Global Personal Cloud Market Overview
The key drivers impacting the personal cloud market are the abundance of digital content and the rise in internet usage. For instance, As per IEA, the requirement for digital services and data is expected to continue its exponential rise in the future. Global internet traffic is anticipated to double by the end of 2022 and reach 4.2 zettabytes per year (4.2 trillion gigabytes). Globally, internet users number increased from 413 MN in 2000 to 3.4 BN in 2016. Recent years have noticed a massive demand for high-frequency data sharing, data access, cost-effective & efficient storage, and safety against risk of data loss, which is leading to the surge of personal cloud. Moreover, the growing trend of BYOD and mobile workforce contribute to personal cloud market demand in the later years.
According to Value Market Research, the global personal cloud market size was valued at about USD 30.24 billion in 2020 and is estimated to grow at a CAGR of around 26% during the forecast period 2021 to 2027.
The increasing number of social media sites and increased broadband connections, and smartphones will likely augment the need for personal clouds in the forecast period. Also, the rapidly increasing tech-savvy population is positively impacting the market growth as it has considerably led to the rising demand for cloud computing services. However, the data security and privacy issues hamper the market in the long run. In addition, lack of interoperability due to vendor lock-in impedes market growth. Nevertheless, the market trends, such as might provide considerable opportunities to the market's leading players.
The personal cloud market is widespread, with many local and international players. The market leaders follow numerous strategies such as extending product portfolio, amalgamation, contracts, acquisitions, product upgrades to mount their market share globally. The key players in the report are Amazon, Apple Inc., Google, Microsoft Corp., Just cloud.com, Dropbox Inc., Egnyte, Seagate, Buffalo Technology, MEGA Ltd., SpiderOak, D-Link Corporation, Mozy Inc., ElephantDrive, POLKAST LLC, Dell, and Sugarsync.
In this research report, the personal cloud market is segmented by host type, user type and region.
Analysis by Host Type:
By host type, the report is divided into user host and provider host. The user-hosted segment dominates the type segment with the highest market share of 38% in 2020. It is due to the growing demand for user-hosted cloud storage. Moreover, the easy availability and cost-effectiveness of cloud solutions from service providers contribute to the growth of the user-hosted cloud storage segment in the forecast period.
Analysis by User Type:
By user type, the report is segmented into enterprises and individuals. The enterprise segment dominates the user type segment with the highest share in 2020. The growing convergence of the cloud with mobile devices has changed the work culture within organizations. This has majorly driven enterprises to majorly adopt the personal cloud to raise their overall productivity, contributing to the growth of the enterprise's segment.
Analysis by Region:
In the regional outlook of the global personal cloud market, the North America region dominates with the largest market share of 43% in 2020. It is due to the growth of technology companies in the U.S. and Canada, along with the mounting cloud services adoption in various business verticals. Moreover, the technical advancement and massive utilization of mobiles and tablets in the region contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Host Type:
By User Type:
- Direct Revenue
- Indirect Revenue
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.