Network Attached Storage Market Worth Over $20bn by 2024

July 23, 2018--Network attached storage market has emerged to be one of the most viable investment avenues over the recent years with the massively proliferating cloud technology adoption. Big data and advanced analytics have brought a dramatic turnaround of sorts for network operators with regard to managing the large data volume. In a bid to analyze and manage these huge & disparate data sets instantaneously, enterprises are increasingly adopting NAS solutions. Testament of the aforesaid is the worldwide NAS industry share from cloud deployment mode which is slated to register a commendable y-o-y growth of 24% over 2018-2024.
 
On virtue of its far-flung benefits like scalability and ease of access, numerous tech giants in recent years have been on the go to come up with a plethora of innovative solutions that can be conveniently deployed across telecom & IT, retail, media & entertainment, healthcare, and consumer sectors. A recent instance depicting the widening product portfolio pertaining to NAS solutions is Synology’s latest release, dubbed as DS1618+.
 
Elaborating further, storage solution giant Synology has recently upgraded its 6 Bay NAS device. An enhanced version of its predecessor, DS3018xs in particular, DS1618+ though exhibits a similar design as that of a 6 Bay layout, is claimed to feature a better Intel quad-core processor. For the record, Synology’s flagship DS3018xs, which was launched in 2017, incorporates Pentium D1208 dual-core 2.2 GHz processor. Not just that, it is also inbuilt with PCle slots for installing an optional dual M.2 SATA SSD adapter that can shift processing into solid state drives in a bid to maintain efficiency and speed. Synology’s latest 6 Bay NAS tower, DS1618+ is touted to be an exceptional one as it amalgamates all these features with an enhanced processor and is touted as a disruption of sorts in the product landscape of NAS industry.
 
Concurrently, the company has also launched four other DS+ and DS models last year that are claimed to replace the existing NAS enclosures.  This incidence particularly validates how 1 Bay to 8 Bay NAS towers are gaining a mass popularity in network attached storage market, primarily aided by the increased adoption of these systems for consumer applications. In fact, estimates claim, the 1 Bay to 8 Bay NAS market to witness the fastest growth at 25% y-o-y 2018-2024.
 
Speaking of the design landscape, it is prudent to mention that in 2017, 12-bay to 20-bay also emerged as one of the top-notch solutions having procured almost 40% of the overall NAS industry share. The major customers were reported to be SMEs and the SOHO sector. One of the popular trends this segment has been undergoing is the development of highly enhanced performance-oriented storage systems that ensure reliability as well as security. The sector has indeed been an acclaimed venturing hub for the industry players considering its rich end-use base. 
 
In a recent turn of events witnessed across 12-bay to 20-bay NAS market, QNAP® Systems, few months back made its way to the front page with the launch of its 16-bay TS-1677X Ryzen™ NAS. Allegedly, this new enterprise class encompass twelve 3.5-inch drive bays and four 2.5-inch drive bays.  Boasting of a portfolio that include AMD Ryzen 8-core processor, SSD caching, and optimized storage capacity, this highly upgraded model is claimed to boost the visualization performance impressively. Though QNAP’s profound stance in the competitive network attached storage industry space is not unheard of, the introduction of TS-1677X is certain to strengthen its business position further considering the product’s exceptional design package.
 
Whether NAS solutions could drive the future of advanced analytics is a debatable subject as of now, however the tech realm over the past few years suggests a substantial commercialization scope for network attached storage industry.  Add to it, with digital distribution of media, the business space is observing a slew of new opportunities worldwide. As far as the profitability potential is considered, the global NAS market size is forecast to exceed USD 20 billion by 2024.
 

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