Global Personal Cloud Market is Estimated to Create a Valuation of Approximately USD 125.92 BN by 2023
Research Reports
Jan 06, 2021
The personal cloud market has been constant revenue growth, mainly due to the proliferation of smart and connected devices and the rising demand for cloud-based services. Besides, the market growth attributes to the increased need for additional storage in consumer electronic devices for disaster recovery planning. The emergence of industry-leading cloud capabilities positively impacts the growth of the market. Moreover, the rising demand for increased user experiences escalates market growth.
According to a leading research firm – Market Research Future (MRFR), the global personal cloud market is estimated to create a valuation of approximately USD 125.92 BN by 2023, growing at a massive CAGR of 44.3% throughout the anticipated period (2017 – 2023). The demand to eliminate the need for additional hardware storage on the devices and improved customer experiences boosts the size of the market.
Personal Cloud Market – Segmentation
The report is segmented into five dynamics;
By Cloud Type : Online Cloud, NAS Cloud, Server Cloud, and Home-Made Cloud.
By Revenue Type : Direct Revenue and Indirect Revenue.
By User Type : Individual, Small Business, Medium Business, and others.
By Hosting Type : Providers’ Hosting and Users’ Hosting.
By Regions : North America, Europe, APAC, and the Rest-of-the-World.
Personal Cloud Market – Regional Analysis
North America dominates the global personal cloud market. The largest market share attributes to the presence of several notable players and well-established technology development centers, allowing the early adoption of cloud technologies in the region. Besides, the proliferation of mobile phones and growth in cloud technologies drive market growth in the region.
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Moreover, substantial R&D investments by the majority of cloud computing organizations foster the growth of the regional market. Technological advances, along with the proliferation of the internet, tablets, and other smart connected devices, boost the regional market growth. The North American personal cloud market is projected to retain its dominance over the global market.
Europe stands second in the global personal cloud market. The market growth is driven by the well-established cloud infrastructure and major telecom companies in the region. Additionally, the increasing adoption of on-demand cloud services in Germany, the UK, France, and Italy supports regional market growth. The European personal cloud market is expected to show immense growth over the forecast period.
The Asia Pacific personal cloud market is emerging as a promising market in terms of size. Factors such as the presence of the majority of key mobile phone manufacturers in China and the rising numbers of mobile phone users in the region influence the personal cloud market share. Furthermore, government policies and regulations impact the adoption of digital services and cloud-based services in the region.
APAC countries, such as China, Japan, and India, offer substantial growth opportunities for the market players, demanding high internet connectivity speed. Moreover, the rising disposable income of demographics propels the market growth in the region. Besides, the rapid industrialization and growing numbers of businesses provide impetus to market growth.
Personal Cloud Market – Competitive Analysis
Highly competitive, the personal cloud market appears fragmented due to the presence of many well-established players. To gain a larger competitive share, innovation, mergers & acquisitions, and brand reinforcement remain key trends for these players. Key players emphasize innovations in products and new processes, which fuels the already intensified market competition. The personal cloud market demonstrates a high growth prospect, attracting several new entrants to the market.
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Major Players:
Players leading the personal cloud market include Microsoft Corporation (US), Apple Inc (US), Google LLC (US), Amazon Web Services Inc (US), Box Inc (US), Seagate Technology PLC (US), Egnyte (US), Dropbox Inc (US), Melco Holdings Inc (Japan), Western Digital, F-Secure Corporation (Finland), Funambol Inc (US), Synchronoss Technologies Inc (US), Mega Ltd (New Zealand), SpiderOak Inc (US), D-Link Corporation (Taiwan), Mozy Inc (US), ElephantDrive (US), Dell Technologies Inc (US), Just cloud.com (UK), and Sugarsync (US), among others.
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