Consumer Network Attached Storage Market : Insights into the Competitive Scenario of the Market

Small and medium enterprises segment expected to remain dominant through 2024 in the global consumer network attached storage market

Presently, the small and medium enterprises segment accounts for comparatively higher revenue share in the global consumer network attached storage market. In terms of revenue, small and medium enterprises is projected to be the most attractive segment in the global consumer network attached storage market during the assessment period.

Small and medium enterprises segment is estimated to be valued at more than US$ 1,000 Mn in 2017 and is expected to remain dominant by 2024 end, accounting for close to 60% of the global market revenue share.

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Residential and small and medium enterprises segments are expected to lead the global consumer network attached storage market throughout the forecast period

Growing popularity of network attached storage to attain cost-effective solutions for data storage and increase in adoption of network attached storage systems by small and medium enterprises is the major factor likely to result in high revenue growth in the small and medium enterprises end user segment during the predicted period.

Deployment of network attached storage systems can facilitate the reduction in total cost of ownership for enterprises and small business owners. Management of a centralized storage location is more cost-effective than managing traditional client/server storage models.

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With computing environments making a paradigm shift from server-centric to data-centric models, efficient access to shared data resources is becoming critical. This prolific growth in information that needs to be stored, managed, maintained, and retrieved has compelled consumers to make storage decisions separate from server decisions. This, in turn, is driving the growth of both the residential and small and medium enterprises segments.

In terms of revenue, small and medium enterprises segment is projected to be the most attractive segment in the North America consumer network attached storage market during the calculated period. The residential end user segment in North America is expected to register high Year-on-Year growth rates throughout the forecast period and is expected to expand at a CAGR of 14.5% between 2016 and 2024.

In Latin America, the small and medium enterprises segment is expected to register high Y-o-Y growth rates throughout the forecast period and is expected to expand at a CAGR of 12.3% between 2016 and 2024.

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