BANGALORE, India | 7th November 2020: A new Personal Cloud Market Research Report published on Valuates Reports in Web Services Category. The report contains segmentation by Revenue Type ( Direct and Indirect), Hosting Type (Service Providers and Consumers), and End users (Individuals and Enterprises). It also covers Global Opportunity Analysis and Industry Forecast to 2027.
The personal cloud market size was valued at USD 26.80 Billion in 2019 and is projected to reach USD 161.39 Billion by 2027, growing at a CAGR of 24.6% from 2020 to 2027 during the forecast period.
A personal cloud is a cloud storage network that allows cloud and system users to view, synchronize, and share stored data. Personal cloud services, along with improved security features, provide better consumer data storage, usability and sharing.
North America is expected to hold the largest personal cloud market share during the forecast period. In the US and Canada, there is a high emphasis on research and development ( R&D). Also, major private cloud providers in the area are expected to increase the growth of the personal cloud market size.
Major factors driving the growth of personal cloud market size are, increase in the number of social media sites, an upsurge in broadband connections, rapidly increasing tech-savvy population, and increasing use of camera-equipped devices, such as smartphones and tablets.
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TRENDS INFLUENCING THE PERSONAL CLOUD MARKET SIZE
The increasing trend of bringing your own device is expected to fuel the personal cloud market size growth. Due to the benefits of increased efficiency, work flexibility and reduced infrastructure costs, Bring-Your-Own-Device (BYOD) are gaining increasing adoption, especially among small and medium enterprises. It is anticipated that personal cloud services will promote file storage and sharing among employees and businesses that have embraced the BYOD trend.
It is expected that, due to the increase in the usage of hybrid cloud in large organizations, the adoption of personal cloud services would experience positive growth.
The cost-effectiveness and easy usability of cloud solutions from service providers are driving the growth of the personal cloud market size. In different bundles with competitive price caps, numerous players offer personal cloud solutions. The leading mode of revenue collection is expected to be direct revenue collected through monthly and annual charges, which is why the market is expected to expand at a significant pace.
Due to the COVID-19 outbreaks, the organization is drastically changing its working structure to ensure employees’ safety and convenience. The convergence of cloud with mobile devices has altered the working atmosphere and has allowed companies to use the private cloud extensively to improve their overall efficiency. The authorization to use one’s own mobile device to access work content from anywhere and at any time has further driven the growth of the personal cloud market size.
Other key factors that propel the growth of personal cloud market size are, increasing awareness about personal clouds, fast and real-time access to data, and disaster recovery features.
PERSONAL CLOUD MARKET SHARE ANALYSIS
Due to the increasing need for advanced intelligent solutions and the availability of fast broadband networks with enhanced multimedia devices, the APAC region is expected to be the fastest-growing region in the personal cloud market.
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KEY BENEFITS FOR STAKEHOLDERS:
- This study includes the personal cloud market trends, opportunity, analysis, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the personal cloud industry.
- The personal cloud market share is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.
PERSONAL CLOUD MARKET SEGMENTS
By Revenue Type
By Hosting Type
- Service Providers
By End user
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Amazon Web Services Inc.
- Apple Inc.
- Box Inc.
- Buffalo Inc.
- Copy (Barracuda Networks Inc.)
- Dropbox Inc.
- Egnyte Inc.
- Google Inc.
- Microsoft Corporation
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