Personal Cloud Market | Size, Share, Growth | 2022-2029

Personal Cloud Market

 Personal Cloud Market was valued at USD 17.6 billion in 2021 and is estimated to reach USD 76.7 billion in 2029, and the market is projected to grow at a very higher CAGR of 20.2% during 2022-2029.

For Additional Insights, Click to Access Complete Report – https://www.gmiresearch.com/report/personal-cloud-market/

The factors driving growth of the Personal Cloud Market includes increasing penetration of smartphones around the world, emerging trend of Bring Your Own Device (BYOD), growing demand for real-time data access and data sharing, rise in the number of broadband connections and improvements in the living standards. Moreover, technological innovations in personal cloud solutions, growing adoption of Software as a Service (SaaS), Big Data Analytics and Internet of Things (IoT), emerging need to store and share personal data and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major players on research and development, growing disposable incomes, strategic alliances between companies and rising population growth rates, are further contributing towards the market growth.

However, growth of the Personal Cloud Market is hindered due to growing concerns related to data security.

The prominent players operating in the market are Seagate Technology LLC, Box, Inc., Western Digital Corporation, Microsoft Corporation, Google LLC, Apple Inc., Egnyte, Inc., Dropbox, Amazon Web Services, Inc., and Synchronoss, among others.

Based on Type, the Online Cloud segment is predicted to grow at a significant CAGR during the forecast period

Online cloud solutions offer recovery option along with easy sharing, provides easy accessibility and are cost-effective, are some of the features pushing Personal Cloud Market size.

Based on User Type, the Enterprises segment is projected to grow at a robust CAGR over the forecast period

Increasing penetration of smartphones, growing acceptance of Bring Your Own Device (BYOD) and advancements in cloud infrastructure, are propelling segment’s growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of the leading players such as Microsoft Corporation, Google LLC, and Apple Inc., rise in the number of smartphone users across United States, growing adoption of advanced technologies by major companies, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

  • In 2019, Google LLC completed the acquisition of Elastifile company, a cloud storage provider. Through this acquisition, the company plans to implement new strategies for achieving profitability in the data and cloud storage space and to integrate Elastifile in the Google Cloud Filestone.
  • In 2019, Western Digital Corporation introduced various personal storage solutions that enable the consumers to organize, capture, and share their digital content and offers speed, reliability, ruggedness, and ease of use features.

Market Segmentation

Segmentation by Type

  • NAS Device Cloud
  • Online Cloud
  • Homemade Cloud
  • Server Device Cloud

Segmentation by User Type

  • Consumers
  • Enterprises

Global Personal Cloud Market by Revenue Type

  • Direct Revenue
  • Indirect Revenue

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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