiebolaget LM Ericsson’s data on ‘Mobile data traffic outlook,’ the total global mobile data traffic, excluding fixed wireless access (FWA), reached around 93 Exabyte (EB) per month at the end of 2022 and is anticipated to reach 392 EB per month by the end of 2028. In addition, by 2027, all mobile data traffic growth will come from 5G as 4G traffic declines.

Moreover, the deployment of 5G networks is significantly increasing the volume of data traffic, as 5G offers higher data volumes and lower latency than 4G and other networks. According to Cisco’s report, 5G is anticipated to support more than 10% of mobile connections worldwide by the end of 2023, with an average speed of 575 Mbps. Due to increased data traffic, businesses and enterprises seek services to store, process, and distribute their data efficiently and reliably, contributing to the need for network attached storage solutions.

Several industries are exploring cloud offerings and reaping the benefits of data center services to support their business expansion requirements. These developments directly affect the adoption of digital technologies and fuel the data volume, thereby resulting in the shift toward efficient and cost-effective storage solutions to handle the increased data volume coupled with the benefits of saving costs. Thus, increased data traffic fosters the network attached storage (NAS) market growth.

 Increased Data Traffic to Drive Growth of the NAS Market

Segmental Analysis:

Based on the storage solution, the network attached storage (NAS) market is segmented into scale-up NAS and scale-out NAS. The scale-out NAS segment held the significant network attached storage (NAS) market share in 2022, whereas the scale-out NAS segment is estimated to register the highest CAGR in the market during the forecast period. The scale-out network attached storage (NAS) addresses the unpredictable growth of structured and unstructured data and the performance demands of handling present workloads, leading to its adoption and propelling the network attached storage (NAS) market. Its storage architecture is cost-effective, offers enhanced performance of clustered components, and accelerates nondisruptive operations. The end-use application widely adapts it as its technique enables capacity expansion according to their requirement. Thus, such scale-out network attached storage (NAS) characteristics lead to the segment’s growth in the network attached storage (NAS) market.

Regional Analysis:

APAC has established itself as one of the fastest-growing network attached storage (NAS) market. Several factors have contributed to APAC's strong position in this market. Firstly, APAC has been at the forefront of adapting advanced technologies and digitalization. In addition, the growth in consumer disposable income, changes in their lifestyle, and purchasing patterns are a few factors contributing to the increased purchasing of goods and products from online platforms. Consumer prefers to shop online as it offers a selection from a wide range of products and saves time and money compared to brick-and-mortar stores. In addition, the increasing penetration of the internet and smartphones is boosting customers’ preference for online shopping, fueling the growth of the e-commerce industry. According to the India Brand Equity Foundation, the online shopper base in India was 150 million in 2021 and is expected to reach 350 million by 2026. Thus, the growing e-commerce industry generates the demand for huge amounts of data storage. With the rise in volume of online transactions, e-commerce companies require an efficient solution to store, access, and process their data. Network attached storage (NAS) is considered an efficient and scalable solution that supports data storage for expanding the e-commerce sector and digitalization, further leading to the growing adoption of network attached storage (NAS) solutions and driving the network attached storage (NAS) market.

In addition, the region is experiencing a rise in the data centers. Due to the rise in the need for data storage to handle the growing data across several industries, the need for data centers or colocation services is on the rise. Some of the data center launches mentioned are:

  • In September 2023, Colt Data Centre Services unveiled the first data center in India to support the growing demand of hyper-scale cloud service providers and large enterprise enterprises in the fast-growing India data center market.
  • In July 2023, Equinix launched a hyperscale data center in Tokyo, Japan.
  • In August 2023, the South Korean government announced the plan to launch up to 25 40MW data centers in the country.

Network attached storage (NAS) is a scalable and cost-effective storage solution. As these solutions can be installed in the enterprise's data centers efficiently, the growing data traffic generates the need for extra storage in the existing data centers. In addition, the installation of network attached storage (NAS) helps to optimize the entire data center deployment. Thus, the rise in data centers creates lucrative growth opportunities for the network attached storage (NAS) market size in the region.

