Quick Answer+
Quick Answer: The DS923+ ($550) and DS723+ ($450) share the same AMD Ryzen R1600 CPU, 10GbE upgrade option, and NVMe slots - the DS723+ is essentially a 2-bay DS923+. Choose DS923+ if you need 4+ bays now or want maximum expansion (up to 9 drives). Choose DS723+ if 2 bays are sufficient and you want the most powerful compact NAS with future expansion capability (up to 7 drives). The $100 difference buys you 2 more bays and greater expansion potential.
The Synology DS923+ and DS723+ are siblings - they share the same processor, memory architecture, and expansion capabilities. The key difference is bay count: 4 bays vs 2 bays. This comparison helps you decide whether the extra $100 for two additional bays is worth it for your use case.
Both models represent Synology's AMD Ryzen-powered Plus line, offering excellent performance for Docker, VMs, and 10GbE networking - but with different storage footprints.
Specifications Comparison
| Specification | DS923+ | DS723+ |
|---|---|---|
| Price | ~$550 | ~$450 |
| Drive Bays | 4 | 2 |
| CPU | AMD Ryzen R1600 (2-core, 2.6/3.1 GHz) | AMD Ryzen R1600 (2-core, 2.6/3.1 GHz) |
| RAM | 4GB DDR4 ECC (max 32GB) | 2GB DDR4 ECC (max 32GB) |
| M.2 NVMe Slots | 2 (cache or storage pool*) | 2 (cache only) |
| 1GbE Ports | 2 | 2 |
| 10GbE Option | ✅ E10G22-T1-Mini | ✅ E10G22-T1-Mini |
| PCIe Slot | PCIe 3.0 x2 | PCIe 3.0 x2 |
| USB Ports | 2× USB 3.2 | 1× USB 3.2 |
| Expansion | Up to 9 drives (1× DX517) | Up to 7 drives (1× DX517) |
| Max Raw Capacity | 72TB (4× 18TB) / 162TB expanded | 36TB (2× 18TB) / 126TB expanded |
| Max IP Cameras | 40 | 40 |
| Plex Transcoding | Limited (1-2 streams) | Limited (1-2 streams) |
| Hot Swappable | Yes | Yes |
| Warranty | 3 years | 3 years |
*DS923+ supports NVMe storage pools with Synology-branded SSDs; DS723+ is cache-only for M.2 slots.
What They Share: The AMD Ryzen Advantage
Both models feature identical core hardware:
AMD Ryzen R1600 Processor
- Dual-core with 4 threads
- 2.6 GHz base / 3.1 GHz burst
- Excellent multi-threaded performance
- Great for Docker containers and light VMs
- Limited Plex transcoding (no Intel Quick Sync)
ECC Memory Support
- Both support ECC DDR4 memory
- Expandable to 32GB
- Error-correcting for data integrity
- DS923+ ships with 4GB; DS723+ ships with 2GB
10GbE Upgrade Path
Both accept the E10G22-T1-Mini 10GbE module (~$110):
- 10GBASE-T copper connectivity
- Plugs into dedicated expansion slot
- Enables 500-1000+ MB/s transfers (with SSD cache)
NVMe M.2 Slots
Both have 2× M.2 2280 NVMe slots for SSD caching:
- Read cache: Single SSD
- Read-write cache: Two SSDs (RAID 1)
- Dramatically improves random I/O
Key difference: DS923+ can use M.2 slots for storage pools (Synology SSDs only), not just cache. DS723+ is cache-only.
Key Differences Explained
1. Bay Count & Base Capacity
| Configuration | DS923+ (4-bay) | DS723+ (2-bay) |
|---|---|---|
| 4× 8TB (SHR) | 24TB usable | N/A |
| 2× 8TB (SHR/RAID 1) | 8TB usable | 8TB usable |
| 4× 16TB (SHR) | 48TB usable | N/A |
| 2× 16TB (RAID 1) | 16TB usable | 16TB usable |
| Max raw (no expansion) | 72TB | 36TB |
With 4 bays, the DS923+ offers more RAID flexibility (RAID 5, RAID 6, RAID 10) and higher base capacity.
