Consumer Cloud Storage Services Market Opportunity and Forecast, 2021-2028

Consumer cloud storage is a cloud computing model in which data is stored on remote servers that can be accessed from the internet or cloud. It is maintained, operated, and managed by a cloud storage service provider on a storage server that is built on virtualization techniques. Consumer cloud storage services allow users to store, download, edit, and share their media content such as videos, images, documents, and various other files on the cloud. The consumer cloud storage supports more than 270 file formats and more than 100 languages. It facilitates working with personal devices such as smartphones, tablets, notebooks, and others. It is a remote server which is maintained, managed, and operated by cloud storage providers. It is basically a virtual mode of data storage. The data which is stored on the consumer cloud can be accessed and shared across devices through internet by the consumers. This provides a significant growth in the consumer cloud storage services market size.

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Increase in the number of mobile devices and rise in adoption & penetration of the internet are the major factors driving the growth of the consumer cloud storage services market. In addition, growth in demand for consumer cloud storage services for data storage as well as advancements in mobile communication technologies fuel the growth of the consumer cloud storage services market. However, lack of network bandwidth and resistance of customers for adoption of new technology and data security hamper the growth of the market. Furthermore, increase in need for technologically advanced storage solutions and high rate of adoption among the SME’s are anticipated to provide major opportunities in the market.

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The consumer cloud storage services market is segmented by storage tier, user age, and region. In terms of storage tier, the market is bifurcated into 50 GB-999 GB, 1 TB - 9.99 TB, and >= 10 TB. In terms of user age, the market is segmented into 40 years. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the consumer cloud storage services market analysis are IBM Corporation, Oracle Corporation, Microsoft Corporation, Google (Alphabet Inc.), Apple Inc., Dropbox Inc., Sync.com Inc., Amazon .com Inc., pCloud AG, Hubic (OVH), and Mediafire.

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KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global consumer cloud storage services market size along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global consumer cloud storage services industry from 2018 to 2026 is provided to determine the market potential.

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