ID: MRFR/ICT/7219-HCR | February 2021 | Region: Global | 111 pages
Personal cloud storage is a special form of cloud storage for home users to store and safe keep their personal data. Although personal cloud storage is specially designed for sharing photos, videos, and documents, the personal cloud often also provides streaming options for different multimedia files. The global personal cloud storage market is estimated to witness a gradual growth owing to the advent of modern technologies and innovations in the IT sector. The concept of cloud revolves around providing cloud storage to store data for residential users as the cloud storage is designed for storing and sharing data such as photos, documents, and videos.
The Global Personal Cloud Storage Market is expected to register a CAGR of 35.6% during the review period, 2019–2025.
Demand for efficient storage, increased frequency of data access, data sharing, usage of portable devices such as tablets and multimedia phones, cost-effective storage, and safety against data loss are expected to drive the market over the next few years. A low degree of awareness, credible security concerns, and a lack of funds are expected to restrain market growth. Delivering affordable and safe data storage is a challenge for cloud service providers.
The global personal cloud storage market has been segmented based on revenue type, user type, hosting type, and regions. The provider hosting type is expected to grow significantly and dominate the hosting type segment with a larger share than users hosting. Also, the individual user segment is attributed to have the highest revenue segment. However, small business deployment types would constitute the fastest CAGR during the forecast period.
The Global Personal Cloud Storage Market is characterized by the presence of several regional and local providers. Some of the Key Players in the market are Amazon, Apple, Google, Seagate, Box, Microsoft, Dropbox, Engyte, Buffalo Technology, Sygarsync., Lima Technology, Gemalto, MEGA Ltd., D-Link Corporation, ElephantDrive, Mozy Inc., POLKAST LLC, and Dell among others.
The Global Personal Cloud Storage Market has been segmented based on revenue Type, User Type, Hosting Type, and Region.
By Revenue Type, the market has been segmented into direct revenue and indirect revenue.
By User Type, the market has been divided into individual, small business and medium business.
By Hosting Type, the market has been divided into providers hosting and users hosting.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Geographically, the Global Personal Cloud Storage Market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America dominates the personal cloud storage market owing to the advent of new technologies and increased awareness among the masses in the region. Along with North America, Europe is expected to show significant growth opportunities during the forecast period.
Asia-Pacific is estimated to grow rapidly with the highest CAGR and is expected to contribute immensely to the market revenue. The market in the Middle East and Africa is also expected to grow and its progress will rely heavily on the need for service agility and data security concerns. Similarly, the market in South America is expected to grow steadily over the forecast period.
Key Questions Addressed by the report
Frequently Asked Questions (FAQ) :
The personal cloud storage market can thrive at 35.6% CAGR by 2025.
The personal cloud storage market can achieve a lucrative valuation by 2025.
POLKAST LLC, D-Link Corporation, MEGA Ltd., Mozy Inc., ElephantDrive, and Dell are some reputed organizations in the personal cloud storage market.
The rise in data accessing frequency can bolster the expansion of the global market of personal cloud storage.
Corporates in APAC are actively deploying cost-effective personal cloud storage solutions, which can prompt the regional personal cloud storage market growth.