Hybrid
storage solutions have advantages and disadvantages over both on-premise and
remote storage. The hybrid storage solution behaves like a homogeneous storage.
These are virtually transparent and possess mechanisms that keep active and
frequently used data on-premise and move inactive data to the remote
location-based systems.
BFSI held the largest share in Network-Attached
Storage market in terms of value.
BFSI sector,
a highly customer-centric sector, is transforming and adopting new processes to
make its customers avail easy solutions such as mobile applications, online
transactions, and others. A large amount of data is generated every day with
day-to-day financial transactions getting done worldwide. These data from the
customers are very crucial. The security of such data is a big concern for the
banking and financial sector. Network-attached storage devices offer secure
data storage at a lower cost with several scalability options.
Network-Attached Storage Market in APAC is expected
to grow at the second-highest CAGR from 2017 to 2023.
Industrialization,
the growth of small- and medium-sized businesses, and start-ups are major
contributors to the growth of the network-attached storage market in APAC and
RoW. The economic development in Japan and China is very high. Enterprises in
these countries have adopted latest technologies to sustain and grow in the
rigorous competition. To remain competitive in increasing operational
efficiency, operational outcomes, and financial profitability, companies in
this region are investing a lot in upgrading their IT capabilities.
Key Market Players
Dell EMC (US), NetApp, Inc. (US),
Hewlett-Packard Enterprise Company (US), Hitachi Data Systems Corporation (US),
Western Digital Corporation (US), NETGEAR, Inc. (US), Synology, Inc. (Taiwan),
Buffalo Americas (US), Seagate Technology PLC. (US), and QNAP Systems, Inc.
(Taiwan) are some of the leading players in the network-attached storage market
as of 2016.