“The home segment is estimated to grow at a CAGR of 17.4%”, says Visiongain
01 November 2019
Europe Consumer Network Attached Storage (NAS) Market Report 2020-2030: Forecasts by Design (1-Bay, 2-Bay, 3-Bay, 4-Bay, 5-Bay, 6-Bay, Above 6-Bay), By End User (Home, Business), by Country (Germany, UK, France, Spain, Italy) and profiling of leading international and domestic companies. The market size of the Attached Storage European Consumer Network was estimated at USD 950 million in 2018. The market is expected to see significant growth over the forecast period and is driven primarily by an increase in data that needs to be stored effectively and the need for efficient data sharing between users in a network.
NAS is a computer used for computing in a personal or business network. Users are able to access files stored from mobile devices and PCs on a consumer NAS without the need to connect the consumer NAS device to the PC externally. The software provides home users with a wide range of storage options who choose the unit to store high-definition movies, programs, and images. The services can be used within a network by a group of people and as a central server to provide extra hard drive space to multiple users. This is supposed to improve customer experience and increase market demand.
A typical consumer NAS consists of a CPU, a memory chip, and an operating system. It is available in various models of pre-installed drives and diskless NAS, such as NAS. The increased level of security issues around surveillance has paved the way for new regulatory requirements that specify that surveillance videos need to be stored within an organization's network. It is expected that this will boost Europe's consumer NAS market growth.
Due to the increased implementation of consumer NAS as a backup system and media streaming device, the home segment is expected to see significant growth. During the forecast period, the home segment is estimated to grow at a CAGR of 17.4%. Networking ecosystems from server-based models are transforming into data-based models. The increase in the storage, management and retrieval of information has forced consumers to choose network storage rather than server-based storage.
Major factors driving the regional market are the emergence of large-scale technology companies and significant investment in R&D. The UK currently has a significant market share, led by Germany, owing to rising demand and product NAS benefits. It is expected that the growing use of retail NAS by innovation start-ups in the UK would lead to a significant increase in demand for the UK consumer NAS industry. Due to the increasing prevalence of NAS benefits among consumers, the Italy local market is expected to experience a comparatively higher CAGR. The increase in individuals ' purchasing power is projected due to the increase in disposable income
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