Global Information Inc. presents a new market research report, "Consumer Storage Opportunities" by Parks Associates.
As consumers accumulate digital books, movies, photos, and music, the need for storage and back-up devices will grow dramatically. According to the report, "Parks Associates forecasts revenues from network-attached storage to exceed $4.4 billion in 2014." Findings from the study indicate nearly 50% of households are performing backups (i.e. external storage, online backup, flash drives) on a continuous basis. The percentage of households performing backups only totaled 35% back in 2006. Pietro Macchiarella, research analyst for Parks Associates, observes "This is a classic example where growth in one area is spurring another industry... As people accumulate more digital content, the prospect of losing that data becomes more ominous. Companies marketing network-attached storage (NAS) and home server devices should target high-use consumers such as videophiles and music enthusiasts and demonstrate the ease with which these products protect against loss of critical data." The report expects backup methods utilized by consumers to become more sophisticated as files get larger and as individuals invest more money and time into their digital media collections. "The majority of consumers still use less-reliable media such as CDs, DVDs, and flash drives, but in the past four years, portable hard drives and direct- and networked-attached storage have become more popular," says Macchiarella. "This trend will accelerate, fueled by growth in digital media and dropping storage costs. In particular, product revenues from NAS devices will nearly quadruple between 2010 and 2014."
Parks Associates thoroughly examines the consumer electronic ecosystem for data and media backup, storage, sharing, and safekeeping in this study. The report analyzes key trends in hardware and software development and includes industry forecasts for network-attached storage products.