Market Highlights —
Hard drive storage spaces are being progressively replaced with cloud storage solution such as Dropbox. Personal cloud storage lets users sync their devices, share files, and access content from their smart devices and is a simple way to store files elsewhere. Market Research Future (MRFR) has released a report on the global personal cloud market with key market insights and forecasts for the period of 2018-2023. The personal cloud market stood at USD 14.51 Bn in 2017 and is likely to reach USD 125.92 Bn at a CAGR of 44.3% by the end of 2023.
The personal cloud lets user develop their own self-hosted personal cloud and is way cheaper than enterprise-level private and public cloud. They are extensively being used for file storage as they can be easily accessed from the internet without any hassles. Other advantages associated with personal cloud are faster media streaming and better privacy assurance. Moreover, investment in personal cloud eliminates the need to make an upfront investment in hardware or software. Personal cloud storage market players have introduced various affordable monthly as well as yearly plans, which has encouraged consumers to adopt personal cloud. Towering demand for personal storage, growing penetration of consumer electronic devices, and the need for disaster recovery planning are factors fostering the growth of the personal cloud market. Hard drive manufacturers are rolling out personal cloud subscription services, which are further assisting the growth of the market. However, lack of awareness might restrain the growth of the personal cloud market.
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The global personal cloud market is segmented into cloud type, revenue type, user type, and hosting type.
By cloud type, the personal cloud market has been segmented into online cloud, NAS cloud, server cloud, home-made cloud.
By revenue type, the personal cloud market has been segmented into direct revenue and indirect revenue.
By user type, the personal cloud market has been segmented into individual, small business, medium business.
By hosting type, the personal cloud market has been segmented into providers’ hosting, users’ hosting.
Region-wise, the personal cloud market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is likely to account for the largest share of the global market. Amplified demand for on-the-go storage combined with technological capabilities has favored the growth of the market. Growing possession of electronic gadgets such as smartphones, tablets, and others have led to huge storage demand. Consequently, the personal cloud market is booming in the region. Additionally, the presence of various leading players in the region has supported the growth of the market. Moreover, high purchasing power is favoring market growth.
The APAC personal cloud market is likely to exhibit remarkable growth over the forecast period. Growing penetration of various electronic gadgets in the region has induced demand for personal cloud storage. Consolidation of data centers and cloud servers in the region has increased the availability of personal cloud options, which triggers the growth of the market.
Sugarsync (US), Western Digital, Microsoft Corporation (US), Egnyte (US), Melco Holdings Inc (Japan), Seagate Technology PLC (US), Dropbox Inc (US), Amazon Web Services Inc (US), Apple Inc (US), Box Inc (US), and Google LLC (US) are the key players in the personal cloud market.
SpiderOak Inc (US), Dell Technologies Inc (US), Funambol Inc (US), Mega Ltd (New Zealand), F-Secure Corporation (Finland), Just cloud.com (UK), Synchronoss Technologies Inc (US), Mozy Inc (US), D-Link Corporation (Taiwan), and ElephantDrive (US) are other notable players in the personal cloud market.
June 2019 - Microsoft, a leading technology company, added a new feature to its OneDrive cloud storage service called Personal Vault. Personal Vault is a partitioned sector of OneDrive account that would provide a secure solution for sensitive data by means of a strong password or two-factor authentication for entry contrary to the basic OneDrive account which needs a single password to log in.
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List of Figures
FIGURE 1 Global Personal Cloud Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Personal Cloud Market
FIGURE 4 Value Chain Of Global Personal Cloud Market
FIGURE 5 Share Of Global Personal Cloud Market In 2017, By Country (In %)
FIGURE 6 Global Personal Cloud Market, 2018–2023
FIGURE 7 Sub-Segments Of Cloud Type
FIGURE 8 Global Personal Cloud Market Size, By Cloud Type, 2017
FIGURE 9 Share Of Global Personal Cloud Market, By Cloud Type, 2018 To 2023
FIGURE 10 Global Personal Cloud Market Size, By Revenue Type, 2017
Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 88911453