As per latest industry analysis published by Fact.MR, the global personal cloud market was valued at around US$ 30 Bn in 2020, and is slated to accelerate rapidly at a CAGR of 40% to top US$ 220 Bn by 2031. Demand for online cloud systems is set to increase at a CAGR of 37% across the assessment period of 2021 to 2031.
Key Points Covered in Personal Cloud Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Personal Cloud Market Size in 2021
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Personal Cloud Market Growth to 2031
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Personal Cloud Industry and How to Navigate
- Recommendation on Key Winning Strategies
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Revenue Analysis of Personal Cloud from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
As per Fact.MR, a market research and competitive intelligence provider, the global personal cloud market thrived at a CAGR of over 20% from 2016 to 2020 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 2031.
How is Rising Adoption of Bring Your Own Devices (BYOD) Expected to Drive Personal Cloud Usage?
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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What are the Key Challenges Faced by Personal Cloud Service Providers?
Lack of awareness regarding the benefits of personal cloud and funds, alongside credible security concerns, is impeding market growth to some extent. Also, delivering affordable and safe data storage is a challenge that major vendors in the global personal cloud market are facing currently.
Data security and privacy on the cloud is one of the major challenges hindering development of advanced personal cloud infrastructure. Growing number of cyber-attacks in the past couple of years targeting small and medium businesses is also one of the major factors impeding demand for personal cloud services.
As per the Identity Theft Resource Center, hackers stole around $ 447 Mn consumer records in 2018 as compared to 198 Mn in 2017, which is nearly 126% increase during 2017-2018.
However, high initial costs that are required to set up personal cloud framework is a major factor expected to restrain growth of the personal cloud industry. In addition, less reach of technology in underdeveloped regions is expected to hamper market growth to a certain extent.
Which Region is the Most Lucrative Market for Personal Cloud Vendors?
North America leads with more than 40% share in the global market for personal cloud, owing to large base of customers with on-the-go storage needs coupled with higher purchasing power towards new technology-based products.
Additionally, penetration of connected technologies such as smart homes, smart devices, and so on is also driving demand for on-premise cloud for dumping backup data generated from multiple connected devices for ease of access from any mobile device.
North America is expected to hold the largest market share in personal cloud solutions and services due to increasing demand for NAS personal cloud and early adoption of pocket cloud storage.
Growing demand for NAS personal cloud in Japan, latest trends of personal cloud servers in Canada, and rising demand for personal cloud services in Germany are also supplementing demand growth for personal cloud across these countries.
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What is the Personal Cloud Demand Outlook for the U.S.?
The U.S. market was valued at over US$ 12 Bn in 2020. Broad uptake of cloud-based storage technologies 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, latest trends in personal cloud solutions, and vast demand for reliable backup and recovery systems are complementing market growth.
Dominance is attributed to the growth of technological companies in the U.S. along with rising adoption of cloud services from top personal online cloud storage providers in the U.S. by various business verticals. Moreover, development of new and advanced personal cloud infrastructure by businesses in the country further supports the U.S. to stay ahead of the curve in the global market from 2021 to 2031.
Will China Offer Increasing Opportunities for Personal Cloud Providers?
By 2031, China is expected to account for a market of roughly US$ 35 Bn, owing to growing adoption of cloud services in various organizations and increasing demand for file storage and sharing on servers.
Due to increasing need for advanced intelligent solutions and availability of fast broadband networks with enhanced multimedia devices, demand for personal cloud in China is growing rapidly.
Why is the Popularity of Personal Cloud Rising Rapidly in Enterprises?
Traction of personal cloud in enterprises is higher as compared to consumers. This is due to the affordability and top economies of scale that enables 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.
The market is said to be undergoing significant technological transitions, such as enhancement in AI technologies and use of mobile cloud storage. Enterprises highly adopt all these advancements.
Increasing investments among enterprises to upgrade their infrastructure and meet 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 support employment opportunities in the market.
Enterprises demanding advanced solutions to expand their market presence are expected to install the product, which, in turn, will augment personal online cloud demand over the coming years.
