Analysis of Personal Cloud market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global personal cloud market is likely to be valued at around US$ 30 Bn in 2022, and is slated to accelerate rapidly at a CAGR of 40%, reaching US$ 220 Bn by 2032. Demand for online cloud systems is set to increase at a CAGR of 37% across the assessment period of 2022 to 2032.
Personal Cloud Market Size (2022)
US$ 30 Bn
Sales Forecast for Personal Cloud (2032)
US$ 220 Bn
Global Market Growth Rate (2022 to 2032)
Key Companies Profiled
As per Fact.MR, a market research and competitive intelligence provider, the global personal cloud market thrived at a CAGR of over 20% from 2017 to 2021 to reach a valuation of US$ 30 Bn. Increasing demand for personal cloud solutions and services is a major factor expected to drive growth of the market.
Rising demand for high-frequency data access and data sharing, cost-effective, and efficient storage and safety against data loss are expected to augment personal cloud storage systems demand. Growing number of tie-ups with top personal cloud service providers along with bridging the connectivity and accessibility gap will further contribute by generating immense opportunities that will lead to personal cloud market growth.
Major factors driving demand for personal cloud are increase in number of social media sites, adoption of personal cloud solutions, rapidly increasing tech-savvy population, and increasing use of personal cloud services for storing photos, videos, and contacts. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 40% to top US$ 220 Bn by 2032.
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Adoption of the 'bring your own device' trend is expected to boost demand for personal cloud servers. In the IT sector, BYOD is increasingly being adopted at the workplace to access secure data. Individuals use cloud services such as iCloud and Google Drive for controlling data risk. Several personal cloud services are increasingly offering accessibility, enhanced storage, and access to share data with security features.
According to Insight Enterprises, in 2017, 59% of organizations allowed their employees to use their own devices at the workplace. Some organizations are offering personal cloud solutions in various industry sectors. For instance, Amazon Web Services provides cloud services to the IT sector.
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“Rising Need to Assimilate Voluminous Amounts of Data to Spur Personal Cloud Adoption in the U.S”
The U.S. market is likely to be valued at over US$ 12 Bn in 2022. The broad uptake of cloud-based storage technologies and personal cloud storage devices across major applications and white-label cloud offerings is expanding the personal cloud storage systems market size.
Furthermore, increasing investments made for the development of technology, the latest trends in personal cloud solutions, personal cloud storage devices, and the vast demand for reliable backup and recovery systems are complementing market growth.
Dominance is attributed to the growth of technology companies in the U.S. along with the rising adoption of cloud services from top personal online cloud storage providers in the U.S. by various business verticals. Moreover, the development of new and advanced personal cloud infrastructure and personal cloud storage devices by businesses in the country further supports the U.S. to stay ahead of the curve in the global market.
Deepening Penetration of High-Speed Internet Networks Leading to Proliferation
By 2032, China is expected to account for a market of roughly US$ 35 Bn, owing to the growing adoption of cloud services in various organizations and the increasing demand for file storage and sharing on servers.
Due to the increasing need for advanced intelligent solutions and the availability of fast broadband networks with enhanced multimedia devices, demand for the personal cloud in China is growing rapidly.
Growing Scramble by Enterprises to Upgrade Existing Infrastructure
Traction of personal cloud in enterprises is higher as compared to consumers. This is due to the affordability and top economies of scale that enable organizations to leverage personal cloud systems. Companies leave no stone unturned to compete in the cut-throat competitive world; hence, they spend a significant amount on adopting personal cloud storage.
Increasing investments among enterprises to upgrade their infrastructure and meet the rising demand of consumers fosters segment growth. For instance, in May 2020, Microsoft announced plans to invest around US$ 1 billion in a digital transformation plan in Poland to drive and accelerate its digital transformation, boosting competitiveness and supporting employment opportunities in the market. A CAGR of 30% is anticipated for this segment.
Indirect Revenue Source to be Most Prominent
Indirect revenue refers to revenue generated from sources such as licensing, advertising, business tie-ups with major technology providers or device manufacturers, and white-label cloud offerings. The surge in electronic advertising across the globe is one of the key factors propelling the demand for the best personal cloud storage.
In August 2019, Reliance Industries Limited partnered with the Microsoft-Azure Cloud Platform to offer comprehensive technology solutions from computing and storage to connectivity and productivity to small and medium businesses.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
The competitive landscape of the personal cloud market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
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By 2022, the personal cloud market is slated to be valued at US$ 30 Bn, according to Fact.MR
From 2017 to 2021, the personal cloud industry surged at an astounding 20% CAGR
From 2022-2032, personal cloud deployment is poised to surge at an astronomical 40% CAGR
As of 2032, Fact.MR anticipates the personal cloud industry to reach US$ 220 Bn
Personal cloud market value in the U.S is expected to reach US$ 12 Bn by 2022-end
In China, the market for personal cloud is expected to accumulate a value share of US$ 35 Bn by 2032
By type, NAS cloud is expected to grow the fastest, at a CAGR of 35% through 2032
Online personal cloud deployment is expected to be valued at US$ 115 Bn by 2032
Enterprise based personal cloud is likely to be most sought after, growing at a CAGR of 30%
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