Regional Analysis:

Key Player Analysis:

The network attached storage (NAS) market analysis consists of players such as Dell Inc, IBM Corporation, Fujitsu, Hewlett Packard Enterprise Development LP, Hitachi Vantara LLC, NETGEAR, Oracle Corporation, Quantum Corporation, and Western Digital Corporation who offer diversified product portfolio.

Recent Developments: 

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the NAS market. A few recent key network attached storage (NAS) market developments are listed below: 

  • In June 2022, StorCentric, a provider of a portfolio of data management solutions, announced the general availability (GA) introduction of Nexsan EZ-NAS, NAS. It features an easy-to-configure 1U form factor and four drives with up to 72 TB of raw capacity and 1.5 GB/s of throughput, which is ideal for small and medium-sized enterprises (SMEs) and large enterprises’ edge deployments.
  • In August 2022, QNAP Systems Inc., a leading storage solution innovator, launched the QXG-100G2SF-CX6 dual-port 100GbE PCIe 4.0 expansion card. It features an NVIDIA Mellanox ConnectX-6 Dx controller, the QXG-100G2SF-CX6 can be installed in a QNAP all-flash NAS or Windows/Linux workstations/servers to provide up to 200Gbps total throughput.
  • In September 2021, Dell Inc. announced innovation in its Dell EMC PowerScale NAS systems to provide more flexible consumption and management of unstructured data with 75% more performance.
  • In October 2023, Ugreen added Ugreen NAS devices to its portfolio.
  • In October 2023, QNAP Systems, Inc. launched the QGD-1600 and QGD-160, new smart edge switches, to provide enhanced LAN security and versatile network management solutions. These switches are developed to integrate the functions of NAS (Network-Attached Storage) and switches.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Network-Attached Storage Market - By Storage Solution
1.3.2 Network-Attached Storage Market - By Deployment Type
1.3.3 Network-Attached Storage Market - By Enterprise Size
1.3.4 Network-Attached Storage Market - By Industry
1.3.5 Network-Attached Storage Market - By Region
1.3.5.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. NETWORK-ATTACHED STORAGE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS

5. NETWORK-ATTACHED STORAGE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6. NETWORK-ATTACHED STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1. NETWORK-ATTACHED STORAGE - GLOBAL MARKET OVERVIEW
6.2. NETWORK-ATTACHED STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. NETWORK-ATTACHED STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - STORAGE SOLUTION
7.1. OVERVIEW
7.2. STORAGE SOLUTION MARKET FORECASTS AND ANALYSIS
7.3. SCALE-UP NAS
7.3.1. Overview
7.3.2. Scale-up NAS Market Forecast and Analysis
7.4. SCALE-OUT NAS
7.4.1. Overview
7.4.2. Scale-out NAS Market Forecast and Analysis
8. NETWORK-ATTACHED STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT TYPE
8.1. OVERVIEW
8.2. DEPLOYMENT TYPE MARKET FORECASTS AND ANALYSIS
8.3. ON-PREMISE
8.3.1. Overview
8.3.2. On-premise Market Forecast and Analysis
8.4. REMOTE
8.4.1. Overview
8.4.2. Remote Market Forecast and Analysis
8.5. HYBRID
8.5.1. Overview
8.5.2. Hybrid Market Forecast and Analysis
9. NETWORK-ATTACHED STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - ENTERPRISE SIZE
9.1. OVERVIEW
9.2. ENTERPRISE SIZE MARKET FORECASTS AND ANALYSIS
9.3. SMES
9.3.1. Overview
9.3.2. SMEs Market Forecast and Analysis
9.4. LARGE ENTERPRISES
9.4.1. Overview
9.4.2. Large Enterprises Market Forecast and Analysis
10. NETWORK-ATTACHED STORAGE MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
10.1. OVERVIEW
10.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
10.3. IT AND TELECOM
10.3.1. Overview
10.3.2. IT and Telecom Market Forecast and Analysis
10.4. HEALTHCARE
10.4.1. Overview
10.4.2. Healthcare Market Forecast and Analysis
10.5. GOVERNMENT
10.5.1. Overview
10.5.2. Government Market Forecast and Analysis
10.6. MANUFACTURING
10.6.1. Overview
10.6.2. Manufacturing Market Forecast and Analysis
10.7. MEDIA AND ENTERTAINMENT
10.7.1. Overview
10.7.2. Media and Entertainment Market Forecast and Analysis
10.8. OTHERS
10.8.1. Overview
10.8.2. Others Market Forecast and Analysis

