A recent report published by Infinium Global Research on the personal cloud market provides an in-depth analysis of segments and sub-segments in the global as well as regional personal cloud market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional personal cloud market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global personal cloud market. According to the report, the global personal cloud market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

Market Insight

A personal cloud is a cloud storage platform that allows the customers to access, synchronize, and share stored data across cloud and devices. A personal cloud is an assembly of digital services and information that can be retrieved from any location given the users the privilege to access the data. Personal cloud services provide better storage, accessibility, and sharing of user data coupled with enhanced security features. They have set up new standards for individuals to utilize cloud computing services by providing better user experience and ease of use. Personal Clouds have numerous advantageous features such as a capacity for larger storage, cheap cost, and accessibility from various devices.

The upsurge in the number of social media sites and an increase in smartphone and broadband connections have heightened the growth of personal cloud services which in turn drives the personal cloud market growth. The usage of these services for storing photos, videos, contacts, and other important files among personalities is the most dominant application as compared to other applications. The use of multiple devices is anticipated to drive the rapid adoption of personal cloud solutions among individuals. In prospect, these services are projected to witness widespread demand among individual and business customers because of the growing need for data storage platforms, leading to the augmented adoption of personal cloud services and boost the growth of the personal cloud market. Additionally, the current concern over the spread of the COVID-19 outbreak is also expected to have a positive impact on the personal cloud market. Cloud services and solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. Besides, the current situation owing to the COVID-19 outbreak will encourage pharmaceutical vendors and healthcare establishments to improve their R&D investments in cloud solutions, acting as a core technology for allowing numerous initiatives. Usage of cloud solutions and services can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. Cloud services can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities.

Among the geographies, North America region is expected to dominate the global personal cloud market as countries such as the U.S. and Canada are the front-runners of the adoption of new technologies. North America region is anticipated to hold the largest market size in the global personal cloud market, while the Asia Pacific region is likely to grow at the highest CAGR during the projection period. North America region is expected to be the leading region in terms of adopting personal cloud services. In the US and Canada, the developed economies of North America region, there is a high focus on innovations obtained from Research and Development (R&D) activity and technology. Furthermore, the presence of major personal cloud companies in the region is expected to drive market growth. The Asia Pacific region is expected to be the fastest-growing region in the personal cloud market, owing to the growing need for advanced intelligent solutions.

Segment Covered

The report on the global personal cloud market covers segments such as revenue type, hosting type, and end user. On the basis of revenue type, the sub-markets include direct, and indirect. On the basis of hosting type, the sub-markets include service providers, and consumers. On the basis of end user, the sub-markets include individuals, and enterprises.

Companies Profiled:

The report provides profiles of the companies in the market such as GoogleLLC, MicrosoftCorporation, AppleInc, Dropbox, Inc., Amazon Web Services, Box, Inc., Seagate Technology PLC, Western Digital, Synchronoss Technologies, Inc., and Egnyte.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the personal cloud market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.