Personal Cloud Market Size, Share Report, & Growth 2032

Personal Cloud Market Size

According to Zion Market Research, the global Personal Cloud Market was worth USD 48.19 Billion in 2023. The market is forecast to reach USD 345.16 Billion by 2032, growing at a compound annual growth rate (CAGR) of 21.8% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Personal Cloud Market industry over the next decade.

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Personal Cloud Market: Overview

The personal cloud market provides accessibility, better storage, and sharing of user data additionally as improved security measures. Personal cloud services offer convenient and faster access to data, leading to its extensive popularity amongst the population and development of the private cloud market. The fast-growing tech-savvy populace has significantly resulted in the increasing demand for cloud computing services within recent times that have led to the fostering of the private cloud market. The rising employment of camera-based devices, like tablets & smartphones, has generated an enormous requirement for a secure platform to amass digital content, resulting in the event of a private cloud platform. Personal cloud services will facilitate file sharing and storage amongst the enterprises and employees who have accepted the BYOD trend, which can boost the private cloud market.

New product launch by market players is additionally claimed to spice up the private cloud market. for instance, in October 2017, Beeks Financial Cloud extended its connectivity and cloud hosting service to the cryptocurrency market, thereby boosting the private cloud market. Technological advancements so on launch affordable solutions and produce high-quality goods are likely to unlock new growth of opportunities within the years to return. 

COVID-19 Impact Analysis  

The global Personal Cloud Market has witnessed a slight decline in sales for the short term to the lockdown enforcement placed by governments to contain COVID spreading. However, increased data analytics and clinical insight requirements along with high spending on cloud-based application development and ERP solutions amidst the COVID-19 pandemic are creating revenue opportunities for cloud service providers. Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.

Personal Cloud Market: Growth Factors

The industry is predicted to grow over the subsequent seven years at a big rate on account of accelerating investments for technological development. Rising demand for storing and sharing personal or professional data is predicted to reinforce the market over the forecast period. Demand for cloud computing is predicted to extend with the rising population and its technology awareness among consumers primarily in the Asia Pacific.

Personal Cloud Market: Segmentation

Based on deployment type,  the market is segmented into individual, small business, and large organizations. The individual user segment is expected to dominate the market over the forecast period. Enterprises today are significantly evolving to match their user demands. The convergence of the cloud with mobile devices has changed the work culture within organizations. it's also driven enterprises to extensively adapt the personal cloud to escalate their overall productivity. The authorization to use one’s mobile device to access work content, from anywhere and at any time, has further supplemented the increase within the personal cloud market.

The market can also be segmented into host types including user host and provider host. The user demand for hosted cloud storage is expected to be high due to the easy availability and cost-effectiveness of cloud solutions from service providers. However, a provider-hosted segment is expected to dominate the personal cloud industry over the next seven years.

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Personal Cloud Market: Report Scope

Personal Cloud Market: Regional Analysis

North America is predicted to carry the most important market size within the global personal cloud market, while Asia Pacific (APAC) is probably going to grow at the very best CAGR during the forecast period. North America is predicted to be the leading region in terms of adopting personal cloud services. within the US and Canada, the developed economies of North America, there's high specialization in innovations obtained from Research and Development (R&D) and technology. Moreover, the presence of major personal cloud vendors within the region drives the market growth. The APAC region is predicted to be the fastest-growing region within the personal cloud market, owing to the growing need for advanced intelligent solutions.

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Personal Cloud Market: Competitive Players

The report present comprehensive competitive outlook with company profiles of the key players operating in the global market. Key participants profiled in the report include:

• Apple Inc.
• Amazon
• Microsoft Corp.
• Google
• Dropbox Inc.
• Seagate
• Egnyte
• Buffalo Technology
• SpiderOak
• MEGA Ltd.
• D-Link Corporation
• ElephantDrive
• Mozy Inc.
• POLKAST LLC
• Dell
• Just cloud.com 
• Sugarsync

The global Personal Cloud Market is segmented as follows:

By Deployment Type

• Individuals
• Small Businesses
• Medium Businesses

By Hosting Type

• User Hosting
• Provider Hosting

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa