Network Accessible Storage (NAS) Landscape
October 2, 2022
Abdul Aziz Khaja, Chihkao Yu, Gyongsu Lee, Igor Rubinchik, Nick Vlku
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Abstract
Network accessible storage (NAS) devices are currently sold by a variety of vendors. A NAS is essentially a hard drive and computer whose sole purpose is to provide storage for a local network. These products solve a relatively niche problem today, essentially transport of large files and primitive backup functionality. Whereas they are sold by many vendors, the products themselves are not well differentiated. The product itself currently has a market size of around $14.74B with an expected growth towards $54.57B in 2027. We believe there is an opportunity to blow this market up by creating smarter functionality in the product, We believe the market is posed for hyper growth with a strong opportunity for true product differentiation by becoming the center of the Personal Cloud movement. This is functionality that allows customers to essentially truly own their data and share it without a large technology company. The estimated market size for Personal Cloud functionality (including online and hardware based) is around $26.8B with expected growth towards $161.39B in 2027. A vendor that can leverage this has a real opportunity to take home the personal cloud market which currently has very small niche players.
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