ChannelLife New Zealand logo
Industry insider news for New Zealand's technology resellers
Story image

APAC network-attached storage revenue to reach $8.9 billion

By Shannon Williams
Fri 18 Sep 2020
FYI, this story is more than a year old

Network-attached storage revenue in the Asia Pacific region is set to reach US$8.9 billion in 2024, according to new forecasts from GlobalData.

The data and analytics firm says network-attached storage, or NAS, has emerged as a viable alternative to the traditional storage mechanism in the Asia Pacific (APAC) region by offering enterprises with an easy and cost-effective option for storing and handling high data volumes. 

As a result, network-attached storage revenue in the region is estimated to grow at a compound annual growth rate (CAGR) of 3.1% during 2019-2024 to reach US$8.9bn in 2024.

"The revenue growth of network attached storage in the region will be driven by an increase in the data volume from growing Internet penetration and enterprises becoming more data-centric to analyse the insights and patterns for decision-making processes," says Shamim Khan, senior technology analyst at GlobalData.

"This sheer data volume storage to be leveraged simultaneously for enterprise-wide applications will require advanced storage and accessibility features as available in a network-attached storage mechanism," she explains.

According to Khan, an analysis of GlobalData's Market Opportunity Forecast Model reveals that banking, financial services and insurance (BFSI), along with manufacturing, energy, information technology and retail will be the top five verticals accounting for 47.3% of the overall NAS revenue in the region in 2024.

 "Factors such as growth in the demand for digital banking support (online banking, mobile applications and mobile wallets), increasing usage of solutions like artificial intelligence (AI), blockchain and chatbots to drive business and process efficiency, and simultaneous accessibility support option are expected to further result in the increased demand for a robust and distributed access support feature as provided by NAS," Khan says.

"As a result, the BFSI sector is projected to have a 14.9% share in the total NAS revenue in 2024."

According to the GlobalData forecast, manufacturing sectors' contribution to the network attached storage revenue is projected to reach 13% in 2024 as countries such as China, India and Vietnam are prominent manufacturing hubs in the region. 

Increased usage of automation systems in factories is creating a huge demand for easy accessibility of data and NAS could be the answer to all these requirements, GlobalData says.

"Asia Pacific being home to leading emerging economies, increasing demand for unstructured data such as surveillance in smart city projects, surge in eCommerce user base and growing projects on AI will help in the growth of network-attached storage over the next five years," says Khan.

