Streamers come with many terabytes of memory down to no memory (usually with empty solid state storage slots). Most have USB ports to connect USB drives and they can access Network Accessible Storage though the network.
The high end audio industry is going through a major transition from owning physical media -> streaming personal files -> using streaming service. The final stage is mature. I have a very good analog system and Qobuz streaming service sounds better on high resolution albums of the same as Red Book CDs on the same resolution.
If you get your streaming up the an appropriate level you will have little use for your ripped files. I keep some on my streamer… just in case of a network outage… but only use one about once a year. This is common… once you achieve equal or better sound quality you abandon storage.
I would recommend getting the best streamer you can afford… Aurender… although there are a number of good brands. Aurender only makes streamers and their flagship is the standard for audio shows it sounds so good.My rule of thumb is that (your carefully chosen) components should all be roughly the same cost (TT, DAC, preamp, amp… etc.). For me, my streamer is about 20% more… well worth the premium… it is a source component, like a turntable. Start out with poor sound and amplification will not make it sound better.