It has been found that the personal cloud market was estimated to occupy a market value of about USD 14.51 billion during the forecast period. Moreover, the market is expected to extend a value of about USD 125.92 billion during the forecast period till 2017 with a CAGR of about 44.3%. it has been denoted that the personal cloud is a. Small cloud storage of both public and private cloud. The personal cloud is very much well accessible and is used for storing and is cheap as compared to the public cloud. The importance of the personal cloud is that it is used for storing information and file and is used as personal documents. In this, the files can be well accessible from the interconnection to wherever the place is present. The cloud is generally a network of services used for transferring data and safely storing the data. Here editing can be done online mode and the information can be stored on the cloud. Here the personal cloud minimizes the need for any hardware store on the cloud devices. The majority of cloud storage manufacturers have made collaborated with other key players for producing already installed cloud services to the users where it provides a good opportunity for carrying out business. These devices store information in a better way improving accessibility along with sharing the user data with improved security features.
The outburst of COVID led to the hampering of the environment. Moreover, it was found that the economic condition of the market faced difficulty in growth and expansion of personal cloud market size. It was marked that during this period the value chain analysis of the market showed certain prohibitions. The customer behavior was changed. The developmental growth of the market was hampered. the government took certain safeguarding steps for the safety of the nation.
drivers- the other driving force of the personal cloud market growth is the rise in the need for additional storing up of consumer electronic devices and the enhanced improvement for the need of disaster recovery planning.
Opportunities- the upsurge of digital content along with a proliferation of usage of the internet and the need for some of the disaster recovery plans are some of the opportunities towards personal cloud market size. The complete sake of indirect revenue is high in the region of North America where the sake of electronic devices pushes up the opportunity for business expansion. The merging up of the cloud with mobile applications has helped in the transformation of the mobile network applications. It has helped in the expansion of the productivity of the business. Focussing highly on the innovation of certain systems has steered up the market size. The growth of tech-savvy has helped in improving the usage of computing services in the whole of the market.
Challenges- the adoption of new aforementioned personal cloud market trend has encouraged the market for manufacturing new systems and devices is a challenging factor.
Restraints- being less aware of the internet connectivity and being less prevalent about data security applications are hampering up the personal cloud market growth. Lack of certain benefits towards the welfare of the market and improper security concerns for the market restrains up the rise of personal cloud market size.
By type- the personal cloud can be classified as online cloud, server device cloud, and network-attached storage cloud. Google drive and dropbox are some of the dominating producers of personal cloud. Here the services are available free for up to a certain storage limit and afterward is used for storage. Globally, the personal cloud industry is divided into user type, cloud type, revenue type, hosting type, and on the basis of region. Based on cloud type, the personal cloud market is segmented into server cloud, line cloud, NAD cloud, and home-made cloud. Based on revenue type, the industry is classified into direct revenue and indirect revenue. As per the user type, the industry is being divided into individual units, small and medium scale businesses. as per the hosting type, the market is being classified into providers hosting and user hosting. Regionally, the market is extended into the North American region, the Asia Pacific some of the European region, and some of the regions in the rest of the world.
By technology- technology led to the upsurge in the number of social media sites along with an increase in the number of smartphones and other smart devices that took place. Improvement of technology led to led to the storing up of photos, videos, and some of the important other files. Technology led to the usage of certain multiple devices which has helped in driving up the personal cloud storage market. Technology helped inconvenient and easy access to data and certain stored devices. Technology allowed the personal storage data to store information in a centralized location and allowed them to access it in a convenient manner. Globally the market uses certain technologies like machine learning, processing of natural language, automated reasoning, retrieval of certain information used for translating certain information, and predicting certain integrated solutions.
The value chain analysis starts with certain application developers, developing certain applications for certain cloud storage services on computers.
Globally the market is estimated to cover an influential growth rate during the assessment period. Geographically, during the forecast period of 2018-2023, it has been marked that the North American region is found to be the leading manufacturer of cloud storage devices. The growth developing factor in the North American region is in high demand for on-the-go storage rises. With the development of technology, the use of some electronic devices like smart devices has risen. Manufacturing of some of the devices integrates all the cloud services for storing information, videos, and some other documents. The region of Asia Pacific is in high demand and is growing at s huge rate. China, Some of the Japanese regions, and the Korean region have high ethernet speed facilities. High penetration of data centers along with the servers of cloud storage is helping the end-users to use the personal cloud. The key players offer free personal cloud space with certain limitations. The monthly and annual fee is being demanded.
Some of the key vendors playing in the whole of the personal cloud storage industry as per the personal cloud storage market trends based on the type of origin, presence of it in different regions, along with some recent developments and diversification of product and industry expertise so present. Some of them are Apple Inc. of the United States, Western Digital, Microsoft Corporation of the United States, Sugarsync of the United States, Google LLC of the United States, Melco Holdings Inc. of JAPAN, Box inc. of the United States, Amazon Web Services Inc. of the United States, Egypt of the United States, Seagate technology PLC and Dropbox Inc of the United States. Some of the other top players hold the major 30-30 percent market share contributing towards personal cloud storage market size. Some of them include Just cloud.com of the United States, Funambol Inc. of the United States, Dell Technologies Inc. of the United States, F-Secure Corporation Inc. of the United States, Mozy Inc. of the United States, Synchronogies Technologies Inc. of the United States, Elephant drive of the United States, Spideeoak Inc. of the United States, Mega Ltd Inc. of the United States, D- link Corporation of Taiwan and many more.
Apple inc. one of the dominating manufacturers has manufactured the company's revenue from the region of the United States and provides Apple Cloud services to the customers. In the region of the United States and Canada, high-speed internet services are available. This makes the region of the United States and Canada well accessible for the business units and individuals for transferring the data without any problems.
From report analysis, you will mark about the transformation so being taken during the forecast market period. It analyses the trends growing up in the market. The report majorly focusses on growth prospects of the market, analysis well about the market and certain restraining activities so performed here. The report study makes good analyses about the personal cloud storage industry and makes a good impact on various factors which include a new company threat, new marketing entrants, and bargaining about the power of suppliers. The report gives a study analysis about the emerging marketing trends, the upsurging opportunity, and some of the future estimations. It even reports about the growing market share during the review period where it hights the competition faced in the market.
Frequently Asked Questions (FAQ) :
The revenue types covered in the report include direct and indirect.
China, Japan, and Korea are backing the market growth in APAC.
The growth rate that the market can attain in the ensuing years is 44.3%.
The market value by the end of the appraisal timeframe can be USD 126 billion.
The prime vendors in the market for personal cloud across the globe are Seagate Technology PLC (US), Google LLC (US), Box Inc (US), Egnyte (US), Dropbox Inc (US), Microsoft Corporation (US), Melco Holdings Inc (Japan), Western Digital, Sugarsync (US), Amazon Web Services Inc (US), Apple Inc (US), and others.