Personal Cloud Market Forecasts to 2028 – Global Analysis By User Type (Consumers, Enterprises), Revenue Type (Direct Revenue, Indirect Revenue), Hosting Type, (Provider Hosting, User Hosting) and By Geography

Personal Cloud Market Forecasts to 2028 – Global Analysis By User Type (Consumers, Enterprises), Revenue Type (Direct Revenue, Indirect Revenue), Hosting Type, (Provider Hosting, User Hosting) and By Geography

According to Stratistics MRC, the Global Personal Cloud Market is accounted for $17.68 billion in 2021 and is expected to reach $69.51 billion by 2028 growing at a CAGR of 21.6% during the forecast period. The personal cloud is well-defined as a kind of cloud storage that allows to store individual’s data in the cloud and offers access to data from any place. It is a type of cloud storage platform that allows the customers to access, synchronize, and share the stored data across the cloud and devices. Personal cloud storage is also referred to as pocket cloud storage or mobile cloud storage and is developed on connected services and applications.

Market Dynamics:

Driver:

Upsurge Demand for Data Storage

The demand for saving photos, documents, folders, files, and sharing those files is increasing, which is increasing the demand for data storage. Cloud makes flexible and affordable software, platforms, infrastructure, and storage available to businesses of all sizes. It offers organizations the opportunity to reduce costs, increase flexibility, and improve IT capability. Data can be used for personal and professional purposes, as well. So, keeping the data safely is very much important, and through this, the demand for storing data in the cloud has increased. Due to this reason, many cloud storage providers offer unlimited data storage. Real-time access, data backup, and additional storage in consumer mobile or laptops are propelling the demand for personal cloud. Rising demand for real-time data access and data sharing, cost-effective and efficient storage, data loss protection, rising data generation activities, and digital contingency and disaster recovery planning are the primary drivers of this growth.

Restraint:

Data Security and Privacy

Data security and privacy on the cloud is one of the major restraints hindering market growth. The growing number of cyber-attacks in the past couple of years targeting small and medium businesses is also one of the major factors impeding the adoption. As per the Identity Theft Resource Center, hackers stole around million consumer records.

Opportunity:

Growing Acceptance Of Bring Your Own Devices

Implementation of bringing your device is predictable to boost demand for it. In the IT sector, BYOD is progressively being accepted in the workplace to access secure data. Individuals use cloud services such as iCloud and Google Drive, which are widely used for controlling data risk. Several personal cloud services are increasingly offering accessibility, enhanced storage, and access to share data with security features. According to Insight Enterprises, 59% of organizations allow their employees to use their own devices at the workplace. Some organization offers their cloud solutions to several organizations in various industry sectors. For instance, Amazon Web Services provide cloud services to IT sectors.

Threat:

Concerns with Geographical Data Storage

As cloud infrastructure is circulated across different geographical locations around the world, it is often possible that the user's data is stored in a location that is outside of the legal jurisdiction, raising concerns about the legal accessibility of local law enforcement and regulations on data stored outside of their region. Moreover, the user is concerned that local laws will be violated because the cloud's dynamic nature makes it difficult to delegate a specific server that will be used for trans-border data transmission. This is a threatening factor for the growth of the market.

Online Cloud segment is expected to be the largest during the forecast period

The Online Cloud segment is predictable to grow, due to the accelerating acceptance of online cloud among individuals at the global level. Additionally to this, the remarkable benefits offered by the online cloud, including easy accessibility, usability, recovery option along with easy sharing, cost-saving, and convenience features is further attracting a large customer base to the market, thereby fuelling the growth of this segment.

The Enterprises segment is expected to have the highest CAGR during the forecast period

The Enterprises segment is anticipated to increase at a higher CAGR during the forecast period, owing to the growing implementation of personal cloud to boost the overall productivity and rising demand for the cloud infrastructure across numerous organizations and businesses. Furthermore, the merging of mobile devices with cloud and increasing acceptance of the bring-your-own-device BYOD trend in the multinational giants for enhancing the flexibility, convenience and saving money are some other factors driving the market growth of this segment.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, due to the growing tech-savvy customer base in this province. Adoption of 5G in this province is set to open up new opportunities for the market as high-speed data transmission and on-the-go data access are set to lower the data loading time thereby attracting more customer attention. China is expected to account for a market of roughly Billions, owing to the increasing acceptance of cloud services in numerous organizations and the increasing demand for file storage and sharing on servers. Due to the increasing need for advanced intelligent solutions and the availability of fast broadband networks with enhanced multimedia devices, demand for the personal cloud in China is growing rapidly.

Region with highest CAGR:

North America is projected to have the highest CAGR, due to the large presence of key personal cloud suppliers and the high adoption of services of personal cloud in this province. Moreover, the growing implementation of cloud services across several verticals and technological advancements in the personal cloud is further leading to a growth in the market in this province. The personal cloud can take on different meanings depending on how it is implemented, such as when it acts as a storage appliance that can be retrieved wirelessly or via the internet. Because of the growth in multi-cultural organizations that are required to work over similar platforms without compromising on the quality of work across different geographical locations, the US market accounted for the largest share of the North American Personal Cloud Market.

Key players in the market:

Some of the key players profiled in the Personal Cloud Market include Amazon Web Services Inc., Apple Inc, Box Inc., Microsoft Corporation, Dropbox Inc., Google, Mozy Inc., SpiderOak, Seagate, Egnyte Inc., Sugarsync, ElephantDrive, Western Digital, D-Link Corporation, Buffalo Technology, ASUS Cloud, Ubuntu One.

Key developments:

In January 2019: Western Digital Corporation launched various personal storage solutions that enable the consumers to organize, capture, and share their digital content and also offers speed, reliability, ruggedness, and ease of use features.

In November 2021: Microsoft and BIAL (Bangalore International Airport Limited) have collaborated and launched BIAL Genie Hackathon to develop an app using MS Azure.

In June 2021: Google Workspace and adobe joined in a partnership to help users search creative cloud assets and attach public links to synced files, libraries, and mobile device creations without leaving Gmail.

User Types Covered:
• Consumers
• Enterprises

Revenue Types Covered:
• Direct Revenue
• Indirect Revenue

Hosting Types Covered:
• Provider Hosting
• User Hosting

Cloud Types Covered:
• Online Cloud
• NAS Cloud
• Server Cloud
• Home-Made Cloud
• On-Premise Cloud

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances