Global SMB and SME NAS market set to grow at a CAGR of 33% by 2020, expects Technavio

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This market research report outlines the market size and forecast of the global SMB and SME NAS market and segmentation by type of organization (SOHO users, SMBs, and SMEs). The report highlights the major drivers influencing market growth, as well as the challenges faced by the vendors and the market as a whole. It also outlines the market shares for key regions such as the Americas, APAC, and EMEA along with the market shares of key vendors, including Buffalo Technology, Netgear, QNAP, Seagate, Synology, and Western Digital.

Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020. Companies use NAS systems for backup, archiving, and disaster recovery of data. It can also function as a multimedia, database, or print server for SMEs. Vendors nowadays are continuously designing NAS systems with innovative and many advanced features to meet the growing storage needs of enterprises. The Americas dominate the global market for SMB and SME NAS, accounting for 43% of the overall market share. Much of this region’s growth can be attributed to the adoption of high-end NAS systems that enable up to 1PB of data storage.

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.

“With the expansion of businesses and the entry of new industry verticals, data are growing at an exponential rate. Therefore, with increased data complexity, classification and archiving of these data have become difficult. Businesses expect these data to be easily accessible and be readily available for analysis and decision-making processes in an easy and secure way. And since NAS systems are effective and reliable and store data safely, their adoption is expected to heighten during the next five years,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.

Vendors in the market are offering NAS storage systems that are suitable for analytical purposes and likely to trigger product innovations during the forecast period. Vendors are integrating the existing NAS system with the popular cloud storage services such as Amazon S3. This storage is hosted by a third-party service provider that charges enterprises based on the capacity and bandwidth utilized. Also, such storage can be accessed from anywhere and at any time.

The major players in the global SMB and SME NAS market include Buffalo Technology, Netgear, QNAP, Seagate, Synology, and Western Digital. The increased need for a business to support the data growth and to enable higher performance with support virtualization, backup to the cloud, cross-environmental benefits, and the capability to expand at lower cost are some of the factors that are increasing the competition among the existing vendors in the market.

A more detailed analysis is available in the Technavio report, Global SMB and SME NAS Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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