Consumer Network Attached Storage Market

Consumer Network Attached Storage Market Outlook for 2024 to 2034

The consumer network attached storage market is estimated to be valued at USD 6.6 billion in 2024. The consumer network attached storage market is expected to reach USD 16.9 billion by 2034, developing at a CAGR of 9.9%.

Consumer network attached storage devices are increasingly utilized for storing and streaming media content within homes, catering to the demand for high-resolution videos, music libraries, and larger file sizes. With the proliferation of 4K and higher resolution content, NAS systems are adapting to provide ample storage and seamless playback.

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. Increasing utilization of network attached storage systems is another potential driver for small and medium enterprises, especially in emerging economies.

Benefits such as lower cost of ownership and a higher Return on Information Management offered by network attached storage devices are expected to further drive the growth of the small and medium enterprises segment. With the integration of high performance backup, restore capability, and device sharing, several performance issues can be alleviated.

Consumer Network Attached Storage Market Trend Analysis

• The demand for consumer network-attached storage solutions is growing as network-attached systems provide higher data manageability and scalability for handling and storing data.
• The rising digital transformation in business are expected to boost the consumer network-attached storage market during the forecast period.

Attributes	Key Insights
Consumer Network Attached Storage Market Estimated Size in 2024	USD 6.6 billion
Projected Market Value in 2034	USD 16.9 billion
Value-based CAGR from 2024 to 2034	9.9%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Consumer network attached storage systems started incorporating multimedia capabilities, including media streaming, DLNA support, and multimedia server functionalities. This attracted users seeking home entertainment solutions.

Manufacturers began introducing more affordable and user-friendly consumer NAS solutions aimed at home users. These devices focused on basic storage and file-sharing capabilities.

Consumer NAS market will likely revolve around enhancing user experience, security, integration with emerging technologies, and adapting to the evolving needs of consumers in an increasingly connected world. The demand for consumer network attached storage is projected to rise at a CAGR of 9.9% from 2024 to 2034.

Market Value in 2023	USD 6.1 billion
Market Value in 2034	USD 16.9 billion

Consumer Network Attached Storage Market Growth Drivers

• Rise of digital content consumption, including high-resolution videos, photos, and large files, consumers require more storage space. NAS systems provide a centralized, scalable solution for managing this data.
• Consumers are increasingly using NAS devices to store and stream multimedia content like movies, music, and videos to various devices within their homes. The demand for media server capabilities has contributed to the growth of consumer network attached storage in the consumer market.
• Growing concerns about data privacy and security have prompted consumers to seek more control over their data. NAS systems offer greater control compared to cloud-based storage solutions, appealing to privacy-conscious users.
• The increasing adoption of Internet of Things (IoT) devices generates vast amounts of data at home. NAS solutions can effectively manage and store data generated by these devices.
• Gamers and enthusiasts use NAS devices as home servers for game libraries, file sharing, and multimedia streaming, contributing to the growth in the consumer market.

Consumer Network Attached Storage Market Restraints

• Many consumers may not fully understand the advantages and functionalities offered by NAS systems compared to traditional storage solutions. Lack of awareness and education about NAS capabilities can hinder market growth.
• NAS devices offer control over data, they also require users to take responsibility for security measures such as updates, firewalls, and user access controls. Inadequate security practices could expose data to risks, leading to concerns among consumers.
• For budget-conscious consumers, the initial cost of a NAS setup might be a deterrent.
• Shifts in consumer preferences towards all-in-one devices or integrated solutions that combine storage with other functionalities might reduce the demand for standalone NAS systems.

Country-wise Analysis

The following table shows the top five countries by revenue, led by Australia and Japan. Consumer network-attached storage systems provide flexibility in terms of storage capacity, RAID configurations, and software options. Consumers appreciate the ability to tailor these systems to their specific needs driving their demand in various countries. These two countries are predicted to boost their consumer network attached storage services efforts through 2034.

Countries	Forecast CAGRs from 2024 to 2034
Japan	11.1%
The United States	7.7%
China	10.4%
Australia	13.4%
Germany	9.4%

The Smart Technology Adoption Drive the Consumer Network Attached Storage Market in United States

The United States is expected to witness a CAGR of 7.7% in consumer network attached storage market by 2034. The consumer network-attached storage market in United states is growing due to increased investment in wireless technology by both private and public companies in the country.

The increased consumption of high-quality media content, including 4K videos and high-resolution images, drives the need for robust storage solutions like NAS to store and stream this content within households. The rising shift to remote work setups has increased the demand for consumer network attached storage devices as centralized storage hubs for remote file access and collaboration among family members or remote work teams.

The Gaming and Entertainment Culture in China Drive the Market Growth

Consumer network attached storage market in China has seen substantial growth due to the growing adoption of high-definition multimedia content, online gaming, and content creation has resulted in a surge in data storage requirements among consumers in China. The consumer network attached storage market in China is projected to rise at a CAGR of 10.4% from 2024 to 2034.

The flourishing e-commerce industry and the digitalization of services have led to a surge in data storage requirements for online businesses and entrepreneurs, driving market demand in China.

Digital Transformation and Data Consumption Drive the Market Growth in Germany

The consumer network attached storage market growth in Germany is attributed to rising demand for storage solutions stems from increased digital content consumption, including high-resolution media, data-heavy applications, and online services. The consumer network attached storage market in Germany is projected to rise at a CAGR of 9.4% from 2024 to 2034.

