Personal Cloud Market is expected to reach $89.9 billion by 2020, at a CAGR of 33.1% during the forecast period 2015-2020.

Personal Cloud Market is expected to garner $89.9 billion by 2020, registering a CAGR of 33.1% during the forecast period 2015-2020.

The Global Private/pesonal cloud market is a storage platform that enables the customers to access, synchronize and share stored data across various mobile devices such as smartphones and tablets. In this era of digitalization, there is an increasing need of storing and sharing personal data or professional data. The rapidly increasing tech-savvy population has considerably led to the growing demand of cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphones and tablets, has created a huge demand for a secure platform to store digital content. Personal cloud services would facilitate file storage and sharing among the employees and enterprises who have adopted the BYOD trend.

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Personal cloud services offer better storage, accessibility and sharing of user data along with enhanced security features. They have 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. The use of these services for storing photos, videos, contacts and other important files among individuals is the most dominant application as compared to other applications. The usage of multiple devices would drive the rapid adoption of personal cloud solutions among individuals. In future, these services are expected to witness widespread demand among individual and business customers owing to the growing need for data storage platforms, leading to the increased adoption of personal cloud services.

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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.

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