Global Personal Cloud Market was valued at USD 54.78 billion in 2019, which is expected to reach 916.24 billion by 2027 at a CAGR 45.8%.
Personal cloud is the type of digital services and information which can be accessed from any location given the users to access data. A personal cloud service allows customers to edit, share, and synchronize the content. By using personal cloud service user can share data efficiently on various platforms. Capacity for larger storage, accessibility from several devices, and cheap cost are the features of personal cloud service.
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Increase awareness regarding personal cloud is expected to boost the global personal cloud market growth. Furthermore, proliferation of digital content is expected to fuel the market growth, over the forecast period. Moreover, rise in business tie-up activities with device manufacturers will enhance demand for personal cloud in the market, during this forecast period. Additionally, personal cloud provides data storage platform which enables customers to access, share, and synchronize data across devices and cloud. These services provides better storage, accessibility and sharing data with enhanced security features will have positive impact on market growth.
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However, data security and privacy concern is the major restraining factor which is expected to hamper the global personal cloud market growth. For instance, in 2018, according to Identity Theft Resource Centre hackers stole approximately 446 million consumer records.
Market Key Players
Global Personal Cloud Market is segmented into revenue type such as Direct, and Indirect, by hosting type such as Service Providers, and Consumers. Further, Global Personal Cloud Market is segmented into end user such as Individual, and Enterprises.
Also, Global Personal Cloud Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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