Consumer and SMB NAS Market Size, Share, Growth, and Industry Analysis, By Type (Backup, Archiving, Disaster Recovery and Others), By Application (Individual Consumers and SOHOs and SMB), Regional Insights, and Forecast To 2032

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CONSUMER AND SMB NAS MARKET REPORT OVERVIEW

The global consumer and smb nas market size was valued at USD 11.73 billion in 2023 and is projected to touch USD 21.54 billion by 2032, at a CAGR of 7% during the forecast period.

The service message block protocol (SMB) and network attached storage (NAS) is a server-based digital storage space system that facilitates the allocation of files between companies employees or consumers. Furthermore, these systems are known to be an autonomous network connection in the local area network (LAN) that is inclusive of individual internet protocol (IP) addresses. Moreover, the required file transferal is conducted through an Ethernet link, which is apportioned amongst consumers or employees and the service message block (SMB) and network attached storage (NAS) systems permit several operators to receive access to the same file in a connected network. Additionally, in an business setting, the service message block (SMB) and network attached storage (NAS) systems are mainly employed for backing up, archiving, and easing recovery for sensitive and vital data in case of a disaster or electronic malfunctions.

Consumer and SMB NAS are split into three diverse types, which are listed as backup, archiving and disaster recovery and other types. Firstly in information technology, the term backup is defined as the procedure of generating a copy of the data on your system that can be consumed for recovery. It is conducted for emergencies such as the initial data could unfortunately be misplaced or distorted, also be consumed as a backup to recover duplicates of dated files if it gets erased them from devices. Secondly, data archiving is the manner of transferring files that are not required. Furthermore, it is also consumed for individual storing systems for lengthy time periods and archive data is inclusive of previous data, which is vital to the user and is held for future uses or requirements. Thirdly, Disaster recovery is basically the duplicating of data and computer data on a different location not linked by the disaster. Such as, servers shut down due to natural disasters, equipment malfunctioning or cyber-attacks. Consumers require to retrieve data from a premise where the data is secondary stored.

COVID-19 Impact: Stringent Lockdown Created Hinders in Supply Channels

The global COVID-19 pandemic has been unprecedented and staggering, with the consumer and SMB NAS market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic led declining and negative impacts to numerous industries and its market, as COVID-19 virus unremittingly propelled globally. However, the outburst also set significant trials to the world economy. Furthermore, the course of COVID-19 worsened, and brought upon a harsh lockdown due to uncountable people being affected and commenced a inelastic supply distribution channels, restricted movements and closure of offices led to the main demand decrease of the consumer and SMB NAS systems, as lesser backing up, archiving of data done in offices and other working areas.

LATEST TRENDS

"Developments in Organic and Inorganic Business Strategies"

Several business are diverting their focus towards organic strategies, which are product inaugurations, product certifications and further such advancements. On the other hand, inorganic approaches are being observed in the market such as acquisitions, partnerships and mergers. Furthermore, the listed strategies have creating diverse pathways for enlargement of organizations and their consumer base. Moreover, manufactures for the consumer and SMB NAS systems are expected to stimulate growth prospects in the current period and foreseeable future with the rising demand in individual consumers, SOHOs, SMB, consumer and SMB NAS market.

CONSUMER AND SMB NAS MARKET SEGMENTATION

• By Type

Based on type; Backup, archiving, disaster recovery and others

Backup is the leading type in this segment

• By Application

Based on application; Individual consumers and SOHOs and SMB

Server message block (SMB) is the leading application in this segment

DRIVING FACTORS

"Rising Demand for Video Surveillance Systems Augments Market Growth"

The current rise in video surveillance systems is due to these digital cameras, capturing and averting objectionable conducts, such as shoplifting and vandalism. Surveillance video are stored on the tapes which are backed up and at times archived. Furthermore, these cameras demand are rising in multiple markets such as finance industries, transportation, retail and other end using consumers. Hence, more people realize the need of surveillance video systems and surge demand for the consumer and SMB NAS services. This leads towards the consumer and SMB NAS market growth.

"Initiated Adoption of Cloud-Based NAS Systems Boosts Market Growth"

Due to the wide spread of the COVID-19 virus, globally uncountable number of employees were forced to work from home. As cloud based NAS systems functions likewise to any on sites NAS found in an on sites data facility, simply the files are gathered in the cloud as similar to a physical NAS arrangement. Furthermore, this makes generates convince for employees working from home to access and modify work files and data, to keep up their working productivity and efficiency. Hence, which also grows the demand and supply while also boosting the consumer and SMB NAS market share.

RESTRAINING FACTORS

"Increased Local Area Network (LAN) Traffic Hinders Market Growth"

As network attached storage (NAS) has been implemented into central, home offices and business centers, it leads to online crowding and jamming. This is accounted for because, immense amounts of file sharing and downloading activities consumes majority of space and network attached storage (NAS) systems, are not able to withstand the usage of thousands of at a time as it leads to transmission errors. On the other hand, this disadvantage is set to hamper the market growth in the current forecasted period.

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CONSUMER AND SMB NAS MARKET REGIONAL INSIGHTS

"North America Holding onto Leading Market Position "

North American region rules the consumer and SMB NAS industry, due to having the highest amount of industries using consumer SMB NAS systems. As in manufacturing, banking and financial services industries due to consumption of surveillance cameras, cloud based NAS and larger LAN connectivity. Furthermore, this region was the most affected by COVID-19 and had more number of users implementing the consumer and SMB NAS services. Hence, these applications lead to the overall growth of the market in the North American region

KEY INDUSTRY PLAYERS

"Key Players Spread Awareness of Consumer and SMB NAS Services"

The key market players look to boost the awareness levels in the market for NAS and SMB systems due to, the unprecedented lockdown employing people to work from home. Furthermore, they using strength, weaknesses, opportunities and threats (SWOT) analysis to understand and work in favor of the market dynamics to reach maximum amount of consumers Additionally, the key players also advertise the system’s uses and raise its awareness in the market.

List Of Top Consumer and SMB NAS Companies

• Apple (U.S.)
• Buffalo Technology (Japan)
• Netgear (U.S.)
• QNAP (Taiwan)
• Seagate (U.S.)
• HP (U.S.)
• Synology (Taiwan)
• Western Digital (U.S.)
• Asustor (Taiwan)
• Dell (U.S.)
• D-Link (Taiwan)
• Drobo (U.S.)
• LeCie (Seagate) (France)
• Thecus (Taiwan)
• Transporter (India)
• Zyxel (Taiwan)

REPORT COVERAGE

The report is inclusive of and highlights aspects influencing consumer and SMB NAS market from both demand and supply perspectives and furthermore, helps to understand the fluctuating market dynamics and its impacts upon the market during the forecast period. Additionally, mentioning the products driving and restraints factors, opportunities, and current trend. The report also providesthe knowledge on the leading region and its strategies to achieve the claim.