Global Personal Cloud Market Size, Share, Demands, Trends, Key Players, Covid-19 Impact Analysis and Forecasts to 2027

The global personal cloud market is projected to grow from USD 20.8 billion in 2022 to USD 50.8 billion by 2027 at a compound annual growth rate (CAGR) of 19.6% during the forecast period. Personal Cloud market is rapidly gaining acceptance worldwide by enterprises and corporates. It helps to store, sync, share, upload files easily and also helps to back up files online and offline.

The report profiles the following key vendors:
Alphabet Inc, (US), Microsoft Corporation (US), Apple Inc. (US), Dropbox, Inc. (US), Amazon Web Services, Inc. (US), Box(US), Seagate Technology LLC (US), Western Digital Corporation (US), Synchronoss Technologies, Inc. (US), Egnyte, Inc. (US), Buffalo Inc. and Melco Holdings Inc. (Japan), Funambol, Inc. (US), j2 Global, Inc. (US), D-Link Corporation (Taiwan), ElephantDrive Inc. (US), ownCloud(Germany), Cloudike(US), SpiderOak Inc. (US), pCloud AG (Switzerland), Tresorit, and ASUS Cloud Corporation (Switzerland), Internxt Inc. (Spain), IceDrive, Sync.com(Canada), iDrive Inc. (US), MiMedia Inc. (US), Dracoon(Germany), and OpenDrive Inc. (US).

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The indirect revenue segment is expected to grow at a higher rate during the forecast period
Indirect revenue represents the part of the revenue generated from other sources rather than direct subscription pricing. The indirect revenue could be licensing, advertising, business tie-ups with major technology providers or device manufacturers, and white-label cloud offerings. Presently, most of the personal cloud service providers do not consider these revenues as a major part. However, it is expected that in the coming years this scenario will change. A major part of the indirect revenue is expected to come from North America as the sale of electronic devices is more compared to the other regions.

The large enterprises segment is expected to hold a higher market share during the forecast period
Storage space is a consideration when choosing a cloud provider for huge files. The service must not only supply adequate capacity for all those massive files, but it must also do so at a reasonable cost for large enterprises. Some of the key players for personal cloud for large enterprises are pCloud, Icedrive, Google Drive, Dropbox.One of the finest free cloud storage is pCloud, which offers a 10GB free plan with a 50GB transfer limit. Large enterprises use personal cloud to provide remote work to the employees, store large files, and manage IT infrastructure.

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Asia Pacific region is expected to grow at the higher rate
The market is expected to grow due to the increasing use of cloud computing and advancements in the hybrid cloud deployment model. Other factors, such as rising internet penetration, IoT growth, AI, ML big data adoption, are growing to cut capital and operating expenses, which is expected to boost the market storage in the region. Countries in the region are continuously adopting personal cloud for real-time data sharing; access; storing photos, videos, and files; and syncing. This is due to the presence of rapidly growing economies, such as China, Japan, and India. Among these, Japan and India are estimated to be the most potential players in adopting personal cloud initiatives. China's current economic and political challenges have led to some optimism in the country's IT sector. Cloud storage appears to have taken the Chinese IT industry and its growth over the last few years. With more people having access to mobile devices, the internet has become more pervasive and rapid.
Personal cloud arose to meet an undivided demand for adequate storage and data sharing points among mobile users. Behind the flurry of activity is a growing level of interest from China and other international players.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants is as follows:
• By Company Type: Tier I:34%, Tier II: 36%, and Tier III:30%
• By Designation: C-Level:33%, D-Level:35%,and Others:32%
• By Region: North America:42%, Europe:24%, APAC: 20%, Row: 14%

Research Coverage:
The personal cloud market is segmented by User Type, Revenue Type and Region. By User type personal cloud market is segmented into Consumers and Enterprises. Enterprises are sub segmented into SMEs and large enterprises. By Revenue type is sub segmented into Direct Revenue and Indirect Revenue. By region the market is segmented into North America, Europe, APAC, MEA and Latin America.

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Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in the personal cloud market with information on the closest approximations of the revenue numbers for the overall personal cloud market and the sub segments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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This release was published on openPR.