DUBLIN--(BUSINESS WIRE)--The "Personal Cloud Market by Revenue Type, Hosting Type, and End user: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the personal cloud market size was valued at $26.80 billion in 2019, and is projected to reach $161.39 billion by 2027, growing at a CAGR of 24.6% from 2020 to 2027.
Personal cloud is a cloud storage platform that enables the customers to access, synchronize and share stored data across various mobile devices such as smartphones and tablets. In this era of digitalization, there is an increase in need of storing and sharing personal or professional data. Rapid rise in the tech-savvy population has considerably increased the demand for cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphones and tablets, has created a huge demand for a secure platform to store digital content. Faster and convenient access to stored data and sharing of information are expected to define new standards for the personal cloud industry to create lucrative opportunities for the market players.
Bring-Your-Own-Device (BYOD) is gaining increasing acceptance, particularly among small and medium enterprises due to benefits of improved productivity, work flexibility, and reduced infrastructure costs. Personal cloud services is expected to facilitate file storage and sharing among the employees and enterprises who have adopted the BYOD trend. However, the issues of privacy and security of stored data are anticipated to considerably hinder the market growth.
Cost-effectiveness and easy availability of cloud solutions from service providers has increased their demand over user-hosted cloud storage devices. Numerous players are offering personal cloud solutions in various packages with attractive price limits. Direct revenue collected through monthly and annual charges is expected to be the leading revenue collection mode due to which the market is expected to grow at a significant rate. However, the revenue generation through indirect modes such as advertisement and lead generation is expected to surpass the revenue generated through the direct modes by 2025.
The personal cloud market is segmented on the basis of revenue type, hosting type, end user, and region. By revenue type, it is categorized direct and indirect. By hosting type, it is bifurcated into service providers and consumers. Depending on end user, it is categorized into individuals and enterprises. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- The study provides an in-depth analysis of the current & future trends of the market to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global personal cloud market size is provided.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the global personal cloud industry.
- The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
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The quantitative analysis of the market from 2019 to 2027 is provided to determine the global personal cloud market potential.
Key Findings
- By revenue type, the direct segment dominated the personal cloud market forecast. However, the indirect segment is expected to exhibit significant growth during the forecast period in the personal cloud industry.
- Depending on hosting type, the service providers industry generated the highest revenue and dominated the personal cloud market share in 2019. However, the consumers sector is expected to witness a considerable growth in the near future.
- Depending on end user, the enterprises industry generated the highest revenue in 2019. However, the individuals sectors expected to witness a considerable growth in the near future.
- Region wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years. Moreover, North America dominated the personal cloud market in 2019 in terms of revenue.
Market Dynamics
Drivers
- Rise in demand for fast, and real time access to diversified data
- Rise in need for disaster recovery
- Growing BYOD and mobile workforce trends
Restraints
- Data security and privacy issues
Opportunities
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Bridging the connectivity and accessibility gap in developing economies
Companies Mentioned
- Apple Inc.
- Google Inc.
- Microsoft Corporation.
- Amazon Web Services Inc.
- Dropbox Inc
- Egnyte Inc.
- Copy (Barracuda Networks Inc.)
- SpiderOak
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Box Inc., Buffalo Inc
For more information about this report visit https://www.researchandmarkets.com/r/2xuamr