Consumer network attached storage systems offer users more control over their data, appealing to German consumers who prioritize data privacy and security. Consumers often value eco-friendly and energy-efficient products. Consumer network attached storage systems that align with these values gain traction in the market.

Technological Advances in Japan to Boost the Market Growth

Consumer network attached storage market in Japan is expected to grow with a CAGR of 11.1% during 2024 to 2034.The presence of tech-savvy population with a high demand for storing and streaming multimedia content, including high-resolution videos, anime, and music drive the demand for consumer network attached storage market in Japan.

Consumers in the country prioritize data security and privacy, making consumer network attached storage systems appealing due to their local storage and control features.

Increasing Digital Content Consumption in Germany is expected to Boost the Market Demand

The demand for consumer network attached storage is expected to rise in Australia. By 2034, the market is expected to expand at a CAGR of 13.4%.   Increasing digital content consumption, including high-definition videos, gaming, and multimedia content, driving the need for ample storage solutions in Australia. 

Government initiatives supporting digital transformation across sectors contribute to the demand for storage solutions like consumer network attached storage. Service providers in the country  introducing  advanced features, improved performance, and a variety of models to suit different consumer preferences driving the market growth.

Category-wise Insights

The 4 bays segment will dominate until 2034, with a market share of 29.2%. 4 bays offer a level of scalability, enabling users to start with fewer drives and easily expand the storage capacity.

The business segment is expected to have a share of 58.9%. Consumer network attached storage systems offer businesses greater control over their data, ensuring higher levels of security compared to cloud-based storage options.

Category	Market share
4-Bays	29.2%
Business	58.9%

4-bays Segment to Remain Most Popular

The 4-bays segment held a significant market share of 29.2% in 2024. Consumers require more storage space with the growing consumption of digital media, including high-resolution photos and videos. A 4-bay NAS balances capacity and convenience, allowing users to expand their storage needs while maintaining a manageable size.

A 4-bay NAS allows users to have a balance between storage capacity and redundancy. It provides a significant amount of storage while offering RAID configurations for data protection. Four-bay NAS devices strike a balance between size and capacity, making them suitable for placement in homes or small offices without taking up excessive space.

Business Segment Driving Growth with a Sizeable Market Share

The business segment dominated the market with a revenue share of 58.9% in 2024. Small businesses often need reliable data management and backup solutions. Growth of this segment is attributed to increasing adoption of consumer network attached storage systems as they offer features such as easy installation and efficient backup.

Consumer network attached storage (NAS) devices offer an accessible way for these businesses to store and protect their critical data, including financial records, customer information, and business documents.

Competitive Landscape

The consumer network-attached storage (NAS) market is fragmented. Historically, the main players dominated the consumer network-attached storage (NAS) market. Businesses' increased demand for data storage is drawing a slew of new participants to the industry, making it more competitive.

Key players operating in the consumer network attached storage market

• Synology Inc.
• NETGEAR
• QNAP Systems Inc.
• Western Digital Corporation
• ASUSTOR Inc.
• Buffalo Americas Inc.
• Thecus.COM
• Zyxel

Some of the developments from the market are given below

• In January 2023, QNAP Systems, Inc., a computing, networking, and storage solutions company, unveiled a series of groundbreaking NAS solutions that embrace cutting-edge storage interfaces and technologies. This advancement meets the demands of performance-intensive video production and enhances serviceability.
• In March 2021, the Hitachi VSP 5000 was launched - an innovation that redefines storage. This remarkable NVMe flash array stands as the world's fastest, setting new benchmarks in performance. Its versatility shines through with support for various workloads, from mainframes to container environments. Combining mixed NVMe and SAS technologies achieves a fine balance between optimized performance and workload cost efficiency.

Report Scope

Attributes	Details
Estimated Market Size in 2024	USD 6.6 billion
Projected Market Valuation in 2034	USD 16.9 billion
Value-based CAGR 2024 to 2034	9.9%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa
Key Market Segments Covered	Design, End User, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Companies Profiled	Synology Inc.; NETGEAR; Western Digital Corporation; QNAP Systems, Inc.; ASUSTOR Inc.; Buffalo Americas Inc.; Thecus.COM; Zyxel

Consumer Network Attached storage Market Key Segments

By Design:

• 1-Bay
• 2-Bays
• 4-Bays
• 5-Bays
• 6-Bays
• Above 6 Bays

By End User:

• Home
• Business

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

Frequently Asked Questions

What is the expected worth of the consumer network attached storage market in 2024?

As of 2024, the market for consumer network attached storage is expected to be valued at USD 6.6 billion, as per FMI.

According to FMI, what is the anticipated market value for consumer network attached storage in 2034?

By 2034, the market value of consumer network attached storage is expected to reach USD 16.9 billion.

What is the projected forecast CAGR for the consumer network attached storage market from 2024 to 2034?

From 2024 to 2034, consumer network attached storage market is expected to account for a CAGR of 9.9%

Based on design, which segment dominates the consumer network attached storage market?

The 4-bays segment is expected to account for a market share of 29.2% in 2024.

Which country is likely to be at the pinnacle of the market?

The Australia is likely the top-performing market with a CAGR of 13.4%.