Global Consumer Cloud Storage Services Market Valuable Growth Prospects and Insights on Future Scenario

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Global Market Study on Consumer Cloud Storage Services: >=40 Years Expected to be the Second Largest User Age Segment in Terms of Value by 2025 End” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Consumer Cloud Storage Services market have been elaborated upon in the research report.

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Global consumer cloud storage services market to register stellar growth throughout the period of assessment

As stated by Persistence Market Research in its recent research report on global consumer cloud storage services market, the global market is expected to grow with a significant jump to attain a notable valuation by the end of the forecast period. The global market for consumer cloud storage services is projected to grow at a stellar rate to register a CAGR of 15.9% throughout the period of assessment, 2017-2025. This market has seen positive growth since 2012-2016 timeline. The high growth can be attributed towards the growth in HD video consumption, affordability of smartphones and increasing trend of BYOD (bring your own device) that is helping cloud consumption. Number of Laptop users worldwide is anticipated to grow as digitization of content increases. Laptop users will be the primary addressable market for Cloud Storage Services providers. Smartphone users will grow exponentially with the increase of disposable income in developing economies. Cloud services provider will witness high gain from smartphone adoption as cloud serves as a convenient way of data transfer for users. As per the analytical research study on consumer cloud storage services, the global market is estimated to reach a valuation of more than US$ 2800 Mn by the end of the assessment year from a value of around US$ 870 Mn in 2017.

18-40 segment to hold a lion’s share in the global consumer cloud storage services market during the forecast period

The 18-40 segment in the user age category is expected to be highly lucrative segment in the coming years. The individuals lying in the 18-40 age category are prime users of cloud storage services. The increasing number of population and growing use of cloud services among people in the 18-40 age group has accelerated the growth of the consumer cloud storage services market. The 18-40 user age segment is expected to reach a valuation of more than US$ 2100 Mn by the end of the year of assessment (2025) from a value of US$ 610 Mn in 2017. This segment is projected to grow at the fastest rate to register a CAGR of 17.4% during the period of forecast.

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