11. NETWORK-ATTACHED STORAGE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Network-Attached Storage Market Overview
11.1.2 North America Network-Attached Storage Market Forecasts and Analysis
11.1.3 North America Network-Attached Storage Market Forecasts and Analysis - By Storage Solution
11.1.4 North America Network-Attached Storage Market Forecasts and Analysis - By Deployment Type
11.1.5 North America Network-Attached Storage Market Forecasts and Analysis - By Enterprise Size
11.1.6 North America Network-Attached Storage Market Forecasts and Analysis - By Industry
11.1.7 North America Network-Attached Storage Market Forecasts and Analysis - By Countries
11.1.7.1 United States Network-Attached Storage Market
11.1.7.1.1 United States Network-Attached Storage Market by Storage Solution
11.1.7.1.2 United States Network-Attached Storage Market by Deployment Type
11.1.7.1.3 United States Network-Attached Storage Market by Enterprise Size
11.1.7.1.4 United States Network-Attached Storage Market by Industry
11.1.7.2 Canada Network-Attached Storage Market
11.1.7.2.1 Canada Network-Attached Storage Market by Storage Solution
11.1.7.2.2 Canada Network-Attached Storage Market by Deployment Type
11.1.7.2.3 Canada Network-Attached Storage Market by Enterprise Size
11.1.7.2.4 Canada Network-Attached Storage Market by Industry
11.1.7.3 Mexico Network-Attached Storage Market
11.1.7.3.1 Mexico Network-Attached Storage Market by Storage Solution
11.1.7.3.2 Mexico Network-Attached Storage Market by Deployment Type
11.1.7.3.3 Mexico Network-Attached Storage Market by Enterprise Size
11.1.7.3.4 Mexico Network-Attached Storage Market by Industry
11.2. EUROPE
11.2.1 Europe Network-Attached Storage Market Overview
11.2.2 Europe Network-Attached Storage Market Forecasts and Analysis
11.2.3 Europe Network-Attached Storage Market Forecasts and Analysis - By Storage Solution
11.2.4 Europe Network-Attached Storage Market Forecasts and Analysis - By Deployment Type
11.2.5 Europe Network-Attached Storage Market Forecasts and Analysis - By Enterprise Size
11.2.6 Europe Network-Attached Storage Market Forecasts and Analysis - By Industry
11.2.7 Europe Network-Attached Storage Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Network-Attached Storage Market
11.2.7.1.1 Germany Network-Attached Storage Market by Storage Solution
11.2.7.1.2 Germany Network-Attached Storage Market by Deployment Type
11.2.7.1.3 Germany Network-Attached Storage Market by Enterprise Size
11.2.7.1.4 Germany Network-Attached Storage Market by Industry
11.2.7.2 France Network-Attached Storage Market
11.2.7.2.1 France Network-Attached Storage Market by Storage Solution
11.2.7.2.2 France Network-Attached Storage Market by Deployment Type
11.2.7.2.3 France Network-Attached Storage Market by Enterprise Size
11.2.7.2.4 France Network-Attached Storage Market by Industry
11.2.7.3 Italy Network-Attached Storage Market
11.2.7.3.1 Italy Network-Attached Storage Market by Storage Solution
11.2.7.3.2 Italy Network-Attached Storage Market by Deployment Type
11.2.7.3.3 Italy Network-Attached Storage Market by Enterprise Size
11.2.7.3.4 Italy Network-Attached Storage Market by Industry
11.2.7.4 United Kingdom Network-Attached Storage Market
11.2.7.4.1 United Kingdom Network-Attached Storage Market by Storage Solution
11.2.7.4.2 United Kingdom Network-Attached Storage Market by Deployment Type
11.2.7.4.3 United Kingdom Network-Attached Storage Market by Enterprise Size
11.2.7.4.4 United Kingdom Network-Attached Storage Market by Industry
11.2.7.5 Russia Network-Attached Storage Market
11.2.7.5.1 Russia Network-Attached Storage Market by Storage Solution
11.2.7.5.2 Russia Network-Attached Storage Market by Deployment Type
11.2.7.5.3 Russia Network-Attached Storage Market by Enterprise Size
11.2.7.5.4 Russia Network-Attached Storage Market by Industry
11.2.7.6 Rest of Europe Network-Attached Storage Market
