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Personal Cloud Market Research Report Information By Type (Online Cloud, Server Device Cloud, Network- Attached Storage Cloud) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/ICT/5576-HCR | 100 Pages | Author: Shubham Munde| April 2024

Personal Cloud Market Overview

Personal Cloud Market Size was valued at USD 35.2 billion in 2022. The Personal Cloud market industry is projected to grow from USD45.8128 Billion in 2023 to USD 377.1726 billion by 2032, exhibitinga compound annual growth rate (CAGR) of 30.15% during the forecast period (2023 - 2032). The growing demand for expanded storage capacity in consumer electronic devices and the increased focus on robust disaster recovery planning are significant market drivers driving the market's growth.

Personal Cloud Market Overview

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Personal Cloud Market Trends

The market is experiencing growth due to the increased demand for data storage

More and more people are seeking storage solutions for their photos, documents, folders, and files, leading to a rise in the need for data storage. Cloud technology has revolutionized the availability of flexible and cost-effective storage options for businesses of all sizes. The personal cloud has also emerged as a way for organizations to reduce costs, gain flexibility, and enhance their IT capabilities. Data is now utilized for personal and professional purposes, highlighting the importance of securing data. There is a huge demand for cloud storage, with many providers offering unlimited storage options. The need for real-time data access, data sharing, cost-effective storage solutions, data backup, and protection against data loss has further fueled the demand for personal cloud services. Additionally, increasing data generation, digital contingency planning, and implementing disaster recovery strategies are the primary drivers of market CAGR.

Additionally, according to statistics on smartphone usage, approximately 3.2 billion individuals use smartphones worldwide, with over 5 billion owning mobile devices. Even children are getting access to mobile devices at a young age, and mobile app downloads have reached a staggering 194 billion. With around two-thirds of the world's population now connected via smartphones, internet users have significantly increased. This has created a high demand for smart device users and cloud-based services. Cloud-based services have brought numerous benefits, including reduced implementation time, quicker time to value, and the ability to rapidly scale, lowering infrastructure, energy, and facility costs. These factors have created favorable opportunities for the personal cloud market.

Additionally, the rise of digital content, the widespread internet usage, and the need for disaster recovery plans have opened up further opportunities for the personal cloud market. North America, in particular, has seen a high demand for electronic devices, contributing to the potential for business expansion and indirect revenue generation. Integrating the cloud with mobile applications has revolutionized mobile network applications and boosted business productivity. Emphasizing innovation in specific systems has also driven market growth. The increasing adoption of technology and a tech-savvy culture have improved the utilization of computing services across the entire market.Thus, these factors drive the Personal Cloud market revenue.

Personal Cloud Market Segment Insights

Personal Cloud Type Insights

Based on type, the Personal Cloud market segmentation includes online cloud, server device cloud, network- attached storage cloud. The online cloud segment dominated the market; online cloud services have emerged as the preferred choice for storing and accessing personal data due to their convenience and accessibility. Users can conveniently access their data from any internet-connected device by securely storing files on remote servers. This flexibility has made online cloud services highly popular among individuals and businesses, contributing to their dominance in the personal cloud market.

Figure1: Personal Cloud Market, byType, 2022 & 2032(USD billion)

Personal Cloud Market, byType, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Personal Cloud Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American personal cloud market area will dominate this market; owing to the growth developing factor in the North American Region, high demand for on-the-go storage rises will boost the market growth in this Region.

Further, the major countries studied in the market reportare The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Personal Cloud market accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. Further, the key players in the GermanPersonal Cloud marketoffer free personal cloud space. Region is the leading manufacturer of cloud storage devices, holding the largest market share, and the UK Personal Cloud market was the fastest growing market in the European Region.

The Asia-Pacific Personal Cloud Market is expected to grow fastest from 2023 to 2032. The widespread availability of data centers and cloud storage servers has significantly enabled end-users to access and utilize personal cloud services. The high penetration of these infrastructure resources has allowed individuals to leverage personal cloud solutions for their data storage and management needs. Moreover, China’s Personal Cloud market held the largest market share, and the Indian Personal Cloud market was the fastest-growing market in the Asia-Pacific region.

Personal Cloud Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Personal Cloud market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Personal Cloud products industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Personal Cloud industry to benefit clients and increase the market sector. The Personal Cloud industry has offered some of the most significant advantages recently. Major players in the Personal Cloud market, including 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., and others, are attempting to increase market demand by investing in research and development operations.

Microsoft Corporation is a well-known technology company based in Redmond, Washington. It is recognized for its popular software offerings such as the Windows operating system, the Microsoft Office suite, and web browsers like Internet Explorer and Edge. In a recent partnership, Microsoft joined forces with BIAL (Bangalore International Airport Limited) to introduce the BIAL Genie Hackathon. The collaborative initiative aims to foster the development of an MS Azure application specifically designed for the airport.

Google LLC is a prominent technology company based in the United States, specializing in various fields such as artificial intelligence, online advertising, search engine technology, cloud computing, software development, quantum computing, e-commerce, and consumer electronics.In a collaborative effort, Google Workspace and Adobe have joined forces to enhance user experience. The partnership aims to facilitate the search for creative cloud assets and enable users to easily attach public links to synchronized files, libraries, and mobile device creations directly within the Gmail platform, eliminating the need to switch between applications.

Key Companies in the Personal Cloud market include

  • JAPAN, Box Inc. of the United States

  • Amazon Web Services Inc. of the United States

  • Egypt of the United States

  • Seagate Technology PLC

  • Dropbox Inc of the United States

  • Others

Personal Cloud Industry Developments

November 2021: Microsoft Corporation and Bangalore International Airport Limited (BIAL) have collaborated to initiate the BIAL Genie Hackathon. This hackathon aims to develop a new application utilizing Microsoft Azure, a cloud computing platform provided by Microsoft. Through this collaboration, innovative ideas and solutions will be fostered to enhance the airport experience and address the evolving needs of travelers. The BIAL Genie Hackathon provides a platform for developers to leverage the capabilities of MS Azure and create impactful applications that can optimize airport operations and improve passenger services.

June 2021: Box and Google Cloud announced a strategic partnership to revolutionize cloud-based work processes. This collaboration focuses on enhancing the cloud content management platform's scalability, performance, and intelligence. By leveraging the combined expertise of Box and Google Cloud, the partnership aims to deliver a comprehensive and efficient solution for managing and accessing content in the cloud. This strategic alliance enables businesses to optimize their work processes and leverage advanced technologies for improved collaboration and productivity.

Personal Cloud Market Segmentation

Personal Cloud Type Outlook

  • Online cloud

  • Server device cloud

  • Network-attached storage cloud

Personal Cloud Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size2022 USD 35.2 billion
Market Size 2023 USD 45.8128 billion
Market Size2032 USD 377.1726694 billion
Compound Annual Growth Rate (CAGR) 30.15%(2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled 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., and others
Key Market Opportunities The growth of digital content, increased internet usage, and the importance of disaster recovery plans present opportunities to expand the personal cloud market.
Key Market Dynamics Increasing additional storing of consumer electronic devices and enhanced improvement for disaster recovery planning.

Frequently Asked Questions (FAQ) :

The Personal Cloud market size was valued at USD 35.2Billion in 2022.

The market is Estimated to grow at a CAGR of 30.15%during the forecast period, 2023-2032.

North America witnessed the largest share of the market

The key players in the market are 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., and others.

The Online cloud Personal Cloud category dominated the market in 2022.

The Asia Pacific had the fastest-growing CAGR in the market.

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