Consumer Cloud Subscription Market to See Booming Growth | Size, Share, Trends, and Forecast by 2023-2028

IMARC Group's latest report, titled "Consumer Cloud Subscription Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global consumer cloud subscription market is expected to exhibit a CAGR of 7.1% during 2023-2028.

Consumer cloud subscription refers to the consumer's right to access and use cloud services on a subscription basis. Cloud services offer complete access to documents, photos, music, and videos. The user can get all of it wherever they want and on any compatible device, as long as the user has an internet connection. It uses cloud storage for personal and consumer-oriented purposes, such as storing files, images, or music on a remote server. There are different types of cloud storage services. However, the most common is personal private cloud storage service, where users pay for their own space to store data in the cloud. Cloud subscription finds extensive applications across sectors, including IT and telecom, healthcare, manufacturing, BFSI, retail, media, and entertainment.

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• Amazon.com Inc
• Apple Inc
• Box Inc
• Carbonite Inc. (OpenText Corporation)
• Dropbox
• Google LLC (Alphabet Inc.)
• Mediafire
• Microsoft Corporation
• Nextcloud
• pCloud AG
• SoundCloud
• Sync.com Inc

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Consumer Cloud Subscription Market Growth:

The global market is majorly driven by increasing research and development activities for improvements in the information technology (IT) infrastructure. In line with this, the rising integration of emerging technologies such as Artificial Intelligence and machine learning is significantly contributing to the market growth. These technologies enable cloud growth by empowering companies to capture AI capabilities. Furthermore, the emerging trend of remote or hybrid work mode is positively influencing the market growth across the globe. Apart from this, rapid digitization is compelling companies to modernize their application and infrastructure to drive cost efficiency and business agility. By adopting cloud services, organizations can support their critical business activities effectively, move business workloads to a cloud platform, and avoid network latency. This, in turn, is catalyzing the growth of the market. Moreover, the growing penetration of smartphones and other connected devices, such as IoT Connected Devices for storage purposes, is creating a positive outlook for the market. Besides, an escalating volume of data uploaded on the servers and the presence of next-generation cloud technologies are strengthening the market. Additionally, the widespread deployment of the 5G network and the development of distributed storage arrays are offering numerous opportunities for market expansion.

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Key Market Segmentation:

Breakup by Type:

• Direct
• Indirect

Breakup by Storage Subscription:

• 50 GB-999 GB
• 1 TB - 9.99 TB
• More than 10 TB

Breakup by Platform:

• Android
• IOS
• OS X
• Windows

Breakup by Application:

• Personal Use
• Enterprise Use

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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

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