The network attached storage (NAS) market size is projected to reach US$ 113.49 billion by 2031 from US$ 31.02 billion in 2023. The market is expected to register a CAGR of 17.60% in 2023–2031. The integration of on-premises NAS with cloud storage is likely to remain a key network attached storage (NAS) market trend.
The network attached storage (NAS) market has grown significantly in recent years, owing to technical improvements, a growing demand for effective storage solutions, and an increase in digitalization. It provides a storage and retrieval service that allows several clients to retrieve data from a centralized place. The NAS industry is primarily driven by advantages such as ease of setup, flexibility, and scale-out, as well as low installation and maintenance costs. The increase in data flow necessitates an effective storage system, which raises the demand for NAS solutions.
The increase in data flow necessitates an effective storage system, which promotes the demand for NAS. The increase in unstructured data highlights the necessity for a scale-out NAS system to drive the NAS business. Furthermore, the government is working to improve SMEs' ability to grow their businesses efficiently. It offers incentives, initiatives, and investments to help SMEs embrace digital solutions, resulting in the adoption of NAS systems and driving the NAS market.
Network-attached storage (NAS) is a file storage system that allows multiple users and different client devices to access data from a centralized disk capacity. It offers large capacity, easy access, and minimal cost. Network-attached storage (NAS) devices consolidate storage into a single location and support cloud tiers and functions such as archiving and backup. Network-attached storage (NAS) handles unstructured data such as video, audio, text files, websites, and Microsoft Office documents. The goal of network-attached storage (NAS) is to help users collaborate and share more data efficiently.
The rising connected device usage, simple internet access, and lower internet service costs all contribute to increased data storage demand and fuel the network attached storage (NAS) market. Furthermore, the growing use of big data analytics and cloud-based services, such as online content, apps, videos, and social media, increases the demand for an effective storage solution like a NAS system and serves as a catalyst for NAS market growth. According to Telefonaktiebolaget LM Ericsson's 'Mobile data traffic outlook,' total global mobile data traffic, excluding fixed wireless access (FWA), reached around 93 Exabytes (EB) per month at the end of 2022 and is expected to reach 392 EB per month by the end of 2031. Furthermore, when 4G traffic falls, 5G will account for 100% of mobile data traffic increase by 2031.
The development of 5G networks is dramatically boosting data traffic because it provides bigger data volumes and lower latency than 4G and other networks. According to Cisco's estimate, 5G is expected to serve more than 10% of global mobile connections by the end of 2023, with an average speed of 575 Mbps. Because of rising data traffic, organizations and enterprises need services to store, process, and distribute their data effectively and reliably, leading to the demand for network attached storage solutions.
The growing requirement for real-time data is driving the growth of the NAS market. The surging adoption of Internet of Things (IoT) technologies and connected devices, as well as the increasing adoption of hybrid cloud storage, are creating lucrative opportunities for NAS market players.
Key segments that contributed to the derivation of the network attached storage (NAS) market analysis are storage solution, deployment, organization size, product, and end-user.
The geographic scope of the Network Attached Storage (NAS) market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
APAC has established itself as one of the most rapidly expanding network attached storage (NAS) markets. Several reasons have contributed to APAC's dominant position in the market. For starters, APAC has been at the forefront of sophisticated technology adoption and digitization. Furthermore, increases in consumer disposable income, changes in lifestyle, and shopping patterns are only a few of the variables driving the growing purchase of goods and products through online platforms. Consumers prefer to purchase online because it provides a wider assortment of products and saves time and money when compared to traditional stores. Furthermore, increased internet and smartphone penetration is increasing customers' desire for online purchasing, accelerating the expansion of the e-commerce business.
According to the India Brand Equity Foundation, India's online consumer base was 150 million in 2021 and is projected to reach 350 million by 2031. Thus, the rising e-commerce industry creates a demand for massive volumes of data storage. With the increasing volume of online transactions, e-commerce businesses require an efficient solution for storing, accessing, and processing their data. Network attached storage (NAS) is regarded as an efficient and scalable solution for data storage in order to boost the e-commerce sector and digitalization, resulting in increased use of network attached storage (NAS) solutions and driving the market.
The regional trends and factors influencing the Network Attached Storage (NAS) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Network Attached Storage (NAS) Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 36.48 billion |
| Market Size by 2031 | US$ 113.49 billion |
| Global CAGR (2025 - 2031) | 17.60% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Storage Solution
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Network Attached Storage (NAS) Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Network Attached Storage (NAS) Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The network attached storage (NAS) market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Network Attached Storage (NAS) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas: