Global consumer nas market 2011-2015
The Consumer NAS market is expected to witness substantial growth over the next five years. The increased reliance on data storage devices has resulted in a variety of technological innovations. These devices provide users with convenient access to data from PCs, mobile devices, and other sources. The growing use of Consumer NAS in the workplace and at home has led to a proliferation of innovative offerings. While some of these innovations have limited market size, others have been able to drive growth in the Consumer NAS market.
Large technology companies have been driving the growth of the Consumer NAS market in North America, where it accounts for a large share of the overall market. Europe is the next largest market for network attached storage. In the U.S., growing penetration of consumer electronics and increasing number of startups is driving the market growth in the country. Furthermore, the global consumer NAS market is expected to expand at a 51.1% CAGR during the period of 2011-2015.
The growth of the Global Consumer NAS market is being boosted by increasing disposable income and increased acceptance of advanced technology. The need for surveillance is also increasing and this is driving the market growth. Consumer Network Attached Storage devices are a combination of a central processing unit (CPU), memory units, and operating systems. Apart from storing data, Consumer NAS appliances can also be used to back up connected devices or store media libraries. Furthermore, NAS appliances enable configuration through connected devices, so that users can easily customize the device without a computer.
NAS and Open SAN solutions were the fastest growing segments in the market in 2011.
EMC accounted for 28.7% of the overall market while IBM, HP, and Hitachi accounted for the rest. According to IDC, the NAS and Open SAN solutions segment recorded growth of 8.2% from 2010 to 2011. In terms of revenue, EMC is currently leading the global NAS market with a 48.2% share, while NetApp holds a 27.3% share.
Cloud-based services have also emerged as a significant threat to the consumer NAS market. As a result, several organizations have migrated to cloud-based solutions to benefit from increased security, flexibility, and resilience. Cloud-based solutions also offer competitive pricing. As a result, many cloud service providers are offering flexible payment options and free trials of up to a year. While NAS devices and cloud services have similar capabilities, they are less expensive and depend on a network.