Global NAS Market Set to Grow at 15.4% CAGR Through 2032 Amid IoT and 5G Expansion

According to the latest market research study published by P&S Intelligence, the global network attached storage market reached USD 26.8 billion in 2024 and is projected to expand to USD 83.4 billion by 2032, at a CAGR of 15.4% from 2025 to 2032. Fueling this growth is the surge of unstructured data—around 80% of all digital information by 2025—stemming from proliferation of smart devices, IoT, and 5G networks. Moreover, the pandemic-driven shift toward hybrid and remote work models has further increased demand for NAS solutions that ensure 24/7 remote data availability. These dynamics are driving organizations to adopt scalable, secure NAS systems capable of handling massive volumes of multimedia, sensor, and machine-generated data.

Key Insights

• Study period covers 2019–2032, offering comprehensive analysis of market evolution.
• The NAS landscape is highly fragmented, with no single vendor dominating.
• North America led the market in 2024, capturing 40% of global revenue.
• Asia‑Pacific (APAC) is the fastest-growing region, forecasted at a 17% CAGR, driven by rising use of smart devices across India, China, Japan, South Korea, and Malaysia.
• Deployment segment analysis:
• On‑premise systems held the largest share at 60% in 2024, preferred for high security and local control.
• Hybrid deployments are expected to grow fastest, at a 15.5% CAGR, as enterprises combine on-site and cloud storage for flexibility and resilience.
• Product type segmentation shows:
• Midmarket NAS dominated with a 55% share in 2024, popular among SMEs for its cost-effectiveness and ease of management.
• Enterprise/high-end NAS is the fastest-growing category, driven by larger organizations seeking resilience and scalability.
• Storage solutions:
• Scale‑up storage held the largest slice at 65% in 2024, ideal for environments needing incremental capacity expansion.
• Scale‑out storage leads in growth, expected at 16% CAGR, catering to high-performance and low-latency workloads in large enterprises and critical sectors.
• End-user sector insights:
• Telecom & IT dominated with a 50% share in 2024, driven by demand for data mobility, virtualization, and reliable backup.
• The healthcare segment is poised for fastest growth with a 16.5% CAGR, as hospitals and clinics digitize records, imaging, and telemedicine services.
• Regional dynamics further reveal:
• North America’s leadership is supported by strong cloud investments, R&D, and IoT adoption.
• APAC growth is fueled by smart device proliferation, MSME digitalisation (98% of enterprises), and government initiatives in nations like India.
• Competitive landscape:
• Key players include Dell Technologies, Hewlett Packard Enterprise, Huawei, IBM, Western Digital, NetApp, Hitachi, Seagate, Synology, QNAP, NETGEAR, and Buffalo.
• Market share is concentrated among top-tier vendors, leveraging R&D, AI-enhanced NAS, and cloud-integration to maintain dominance.

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