Network Accessible Storage (NAS) Landscape

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.