At 19.49% CAGR, Personal Cloud Market Size to Hit US$ 59.4 Billion in 2027, Says IMARC Group | Amazon Web Services Inc. (Amazon.com Inc), Apple Inc., Barracuda Networks Inc, Box Inc., Buffalo Americas Inc, Dropbox Inc.

According to the latest report by IMARC Group, titled "Personal Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global personal cloud market size reached US$ 19.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 59.4 Billion by 2027, exhibiting a growth rate (CAGR) of 19.49% during 2022-2027.

Personal Cloud Market Trends and Future Opportunities:

The rapid digitization and the increasing need for high-frequency data storage systems with real-time access to save, store, and share personal and professional files are primarily driving the global personal cloud market growth. Additionally, the proliferation of the internet, the rising number of social media platforms, and the extensive utilization of camera-equipped devices, such as smartphones and tablets, to share digital content are supplementing the product demand. Moreover, the personal cloud offers organizations the opportunity to reduce costs, increase flexibility, improve information technology (IT) capabilities, and prevent data loss risks and digital contingency, which is impelling the market growth. Furthermore, the widespread adoption of work-from-home (WFH) and bring-your-own-device (BYOD) workplace policies by organizations, especially during the COVID-19 pandemic, is propelling the market forward. Apart from this, strategic collaborations amongst key players to enhance product security features and overall performance is supporting the market growth.

Year considered to estimate the market size:

• Base year of the analysis: 2021

• Historical period: 2016-2021

• Forecast period: 2022-2027

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Competitive Landscape with Key Players:

The competitive landscape of the global personal cloud market has been studied in the report with the detailed profiles of the key players operating in the market.

Personal Cloud Market key players include:

• Barracuda Networks Inc
• Box Inc.
• Buffalo Americas Inc
• Dropbox Inc.
• Egnyte Inc.
• Google LLC (Alphabet Inc.)
• Microsoft Corporation
• SpiderOak Inc

Personal Cloud Market Application:

A personal cloud is an intangible collation of multiple digital services and data that users can access and store through various interconnected devices. It allows storing, synchronizing, streaming, and sharing digital content, including photos, videos, music, and documents, over multiple platforms. These files are managed by cloud service providers, which offer centralized control. Personal cloud services offer unlimited cloud-based storage, disaster recovery services, multi-device connectivity, and enhanced security features at an affordable price; thus, it is extensively used by enterprises and independent users.

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Market Segmentation for Personal Cloud Industry:

The report has segmented the global personal cloud market on the basis of revenue type, hosting type, end user and region.

Market By Revenue Type:

• Direct
• Indirect

Market By Hosting Type:

• Service Providers
• Consumers

Market By End User:

• Individuals
• Enterprises

Geographical Analysis:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Explore Full Report Description At: https://www.imarcgroup.com/personal-cloud-market

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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