11.2.7.6.1 Rest of Europe Network-Attached Storage Market by Storage Solution
11.2.7.6.2 Rest of Europe Network-Attached Storage Market by Deployment Type
11.2.7.6.3 Rest of Europe Network-Attached Storage Market by Enterprise Size
11.2.7.6.4 Rest of Europe Network-Attached Storage Market by Industry
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Network-Attached Storage Market Overview
11.3.2 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis
11.3.3 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis - By Storage Solution
11.3.4 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis - By Deployment Type
11.3.5 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis - By Enterprise Size
11.3.6 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis - By Industry
11.3.7 Asia-Pacific Network-Attached Storage Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Network-Attached Storage Market
11.3.7.1.1 Australia Network-Attached Storage Market by Storage Solution
11.3.7.1.2 Australia Network-Attached Storage Market by Deployment Type
11.3.7.1.3 Australia Network-Attached Storage Market by Enterprise Size
11.3.7.1.4 Australia Network-Attached Storage Market by Industry
11.3.7.2 China Network-Attached Storage Market
11.3.7.2.1 China Network-Attached Storage Market by Storage Solution
11.3.7.2.2 China Network-Attached Storage Market by Deployment Type
11.3.7.2.3 China Network-Attached Storage Market by Enterprise Size
11.3.7.2.4 China Network-Attached Storage Market by Industry
11.3.7.3 India Network-Attached Storage Market
11.3.7.3.1 India Network-Attached Storage Market by Storage Solution
11.3.7.3.2 India Network-Attached Storage Market by Deployment Type
11.3.7.3.3 India Network-Attached Storage Market by Enterprise Size
11.3.7.3.4 India Network-Attached Storage Market by Industry
11.3.7.4 Japan Network-Attached Storage Market
11.3.7.4.1 Japan Network-Attached Storage Market by Storage Solution
11.3.7.4.2 Japan Network-Attached Storage Market by Deployment Type
11.3.7.4.3 Japan Network-Attached Storage Market by Enterprise Size
11.3.7.4.4 Japan Network-Attached Storage Market by Industry
11.3.7.5 South Korea Network-Attached Storage Market
11.3.7.5.1 South Korea Network-Attached Storage Market by Storage Solution
11.3.7.5.2 South Korea Network-Attached Storage Market by Deployment Type
11.3.7.5.3 South Korea Network-Attached Storage Market by Enterprise Size
11.3.7.5.4 South Korea Network-Attached Storage Market by Industry
11.3.7.6 Rest of Asia-Pacific Network-Attached Storage Market
11.3.7.6.1 Rest of Asia-Pacific Network-Attached Storage Market by Storage Solution
11.3.7.6.2 Rest of Asia-Pacific Network-Attached Storage Market by Deployment Type
11.3.7.6.3 Rest of Asia-Pacific Network-Attached Storage Market by Enterprise Size
11.3.7.6.4 Rest of Asia-Pacific Network-Attached Storage Market by Industry
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Network-Attached Storage Market Overview
11.4.2 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis
11.4.3 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis - By Storage Solution
11.4.4 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis - By Deployment Type
11.4.5 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis - By Enterprise Size
11.4.6 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis - By Industry
11.4.7 Middle East and Africa Network-Attached Storage Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Network-Attached Storage Market
11.4.7.1.1 South Africa Network-Attached Storage Market by Storage Solution
11.4.7.1.2 South Africa Network-Attached Storage Market by Deployment Type
11.4.7.1.3 South Africa Network-Attached Storage Market by Enterprise Size
11.4.7.1.4 South Africa Network-Attached Storage Market by Industry
11.4.7.2 Saudi Arabia Network-Attached Storage Market
11.4.7.2.1 Saudi Arabia Network-Attached Storage Market by Storage Solution
