Personal/Private Cloud Market | Fact and Forecast | Growth Factors | Key Trends

Growing customer awareness is expected to boost the growth of the Personal Cloud services in future. Personal cloud for individuals, which is the foremost application of these solutions, would continue to lead the market in future. However, the growing demands from the Asia-Pacific region would lead to a major turnaround in the market and would constitute about two-fifths of total market share in 2020, surpassing North America and Europe.

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Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era. Increasing adoption of smartphones, tablets and other mobile devices have boosted the growth of personal cloud market owing to increasing storage requirements. Several organizations have focused on improving productivity by developing a virtualized workplace using personal cloud storage solutions.

The internet and social media applications as well as emergence of multi-featured, affordable smartphone devices have led to the trend of storing and accessing personal data using personal cloud platforms. Improvised secure features and personalized data storage offer an exceptional user experience. This has resulted in the increased demand of personal cloud solutions among individuals and has created growth opportunities for developing customized solutions. Additionally, the growing trend of adopting Bring-Your-Own-Device (BYOD) among organizations has helped in boosting the growth of the market.

Cost-effectiveness and easy availability of cloud solutions from service providers has increased their demand over user-hosted cloud storage devices. The provider-hosted cloud solutions segment would maintain its leading position, constituting nearly 75% of the market value by 2020. The user-hosted cloud solutions would exhibit a significant improvement in terms of market share, contributing nearly 25% of total market value by 2020, growing at a CAGR of 46% during the forecast period.

Numerous players are offering personal cloud solutions in various packages with attractive price limits. Direct revenue collected through monthly and annual charges would be the leading mode. However, the revenue generation through indirect modes such as advertisement and lead generation would surpass the revenue generated through the direct modes by 2019.

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