2. Expansion Capability
Both support the DX517 expansion unit (5 additional bays):
- DS923+: 4 + 5 = 9 drives maximum
- DS723+: 2 + 5 = 7 drives maximum
The DS723+ is unique - it's the only 2-bay NAS with expansion capability. No other 2-bay Synology (including DS224+) can add drives via expansion unit.
3. Stock RAM
- DS923+: Ships with 4GB DDR4 ECC
- DS723+: Ships with 2GB DDR4 ECC
Both are upgradeable to 32GB, but DS723+ users may want to upgrade RAM sooner for Docker/VM workloads.
4. USB Ports
- DS923+: 2× USB 3.2 Gen 1
- DS723+: 1× USB 3.2 Gen 1
Minor difference, but DS923+ offers more flexibility for USB backup drives or UPS connections.
5. NVMe Storage Pools
DS923+ only: Can create NVMe storage pools (not just cache) using Synology-branded SSDs. This allows all-flash storage for high-performance workloads.
DS723+: M.2 slots are cache-only - cannot be used as primary storage.
Performance Comparison
CPU Performance
Identical. Same AMD Ryzen R1600 processor means identical compute performance for:
- Docker containers
- Virtual machines
- File indexing
- Encryption
- Plex (limited transcoding on both)
Storage Performance
With more drives, DS923+ can achieve higher aggregate throughput in RAID configurations:
| Scenario | DS923+ (4 drives) | DS723+ (2 drives) |
|---|---|---|
| Sequential read (RAID 5) | ~500 MB/s | ~350 MB/s (RAID 1) |
| Sequential write (RAID 5) | ~400 MB/s | ~180 MB/s (RAID 1) |
| With 10GbE + NVMe cache | 1,000+ MB/s | 800+ MB/s |
Note: 1GbE network limits both to ~115 MB/s regardless of drive configuration.
Plex Performance
Both have limited Plex transcoding due to AMD CPU without dedicated hardware encoder:
- Direct play: Unlimited (both)
- Transcoding: 1-2 simultaneous 1080p streams (both)
- 4K transcoding: Not recommended (both)
If Plex transcoding is important, consider Intel-based models like DS423+ or DS224+ instead.
Pricing Analysis
Cost Per Bay
- DS923+: $550 ÷ 4 bays = $137.50/bay
- DS723+: $450 ÷ 2 bays = $225/bay
The DS923+ offers significantly better value per bay. The $100 premium buys you 2 additional bays - essentially $50 per extra bay.
Total System Cost (Example: 16TB Usable)
| Component | DS923+ Route | DS723+ Route |
|---|---|---|
| NAS Unit | $550 | $450 |
| Drives (SHR) | 4× 8TB = $600 | 2× 16TB = $580 |
| Usable Capacity | 24TB | 16TB |
| Total | $1,150 | $1,030 |
DS723+ is cheaper upfront but provides less capacity. DS923+ costs $120 more but delivers 50% more usable storage.
Use Case Recommendations
Choose DS923+ If:
- You need 4+ bays now - More flexible RAID options
- Maximum expansion is important - Up to 9 drives total
- You want NVMe storage pools - All-flash option available
- Better value per bay - $137.50 vs $225 per bay
- Running heavy Docker/VMs - Ships with more RAM (4GB vs 2GB)
- Small business file server - More capacity headroom
Choose DS723+ If:
- 2 bays are sufficient - Simpler, more compact
- Space is limited - Smaller footprint
- Budget is tight - $100 savings upfront
- You want expansion option - Only 2-bay with DX517 support
- Power user features in compact form - 10GbE, ECC, NVMe cache
- Starting small, growing later - Add DX517 when needed
The Unique DS723+ Proposition
The DS723+ occupies a unique position in Synology's lineup:
- Only 2-bay with AMD Ryzen - Most powerful 2-bay NAS
- Only 2-bay with expansion - Can grow to 7 drives
- Only 2-bay with 10GbE option - DS224+ doesn't support it
- Only 2-bay with ECC memory - Data integrity protection
If you want a compact NAS but refuse to compromise on features, the DS723+ is your only option.
