Consumer network attached storage market has witnessed increased adoption worldwide over the past few years. This owes to the ineffectiveness of traditional storage systems in processing the huge volumes of data. Managing larger amount of data devolution becomes complex several times. This factor has driven the network attached storage providers to focus on more innovated and advanced systems. These servers enable easier remote eventually providing convenience to the consumers mainly for the users who demand reasonable storage costs and enhanced efficiency. These systems help to attain profitable solutions for data storage. In addition, small and medium enterprises are displaying interest in these systems significantly over the past few years, therefore, fueling its demand considerably.
Consumers Network Attached Storage Are Extremely Cost Effective
The design of consumer network attached storage systems are expected to play a fundamental role in the global market expansion. Intensifying utilization of network attached storage is another major factor stimulating its market demand. Smaller organizations are also increasingly adopting such solutions on the rapid basis. Benefits such as centralized control efficiently help these organizations to distribute the consolidate data across the organization. These systems have the adequate flexibility to share volume among multiple hosts, thus, this factor is growing its recognition among small and medium size industries. Deployment of these systems helps enable the reduction of total cost of ownership for small business owners and enterprises. Higher cost proficiency of these systems, when compared to the traditional designs, is significantly contributing to the growth. This owes to the lower costs of these systems as they are equipped with consolidated storage devices.
MEA Region to Observe Most Lucrative CAGR in the coming times
During the forecast period, revenues from small and medium enterprises with the adoption of NAS systems is anticipated to consume for the largest shares in North America market. On the other hand, the residential end user segment in North America will rise at a CAGR of 14.5% between 2016 and 2024. Furthermore, the small and medium enterprises segment in Latin America is projected to record high Y-o-Y growth rates during the predictable period. It will further expand at a CAGR of 12.3% throughout the forecast period.
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The residential segment is estimated to record high Year-on-Year growth rates in the near future in the APAC region. It will grow at the lucrative CAGR of 13.9% between 2016 and 2024 in the aforementioned region. On the other hand, the Middle East and Africa (MEA) is expected to grow at the lucrative pace. According to the estimations, adoption rates for NAS storage systems are extremely high in this region and are projected to rise rapidly in the coming times. The market in this region will rise at the strong value CAGR of 14.2%. The market will significantly magnify in the coming times in regions including Latin America and Europe. Global companies leading the market for consumer network attached storage comprise NEC Corporation, Western Digital Corporation, ASUSTOR Inc., Drobo Inc. and Seagate Technology PLC.