The Global Personal Cloud Market is estimated to grow at a significant CAGR during the forecast period. A personal cloud is a smaller version of public and private cloud storage. Personal cloud is simple to set up and significantly less expensive than the public and private cloud for companies. The main feature of a personal cloud is that it is used for storing personal documents and files. These files can be accessed from anywhere on the internet. The rising demand for greater storage in consumer electronic devices, as well as the requirement for disaster recovery planning, is driving the global personal cloud market. Online cloud, network-connected storage cloud, and server device cloud are three types of personal cloud. One of the most popular personal cloud services is Google Drive. Its services are free for a specific amount of storage, after which it charges to use the storage.
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The cloud is a network of connected servers that allows users to transport data, securely store data, and update data online and save it to the cloud. Personal cloud storage eliminates the need for additional device storage. Various device makers are partnering with cloud vendors to provide users with pre-installed storage services, and they see this as major revenue potential. However, market growth is being stifled by a lack of awareness regarding network connectivity and the prominence of data security apps.
The rise in the number of social networking sites, as well as the increased use of smartphones and broadband connections, has boosted the expansion of personal cloud services, which is driving the global personal cloud market. When compared to other applications, the most popular usage of these services is for keeping images, movies, contacts, and other critical files among individuals. Individuals’ quick adoption of personal cloud solutions is expected to be fueled by their use of multiple devices.
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Market Coverage
- Segment Covered-
o By End-User
o By Revenue type
o By Hosting Type
- Competitive Landscape: Amazon Web Services, Inc., Apple Inc., Box, Inc., Buffalo Inc., Barracuda Networks, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Personal Cloud Market by Segments,
By End-User
- Individuals
- Enterprises
By Revenue Type
- Direct
- Indirect
By Hosting Type
- Service Providers
- Consumer
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