Related stories
Top stories
Story image
Microsoft
New Relic enters multi-year partnership with Microsoft Azure
New Relic has announced a strategic partnership with Microsoft to help enterprises accelerate cloud migration and multi-cloud initiatives. 
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
Cybersecurity
Noname Security partners with Netpoleon to target API issues
Specialist API security firm Noname Security has appointed Netpoleon as its distributor in Australia and New Zealand.
Story image
Digital Transformation
Pluralsight and Ingram Micro Cloud team up on cloud initiative
Pluralsight has teamed with Ingram Micro Cloud to build upon cloud competence and maturity internally, and externally support partners’ capabilities.
Story image
IT budget
$20m boost for digital technologies announced
The government is spending an extra $20m over four years on its plan to transform the digital technologies industry.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
Cybersecurity
NCSC advisory highlights poor security configurations
The GCSB's National Cyber Security Centre (NCSC) has released a cyber security advisory identifying commonly exploited controls and practices.
Story image
Vodafone
Vodafone NZ buys remaining stake in retail joint venture
Vodafone New Zealand has purchased the remaining 50% stake in the specialist joint venture (JV) with private equity company Millennium Corp.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Mobility
Tyson Beckford partners with Element Case on new AppleWatch band
Celebrity Tyson Beckford has collaborated with STM Brands' Element Case brand to create a rugged new accessory.
Story image
Remote Working
How zero trust and SD-WANs can support productive remote working
The way people connect with applications and data has changed, users are remotely accessing resources that could be stored anywhere from a corporate data center to the cloud.
Story image
Gaming
Mastercard users can now use rewards points in gaming
Mastercard has launched Mastercard Gamer Xchange (MGX), allowing APAC consumers to convert their rewards points into gaming currency.
Story image
Wireless
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Story image
Lightspeed
Lightspeed launches all-in-one marketing platform in A/NZ
ECommerce provider, Lightspeed has launched a new all-in-one marketing solution, Lightspeed Marketing & Loyalty in Australia and New Zealand.
Story image
Digital Transformation
How to modernise legacy apps without compromising security
At a time when digital transformation has become central to business, even the most important applications come with a ‘use-by’ date.
Story image
Cybersecurity
Managed service providers: effective scoping to avoid costly vendor pitfalls
Managed security services are outsourced services focusing on the security and resilience of business networks.
Story image
Review
Hands-on review: MSI MPG Z690 Carbon WIFI motherboard
It’s all change with Intel’s 12th generation CPUs. We have a new chipset in the 600-series, a new socket with the LGA 1700, and new DDR5 memory.
Story image
Wireless
Sony to bring new 1000X series WH-1000XM5 headphones to the market
Sony has announced the newest edition of its award-winning wireless headphones, with the 1000X series WH-1000XM5 noise-cancelling model.
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
Cybersecurity
The 'A-B-C' of effective application security
Software applications have been a key tool for businesses for decades, but the way they are designed and operated has changed during the past few years.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Wireless
Hands-on review: Technics EAH-A800 Noise Cancelling Wireless Headphones
Designed in Osaka, Japan, these headphones just exude quality. They aren’t heavy, but they feel well built and solid.
Story image
Collaboration
Meadows exits Ingram Micro New Zealand on a good note
We look at the resignation of Danny Meadows from Ingram Micro's New Zealand Unified Communications & Collaboration business unit.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Workato
Workato unveils enhancements to enterprise automation platform
"The extra layer of protection with EKM, zero-logging, and hourly key rotation gives customers a lot more visibility and control over more sensitive data."
Story image
Cybersecurity
BlackBerry offers Kaspersky replacement cybersecurity for the channel
BlackBerry advises that users of Kaspersky software in Australia and New Zealand undertake a rigorous risk analysis of their current security posture.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
WolfVision
WolfVision announces new range of visualisers
WolfVision has announced a new range of visualisers to help meet multiple industry demands for remote learning and educational solutions.
Story image
Fortinet
Fortinet's Security Fabric hits new record for integrations
The Fortinet Security Fabric has surpassed 500 technology integrations with more than 300 Fabric-Ready Technology Alliance Partners.
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Phishing
KnowBe4 celebrates reaching 50,000 customers worldwide
KnowBe4 has reached the milestone of 50,000 customers, adding nearly 2,500 in the first quarter of 2022 alone.
Story image
Application Performance Monitoring / APM
Why SolarWinds Partners will have big wins in 2022
We summarise the key recent changes that the monitoring software vendor has made to accelerate its channel business.
Story image
Apple
Apple previews new features for users with disabilities
Apple says new software features that offer users with disabilities new tools for navigation, health and communication, are set to come out later this year.
Story image
Hawaiki Cable
BW Digital completes acquisition of Hawaiki Submarine Cable
BW Digital has completed its full acquisition of Hawaiki Submarine Cable, with all applicable regulatory filings and approvals now received.
Story image
Commerce Commission
ComCom appeals $2.25 million fine in Vodafone FibreX case
The Commerce Commission has filed an appeal in the High Court against a $2.25 million fine imposed on Vodafone NZ for its offending under the Fair Trading Act.
Story image
Fonterra
Fonterra to use automated guided vehicles by Dematic
New Zealand's dairy giant Fonterra is upgrading its manufacturing facility in Edendale with new automated guided vehicles (AGVs) from Dematic.
Story image
Nozomi Networks
Nozomi Networks, Siemens reveal software integration
Nozomi Networks and Siemens have extended their partnership by embedding Nozomi Networks’ software into the Siemens Scalance LPE local processing engine.
Story image
Commerce Commission
ComCom welcomes new marketing codes for the telecom industry
The Commerce Commission is welcoming the creation of new marketing codes for the telecommunications industry.
Story image
PaaS
New digital traffic light system to tackle construction defects
Smarter Defects Management launches its PaaS digital system and says it will revolutionise managing defects in the construction industry.
Story image
Microsoft
Microsoft backing Māori and Pacific wāhine in tech industry
A new initiative focused on getting Māori and Pacific wāhine into the tech industry and backed by Microsoft, NZTech and the government is calling for tech companies to get involved.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware.