April 5, 2012 – One rising answer to the challenges of broadening data volumes is the investment in network attached storage devices, which one industry assessment anticipates will reach a global market of $7 billion by 2017.
Research firm Global Industry Analysts Inc. on Thursday released “Network Attached Storage Devices: A Global Strategic Business Report,” which outlined the general growth areas and reasons for the online storage architecture. Foremost to the surge in data storage and backup investment is the sheer mass of data produced in the near future. The research firm estimated that information is multiplying at a rate higher than 65 percent each year with the total data generated globally to surpass 3 million petabytes by 2020.
NAS is growing in popularity in part from increased data availability, better server performance and data access, transparency for end users, and lower maintenance costs and platform dependence than with other hardware and on-demand storage options, according to the report.
NAS has grown as an especially attractive storage avenue for small and mid-sized businesses due to its ability to cover core application storage needs for smaller businesses at a lower price point[J1] than some other solutions, making NAS a reasonable option for businesses that have smaller IT budgets. However, more NAS vendors are offering “more advanced large enterprise-centric solutions,” the report stated. Over the next few years, NAS adoption via cloud offerings is expected to “snowball” in growth, and it will undergo increased enterprise deployment as improvements are made with availability, multitenancy and security, the report stated.
Global Industry Analysts point to North America as the largest market, though the firm expects Asia and the Pacific to undergo the most expansive adoption over the next six years, with 14.1 percent compound annual growth by 2017.
To access the report for a fee, click here.