Network attached storage market in Asia Pacific to grow at 20% CAGR from 2019 to 2025 - PowerPoint PPT Presentation

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Network attached storage market in Asia Pacific to grow at 20% CAGR from 2019 to 2025


Some of the key players operating in the Network attached storage market are Netgear, Buffalo Americas, QNAP, Western digital, Thecus Technology, Hitachi Data Systems Corporation, Synology, DELL EMC, Seagate – PowerPoint PPT presentation

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Title: Network attached storage market in Asia Pacific to grow at 20% CAGR from 2019 to 2025

Network attached storage market to grow at 20
CAGR from 2019 to 2024 Global Market Insights,
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
Overview of Network Attached Storage Market
  • The Asia Pacific Network Attached Storage Market
    is projected to register an excellent growth with
    a CAGR of around 30 between 2019 and 2025. The
    growing adoption of the IoT and IIoT due to
    increasing internet penetration coupled with the
    proliferation of smartphones is fueling the
    market. The presence of prominent automotive
    players in the countries including Japan, South
    Korea, and India is contributing immensely to the
    Network Attached Storage Market growth.
    Additionally, this growth can be attributed to
    the rapidly evolving e-commerce ecosystem along
    with heavy investments from venture capitalists
    to leverage the growing demand for the online
    market. In 2017-2018, the retail shrinkage
    percentage of sales in the Asia Pacific region
    was estimated at around 1.75, amounting to
    nearly USD 24 billion.
  • The Network Attached Storage Market growth is
    attributed to the increasing adoption of the IoT
    and IIoT and the rapidly growing digitalization
    in manufacturing, automotive, and healthcare
    industries. The continuously rising adoption of
    the IoT that is empowered backed by 3D
    simulation, deep learning, Artificial
    Intelligence (AI), and big data analytics will
    help in the cost-effective implementation of
    digital twin in aerospace defense, healthcare,
    and retail consumer goods sectors. The digital
    twin enables real-time and predictive analytics,
    helping in cost time savings. For instance, in
    the aviation sector, GE helps its client
    companies in understanding airline routes,
    dynamic optimization of maintenance schedule of
    jet engines, and maintenance shop availability
    through digital twin with the help of its Predix

  • The rising demand for reducing asset downtime,
    optimizing process time, reducing time-to-market,
    reducing asset downtime, and improving
    operational efficiency is proliferating the
    growth of the Network Attached Storage Market.
    The supportive government initiatives related to
    the construction of smart cities and
    energy-efficient smart buildings are anticipated
    to drive the market over the forecast timeline.
    For instance, in January 2018, the Singapore
    government invested approximately USD 73 million
    in data-rich, live digital twin of the Singapore
    city. This will help officials make the best
    urban planning decisions and communicate with
    citizens by sharing information visually.
  • The process support service application are
    anticipated to exhibit a lucrative growth at a
    CAGR of over 30 between 2019 and 2025. This
    application include inventory management services
    and supply chain management services. The use of
    digital twin in these application enables
    effective inventory optimization by allowing
    organizations to reduce inventory up to a
    considerable percentage to free up the working
    capital from unnecessary inventory buffers. This
    also facilitates reduced inventory carrying costs
    and increased customer service performance.


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  • The healthcare sector is anticipated to hold a
    significant market share in the Network Attached
    Storage Market. The digital twin offers real-time
    monitoring analytics with machine learning and
    helps to streamline operations processes in
    hospitals, improving customer experience. For
    instance, a single MRI scanner produces an
    average of 800,000 log messages, which reflects
    how a system works technically. The proactive
    remote monitoring services with the digital twin
    of MRI scanner will help to track analyze these
    log messages for early warning signs of impending
    technical issues.
  • The manufacturing sector is expected to secure a
    market share of over 25 in Network Attached
    Storage Market by 2025. This impressive growth is
    attributed to the robust growth of the
    manufacturing sector after Industry 4.0 and the
    emergence of automation systems in the
    manufacturing sector to rapidly increase
    production capacities. According to the World
    Bank, manufacturing globally contributed to 16
    of the total economic value in 2016. This steady
    growth of the sector is expected to further fuel
    the demand for digital twin to streamline and
    optimize the manufacturing process flows.

  • The companies operating in the Network Attached
    Storage Market are focusing on technological
    innovations, strategic acquisitions, and mergers
    to strengthen their market position and acquire
    new customers. For instance, in May 2019, Bentley
    Systems acquired Keynetix, a UK-based provider of
    cloud-based software for capturing, modeling,
    visualizing, and sharing geotechnical data to
    build subsurface digital twins. These models of
    underground assets and environments for
    infrastructure projects will be easily monitored
    in real-time.
  • Some of the key players operating in the Network
    Attached Storage Market are ABB Group, Ansys
    Inc., Autodesk Inc., Dassault Systèmes, General
    Electric, IBM Corporation, Microsoft Corporation,
    Oracle Corporation, Robert Bosch GmbH, SAP SE,
    Siemens AG, and Wipro Limited.

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