11.4.7.2.2 Saudi Arabia Network-Attached Storage Market by Deployment Type
11.4.7.2.3 Saudi Arabia Network-Attached Storage Market by Enterprise Size
11.4.7.2.4 Saudi Arabia Network-Attached Storage Market by Industry
11.4.7.3 U.A.E Network-Attached Storage Market
11.4.7.3.1 U.A.E Network-Attached Storage Market by Storage Solution
11.4.7.3.2 U.A.E Network-Attached Storage Market by Deployment Type
11.4.7.3.3 U.A.E Network-Attached Storage Market by Enterprise Size
11.4.7.3.4 U.A.E Network-Attached Storage Market by Industry
11.4.7.4 Rest of Middle East and Africa Network-Attached Storage Market
11.4.7.4.1 Rest of Middle East and Africa Network-Attached Storage Market by Storage Solution
11.4.7.4.2 Rest of Middle East and Africa Network-Attached Storage Market by Deployment Type
11.4.7.4.3 Rest of Middle East and Africa Network-Attached Storage Market by Enterprise Size
11.4.7.4.4 Rest of Middle East and Africa Network-Attached Storage Market by Industry
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Network-Attached Storage Market Overview
11.5.2 South and Central America Network-Attached Storage Market Forecasts and Analysis
11.5.3 South and Central America Network-Attached Storage Market Forecasts and Analysis - By Storage Solution
11.5.4 South and Central America Network-Attached Storage Market Forecasts and Analysis - By Deployment Type
11.5.5 South and Central America Network-Attached Storage Market Forecasts and Analysis - By Enterprise Size
11.5.6 South and Central America Network-Attached Storage Market Forecasts and Analysis - By Industry
11.5.7 South and Central America Network-Attached Storage Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Network-Attached Storage Market
11.5.7.1.1 Brazil Network-Attached Storage Market by Storage Solution
11.5.7.1.2 Brazil Network-Attached Storage Market by Deployment Type
11.5.7.1.3 Brazil Network-Attached Storage Market by Enterprise Size
11.5.7.1.4 Brazil Network-Attached Storage Market by Industry
11.5.7.2 Argentina Network-Attached Storage Market
11.5.7.2.1 Argentina Network-Attached Storage Market by Storage Solution
11.5.7.2.2 Argentina Network-Attached Storage Market by Deployment Type
11.5.7.2.3 Argentina Network-Attached Storage Market by Enterprise Size
11.5.7.2.4 Argentina Network-Attached Storage Market by Industry
11.5.7.3 Rest of South and Central America Network-Attached Storage Market
11.5.7.3.1 Rest of South and Central America Network-Attached Storage Market by Storage Solution
11.5.7.3.2 Rest of South and Central America Network-Attached Storage Market by Deployment Type
11.5.7.3.3 Rest of South and Central America Network-Attached Storage Market by Enterprise Size
11.5.7.3.4 Rest of South and Central America Network-Attached Storage Market by Industry

12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

13. NETWORK-ATTACHED STORAGE MARKET, KEY COMPANY PROFILES
13.1. BUFFALO AMERICAS, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. DELL EMC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. HITACHI VANTARA CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. NETAPP
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NETGEAR
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. QNAP SYSTEMS, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. SEAGATE TECHNOLOGY LLC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SYNOLOGY, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. WESTERN DIGITAL CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments

14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS

The List of Companies

1. Buffalo Americas, Inc.
2. Dell EMC
3. Hewlett Packard Enterprise Development LP
4. Hitachi Vantara Corporation
5. NetApp
6. NETGEAR
7. QNAP Systems, Inc.
8. Seagate Technology LLC
9. Synology, Inc.
10. Western Digital Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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