Upgrade Paths Compared
DS923+ Growth Path
- Start with 2-4 drives in main unit
- Add RAM (up to 32GB) for Docker/VMs
- Add NVMe cache for performance
- Add E10G22-T1-Mini for 10GbE
- Add DX517 expansion (5 more bays → 9 total)
- Maximum: 9 drives + NVMe cache + 10GbE + 32GB RAM
DS723+ Growth Path
- Start with 2 drives in main unit
- Add RAM (up to 32GB) for Docker/VMs
- Add NVMe cache for performance
- Add E10G22-T1-Mini for 10GbE
- Add DX517 expansion (5 more bays → 7 total)
- Maximum: 7 drives + NVMe cache + 10GbE + 32GB RAM
Frequently Asked Questions
Is the DS723+ just a smaller DS923+?
Essentially yes. Both share the same AMD Ryzen R1600 CPU, ECC memory support (up to 32GB), 10GbE upgrade option, NVMe slots, and PCIe expansion. The DS923+ has 4 bays vs 2, more stock RAM (4GB vs 2GB), an extra USB port, and can use NVMe for storage pools (not just cache).
Can both DS923+ and DS723+ use 10GbE?
Yes. Both support the E10G22-T1-Mini 10GbE upgrade module (~$110). This plugs into the dedicated expansion slot and provides 10GBASE-T copper connectivity. Combined with NVMe caching, both can achieve 1,000+ MB/s network transfers.
Which is better for Plex?
Neither is ideal for Plex transcoding - both use AMD CPUs without Intel Quick Sync. For transcoding, consider Intel-based models (DS423+, DS224+). For direct play only (no transcoding), both work excellently. The DS923+ offers more storage capacity for larger media libraries.
Can the DS723+ expand to more drives?
Yes - the DS723+ supports the DX517 expansion unit, adding 5 bays for 7 total drives. This is unique among 2-bay NAS models. The DS224+, for comparison, cannot expand at all. The DS923+ can also use DX517 for up to 9 total drives.
DS723+ vs DS224+: Which 2-bay should I buy?
DS723+ for power users: AMD Ryzen, 10GbE option, ECC RAM (32GB max), expansion capability, NVMe cache. DS224+ for Plex users: Intel Quick Sync transcoding, simpler setup, lower price (~$300). Choose DS723+ for Docker/VMs/10GbE; choose DS224+ for Plex transcoding.
Is the $100 difference worth it for DS923+?
Usually yes. The $100 buys you 2 additional bays (effectively $50/bay), more stock RAM (4GB vs 2GB), an extra USB port, NVMe storage pool capability, and greater expansion potential (9 vs 7 drives). Unless space or budget is extremely tight, DS923+ offers better value.
Verdict: Which Should You Buy?
| Choose DS923+ (~$550) | Choose DS723+ (~$450) |
|---|---|
| Need 4+ bays now | 2 bays are sufficient |
| Want maximum expansion (9 drives) | Want compact form factor |
| Better value per bay | Tighter budget |
| NVMe storage pools desired | Unique expandable 2-bay |
| Small business use | Power user home NAS |
Our recommendation: For most users, the DS923+ offers better value - the extra $100 for 2 additional bays is money well spent. However, the DS723+ is the only choice if you specifically need a compact 2-bay NAS with power-user features (10GbE, ECC, expansion capability). Both are excellent NAS units sharing the same powerful foundation.
Related Resources
- Synology DS923+ Review - Full 4-bay review
- Synology DS723+ Review - Full 2-bay review
- DS1522+ vs DS923+ - 5-bay vs 4-bay comparison
- Best Synology NAS 2026 - Complete buying guide
- Synology Drive Compatibility Checker
- RAID Calculator - Plan your storage
Last Updated: February 2026 | Prices and specifications verified