rising need for data backup and redundancy with surge in digital transformations is driving the Network Attached Storage (Nas) Market
Technavio analyzes that the Network Attached Storage (Nas) Market is expected to grow at a CAGR of 8.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 17374.9 million.There are various factors that contribute to the growth of the market.ai_driver_list_1
The on-premises segment of the Network Attached Storage (NAS) market is projected to experience significant growth in terms of revenue, surpassing the cloud segment during the forecast period. This segment is anticipated to dominate the market and hold a substantial share due to its adoption by large enterprises with a global presence. These organizations prioritize on-premises NAS solutions for enhanced control and ownership over their data security. Moreover, the application of advanced technologies like artificial intelligence (AI) and machine learning (ML) for analyzing large, sensitive data sets further reinforces the preference for on-premises deployment over cloud solutions.
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Network Attached Storage (Nas) Market Segmentation
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Network-attached storage (NAS) is a data storage solution that connects hard disc drives directly to a computer network, enabling multiple digital devices, including computers, cellphones, tablets, laptops, smartphones, enterprise desktops, and personal computers, to access and share digital data. With the increasing digitalization of various industries such as healthcare, finance, broadcasting environments, and more, the demand for secure and high-performance data storage solutions has surged. NAS devices offer enhanced data security features, making them an ideal choice for businesses and individuals seeking to protect their digital assets. The integration of high-speed transport protocols like Gigabit Ethernet ensures seamless data transfer and access. The advent of 5G and 4G networks has further expanded the potential of NAS, enabling real-time access to data from anywhere, at any time. The integration of emerging technologies like Augmented Reality (AR), 3D Smart Glasses, and Voice Assistance in NAS devices adds to their appeal, making them an essential component of the modern digital landscape. Moreover, NAS devices offer an alternative to cloud storage services like OneDrive, providing businesses and individuals with more control over their data while offering the same level of convenience and accessibility. In high-performance computing (HPC) environments, NAS plays a crucial role in data storage and management, particularly in video data storage and other data-intensive applications.
The Nas market is a significant segment of the expansive global IT services industry, specifically falling under the category of infrastructure services. This market encompasses businesses that provide Network Attached Storage solutions and related services. The global Internet services and infrastructure market, a super sector within IT services, comprises companies engaged in the provision of various Internet-related offerings, such as data centers, cloud networking and storage infrastructure, hosting services, IT security services, and cloud computing services. The market size is determined by Technavio based on the consolidated revenue generated by these companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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