GMI Research enhances the client’s overall performance and efficiency by analyzing and offering a research report on the global personal cloud market. The high internet penetration and the high demand for the cost-effective platform that helps share data fuel the global personal cloud market size. In 2020, the global personal cloud market was valued at USD 28,914 Million and is expected to grow at a healthy CAGR of over 24.3% during the forecast period.
Introduction of the Personal Cloud Market
The personal cloud is a type of cloud storage that allows individuals to store data in the cloud and access data from any remote place. It is a platform that enables end-users to access, coordinate, and distribute the stored data across the services and cloud. Personal cloud storage is also known as mobile cloud storage or pocket cloud storage and is developed on associated applications and services.
Key Players of the Market
Personal Cloud Market Dynamics
The crucial factors responsible for bolstering the global personal cloud growth are; increasing penetration of the internet and the high demand for a platform, beneficial for sharing data, and cost-efficient. In addition, cloud computing technologies are in demand among customers, rising use of broadband connections, smartphones, and the constant technological development in the personal cloud is leading to fuel the personal cloud market size. Additionally, the radical growth in the R&D activities for the evolution of cloud computing solutions as per the personal cloud market research report will surge numerous growth opportunities in the market.
The personal cloud solution has various benefits, such as it improves overall productiveness, being very convenient, bring faster data access. Moreover, strategic association and alliance between the global giants and the megatrend of enforcing BYOD policy will further adjust the personal cloud market statistics. On the other hand, the growing concern regarding data privacy and security, end of the spectrum will negatively impact the market’s growing demand in the upcoming years.
Personal Cloud Market Segmentation
Type Segmentation Market Drivers
The Online Cloud segment anticipates growing at a higher CAGR during the forecast period. It is because of the accelerating acceptance of online cloud among individuals globally. In addition, the online cloud provides exceptional advantages such as recovery options with easy sharing, usability, cost-effectiveness, convenience, and easy accessibility; these features further bring a broad customer base to the market, thereby propelling the growth of this segment.
User Type Segmentation Market Drivers
The Enterprises segment witnesses to rise at a higher CAGR over the forecast period because; various organizations and businesses adopt the personal cloud to improve overall productivity and deploy cloud infrastructure. Furthermore, mobile devices merge with the cloud, and the BYOD trend is increasing in multinational companies for augmenting flexibility, cost-saving, and convenience. These are some other aspects steering the market growth of this segment.
North America is projected to grow at a faster compound annual growth rate over the forecast period due to the essential personal cloud suppliers and the high adoption of personal cloud services. Finally, the growing adoption of cloud services across various verticals and technological developments in the personal cloud is again stimulating market growth.
Global Personal Cloud Market Segmentation
Segmentation by Type
Segmentation by User Type
Segmentation by Revenue Type
Segmentation by Region
Introduction of GMI Research
GMI Research is a marketing intelligence and consulting organization that provides business research-related solutions to clients, allowing them to make constructive investment decisions and stimulate revenue. We offer exclusive reports and consulting services based on insight facts that encourage our clients to achieve success by beating the competition.