Personal Cloud Market Set for Rapid Growth, To Reach Around USD 115.05 Billion by 2022
Zion Market Research has published a new report titled “Personal Cloud Market by Deployment Type (Individuals, Small Businesses, Medium Businesses) by Hosting Type (Provider Hosting, User Hosting): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022”. According to the report, the global personal cloud market was valued around USD 20.79 billion in 2016 and is expected to reach USD 115.05 billion by 2022, at a CAGR of 33.02% for the forecast period from 2017 to 2022.
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Personal cloud market offers better storage, accessibility, and sharing of user data along with enhanced security features. Personal cloud services provide faster and convenient access to data, leading to its widespread popularity among the population. The fast increasing tech-savvy population has considerably led to the growing demand for cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphone and tablets, has created a huge demand for a secure platform to store digital content. Personal cloud services would facilitate file storage and share among the employees and enterprises who have adopted the BYOD trend.
The market has set up new standards for individuals to utilize the cloud computing services by offering better user experience and ease of use. The increase in the number of social media sites and upsurge in smartphone and broadband connections have boosted the growth of personal cloud services.
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As the technology is getting advanced day by day personal cloud services have started offering interactivity, convenience and user privacy which was not possible before but the advancing technology has made it possible. Fast & real time access to data and growing awareness is a couple of drivers influencing the growth of the market. The personal cloud market has vast opportunities and challenges in the forecast period. Developing economies can one of the opportunities for the market.
The global personal cloud market is categorized into deployment type, hosting type and regions. The deployment of personal cloud market is segmented into individuals, small businesses and medium businesses. The hosting type is segmented into user hosting and provider hosting. The regional segment is categorized into five main regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The major participants in the personal cloud market which includes Amazon, Apple, Google, Seagate, Box, Microsoft, Dropbox, Engyte, Buffalo Technology, and Sygarsync.
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