The global consumer NAS market is expected to generate revenues of around $12 billion by 2023, growing at a CAGR of more than 9% during 2018-2023.
Arizton’s recent market research report on the global consumer NAS market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by end-user (consumer, SOHO, SMBs, and SMEs), by form factor (1-Bay, 2-Bay, 4-Bay and 5-Bay, and 6-Bay to 12-Bay), by geography (North America, Europe, APAC, Latin America, and MEA), and offers detailed competitive analysis.
The growing demand for user-friendly storing, accessing, and sharing of files among end-users at an affordable cost is driving the growth of the global consumer NAS market. The platforms available in the market offer a host of features that enable sharing of files among users, remote access to the file, secure storage to data, multimedia streaming, and storing of video surveillance footages.
The top 3 drivers and trends contributing to the growth of the global consumer NAS market are discussed below:
Increased Need for Video Surveillance
The rising implementation of video surveillance services by consumers and business is propelling the growth of the global consumer NAS market. The growing importance of physical security across all end-user segments that led to the installation of surveillance cameras in the global market. The average video surveillance camera available on the global market is equipped with systems that help to protect the premise from every side of the property to secure the consumers personal and home office data. The penetration of HD cameras will revolutionize the global consumer NAS market during the forecast period. The innovations in camera equipment such as integration of 1080p HD surveillance will boost the storage capacity requirements in the global market. The adoption of video surveillance software to identify facial recognition is boosting the demand for NAS devices for storing and processing these high-quality video surveillance camera feeds. The need for systems that can offer large storage space and fast data transmission is augmenting the development of the global consumer NAS market.
Decline in Average Selling Price (ASP) of NAS
The leading players are offering diskless 1-bay device costing around $120, where 8-bay diskless devices within 1,000 dollars to attract new consumers in the global consumer NAS market.
The decline in ASPs and the launch of innovative products at reduced prices are some of the primary factors attributing to the growth of the global market.
Various solutions such as processor power, DRAM, form factor (bay), and 1 GbE or 10 GbE Ethernet port at a low price is boosting the sales in the global market. The increasing shift of operations of centralized storage for entire home users will generate higher storage requirement in the global market. The top players are generating awareness among the untapped users to increase their global consumer NAS market share during the forecast period. The top DAS and external hard drive companies such as Seagate, Western Digital, Asustor, and Buffalo Technology are operating in the global consumer NAS market. The focus on innovations to improve the performance of the appliance making it more powerful and secure will revolutionize the global market over the next few years.
Incorporation of SSD Cache in NAS Storage
The extensive incorporation of SSD systems across the consumer storage and data center storage segments is augmenting the global consumer NAS market. Large enterprises are using all-flash arrays, where the low-level and mid-range systems support SSD technology is gaining immense traction in the global market. Leading vendors are focusing on SMB and SME NAS devices to incorporate support for SSD across few bays to gain a larger global market share. For instance, 8-bay NAS systems are sold with at least 4-bays capable of operating through SSDs and 4-bays for HDDs. The companies are leveraging SSD caches integrated with applications to support and run critical applications in the global market. The growing use of SSD caches for processing big data analytics or similar operations will boost the demand in the global consumer NAS market.
The leading vendors in the global consumer NAS market are Apple, Buffalo Technology, NETGEAR, QNAP Systems, Seagate, Synology, and Western Digital Corporation.
The complete overview of the latest market research report on global consumer NAS market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Sep 27, 2021
Is COVID-19 Impacting the Growth of the Digital Pathology Market Positively?
According to the latest Arizton's market research report, the digital pathology systems market size ...
Sep 27, 2021
What Growth Strategies are Implemented by Vendors in Stain Remover Products Market?
According to the latest Arizton's market research report, the stain remover products market size to ...
Aug 30, 2021
Is Deployment of Smart Connectivity Leading the Digital Lock Market?
According to the latest Arizton's market research report, the digital lock market size to cross over...