Market Highlights
An electronic device provides limited storage space, and personal data produced by its user is of substantial volume. Personal cloud allows the storage of such data, eliminating storage space limitation. Market Research Future (MRFR) identified this as a major driver for the global personal cloud market. MRFR reveals that between 2018 and 2023, the global personal cloud market is anticipated to strike a CAGR of 44.3% and scale up to a valuation of USD 125.92 billion by end of the forecast period (2018-2023).
Industry News
August 2019
Apple’s work with Siri could now focus on deploying personal cloud to score high on privacy parameter.
Market Insights
The easy accessibility of personal data using the internet is likely to boost the growth of the global personal cloud market. As the adoption of cloud computing increases, personal cloud due to its ability to store, share, and transfer personal data, within an individual’s cloud network, across any location, is expected to gain traction for the market. In addition, it is also observed that large enterprise and SMEs are deploying personal cloud for effective tracking and recording of clustered data generated by them. Personal cloud assisting in developing a self-hosted cloud service is likely to benefit the market. Personal cloud is also proving its efficacy in disaster recovery planning and digital contingency, which, in turn, is likely to gain momentum for its market in the coming years.
Other factors such as rise in cognizance regarding personal cloud, cost-effectiveness, robust network connectivity, and major contributions by trending technologies such as IoT, AI, and big data analytics are expected to promote the market growth over the assessment period.
However, people ignorant of network connectivity and high risk of cyber threats are factors that can limit the growth of the global personal cloud market.
Segmentation:
The global personal cloud market share has been segmented on the basis of cloud type, user type, revenue type, and hosting type.
Based on the cloud type, the market has been segmented into NAS cloud, online cloud, server cloud, and home-made cloud.
Based on the revenue type, the personal cloud has been segmented into direct revenue and indirect revenue.
Based on the user type, the personal cloud market has been segmented into individual, small business, medium business.
Based on the hosting type, the personal cloud market has been segmented into providers’ hosting, users’ hosting.
Regional Outlook
The personal cloud market study covers North America, Asia-Pacific, Europe, and the Rest of the World (RoW) that includes the Middle East and Africa, and Latin America.
MRFR states that over the review period, North America is anticipated to lead in the global market of personal cloud. Limited space for storage in consumer electronic gadgets is encouraging people to adopt personal cloud, which is expected to gain momentum for the regional market. In Europe, due to presence of reliable networking infrastructure, residence of tech-giants, high flow of capital for research and developmental undertakings are factors that are expected to prove advantageous for the personal cloud market. The deep penetration of cloud computing across different industry verticals in the Asia Pacific region is expected to leave a strong influence on the APAC personal cloud market. High network connectivity and the presence of numerous internet providers are other factors that are anticipated to drive the regional market.
Key Players
Just cloud.com (UK), Apple Inc (US), Microsoft Corporation (US), Google LLC (US), Synchronoss Technologies Inc (US), Box Inc (US), Amazon Web Services Inc (US), Seagate Technology PLC (US), F-Secure Corporation (Finland), Dropbox Inc (US), Egnyte (US), Melco Holdings Inc (Japan), Sugarsync (US), and Western Digital, Funambol Inc (US), SpiderOak Inc (US), Mega Ltd (New Zealand), D-Link Corporation (Taiwan), ElephantDrive (US), Mozy Inc (US), and Dell Technologies Inc (US).
