Consumer NAS: Key market research findings
- Growing need for personal data backup drives market growth
- The Americas dominates the market geographically
- Key vendors – Apple, Buffalo Technology, Netgear, Seagate, Synology, QNAP, and Western Digital
Technavio’s market research analysts predict the global consumer NAS market to grow at a CAGR of around 11% between 2016 and 2020. The growth of this market is spurred by the availability of simplified architecture and compatibility benefits. Customers are provided with a complete guide and support from network-attached storage (NAS) vendors for the installation and configuration of the device. The device comes pre-installed with a vendor-designed OS that delivers a user-friendly interface for configuration. During 2015, the Americas dominated the global consumer NAS market with a market share of around 39%. The growing use of NAS devices such as home storage devices in the region, especially the US, is anticipated to fuel growth in the consumer NAS market in the Americas during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, there has been a noticeable drop in the prices of individual consumer NAS devices. During the forecast period, the price of NAS appliances is likely to decline, offering higher competition in the individual consumer devices market. NAS appliances are mostly being provided by the vendors that are leading the direct-attached storage (DAS) and external hard drives market,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The growing need for personal data backup plays a vital role in the growth of the global consumer NAS market. Personal NAS storage devices assist in storing personal data in the form of documents, photos, and videos. NAS devices offer several features and benefits compared to personal hard drives and are gaining popularity among users because they are a network device that can be connected to many wireless devices for data transfer.
The key vendors in the market include Apple, Buffalo Technology, Netgear, Seagate, Synology, QNAP, and Western Digital. There are several vendors operating in the market. However, the global vendors dominate it. Competition among the existing players is high since the market is dominated by vendors involved in the distribution of their products worldwide. Vendors are focusing on equipping NAS appliances with home entertainment systems.
A more detailed analysis is available in the Technavio report, Global Consumer NAS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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