Enterprises today are significantly evolving to match their user demands. The convergence of cloud with mobile devices has changed the work culture within organizations. It has also driven enterprises to extensively adopt personal cloud servers to escalate their overall productivity.
Which Revenue Source of Personal Cloud is Fueling Market Growth?
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. Surge in electronic advertising across the globe is one of the key factors propelling market growth.
- 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.
How Has COVID-19 Impacted Demand for Personal Cloud?
Due to the COVID-19 outbreak, organizations are drastically changing their working structure to ensure employee safety and convenience. The convergence of cloud with mobile devices has altered the working atmosphere and has allowed companies to use the private cloud extensively to improve their overall efficiency.
Authorization to use one's own mobile device to access work content from anywhere and at any time has further driven growth of market size. The onset of the COVID-19 pandemic significantly influenced the market. The pandemic upended how companies work and operate securely remotely.
Besides, increasing number of remote working employees using video conferencing, collaboration services, and back-end support services, alongside increasing traffic on networks, has propelled home-made personal cloud demand. Additionally, rising need for rapid data processing and big data across verticals, globally, has created several major market opportunities.
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The personal cloud storage market is witnessing several strategic partnerships, alongside other strategic initiatives such as expansion, collaborations, mergers & acquisitions, and product & technology launches.
Top personal online cloud storage providers are making strategic investments in research & development activities and fostering their expansion plans.
- In June 2021, Wisekey International Holding SA, a leading cybersecurity and IoT company, launched its WISeID Cloud Storage service as a new addition to the WISeID platform for digital identity and cybersecurity services. WISeID Cloud Storage service enables users to keep protected file storage in the cloud, in servers secured by WISeKey’s Swiss technologies.
Personal Cloud Industry Report Scope
Market size value in 2020
USD 30 Billion
Market forecast value in 2031
USD 220 Billion
CAGR of 40% from 2021 to 2031
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Personal Cloud Industry Research
- Online Cloud
- NAS Cloud
- Server Cloud
- Home-Made Cloud
- On-Premise Cloud
- Direct Revenue Source of Personal Cloud
- Indirect Revenue Source of Personal Cloud
- Service Provider Hosted Personal Cloud
- User Hosted Personal Cloud
- Use of Personal Cloud by Consumers
- Use of Personal Cloud by Enterprises
- Use of Personal Cloud by Small Businesses
- Use of Personal Cloud by Medium Businesses
Personal Cloud Market: Report Scope
A recent study by Fact.MR on the personal cloud market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates recent market developments, strategic market growth analysis, market size, category market growths, product approvals, product launches, geographical expansions, and technological innovations associated with personal cloud market!
The study also provides the dynamics responsible for influencing the future status of the personal cloud market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies providing personal clouds, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth, product enhancements, and revenue generation from personal cloud across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue through of personal cloud during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for personal cloud vendors?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the personal cloud industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for personal cloud are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a company can look to achieve, along with identifying potential resources, considering the revenue perspective in the global personal cloud market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include market forces analysis, which is expected to have a momentous influence on the growth of the personal cloud market during the forecast period.
Country-specific valuation on revenue for personal cloud has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
The report sheds light on leading providers of personal cloud, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the personal cloud has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the personal cloud market.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of personal cloud market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
The global personal cloud market is currently worth more than US$ 30 Bn.
From 2016-2020, value sales of personal cloud registered a CAGR of 20%.
Rising demand for personal cloud solutions and services to sync, store, and share documents, files, and photos is expected to augment market growth over the coming years.
Amazon Web Services Inc., Apple Inc., Box Inc., Microsoft Corporation, and Dropbox Inc. are key providers of personal cloud.
North America, with 40% global market share, will largely contribute to the growth of personal cloud revenue.
The market for personal cloud in Germany is projected to expand at a CAGR of more than 25% during 2021 – 2031.
Online cloud continues to be the highest revenue-generating segment, accounting for 40% of global revenue.
Sales of personal cloud in Japan are forecasted to reach over US$ 35 Bn by 2031.
The U.S., China, U.K, Germany, and Japan are key providers of personal cloud systems.
The market is expected to top a value of US$ 220 Bn by the end of 2031, with sales revenue expected to register a CAGR of around 40%.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.