Personal Cloud Market
Personal Cloud Market Analysis Report By Cloud Type (Online Cloud, NAS Cloud, Server Cloud, Home-Made Cloud), By Revenue (Direct, Indirect Revenue Source of Personal Cloud), By Hosting Type (Service Provider Hosted, User Hosted), By User Type, By Region - Global Insights 2022-2032
Global Personal Cloud Industry Overview (2022-2032)
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%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
Demand Analysis of Personal Cloud from 2017-2021 Vs Future Outlook 2022-2032
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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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 is the Personal Cloud Demand Outlook for the U.S.?
“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.
Will China Offer Increasing Opportunities for Personal Cloud Providers?
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.
Why is the Popularity of Personal Cloud Rising Rapidly in Enterprises?
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.
Which Revenue Source of Personal Cloud Storage is Fueling Market Growth?
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.
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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.
- 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.
- In September 2021, Microsoft and global travel technology company OYO announced a multi-year strategic alliance to co-develop next-gen travel and hospitality products and technologies. OYO will adopt Microsoft Azure as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry.
Key Market Segments in Personal Cloud Industry Research
By Cloud Type
- 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
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