The global consumer cloud subscription market is expected to exhibit a CAGR of 7.1% during 2023-2028.
Cloud subscription refers to the on-demand delivery of computing services, such as servers, storage, databases, etc., primarily over the internet on a payment basis. It is extensively utilized by organizations for application development and testing, data storage and backup, resource management, orchestration services, etc. As a result, cloud subscription finds widespread adoption across diverse sectors, including IT and telecom, healthcare, manufacturing, BFSI, retail, media and entertainment, etc.
Consumer Cloud Subscription Market Trends:
The escalating popularity of cloud services among organizations owing to numerous associated benefits, including flexibility to “pay-as-you-go,” scalability according to business needs, multiple user access to software, perceived cost savings, etc., is primarily driving the global consumer cloud subscription market. Besides this, the emerging trend of remote and hybrid working modules, especially during the COVID-19 pandemic, has led to an increased requirement for subscription services that enable collaborative teams to access centralized data and analytics. This, in turn, is acting as a significant growth-inducing factor. Furthermore, the elevating usage of cloud storage across several industries, such as BFSI, healthcare, retail, etc., due to the growing need for enhanced security and better customer experience is creating a positive outlook for the market. Apart from this, the introduction of multi-cloud environments and specialized cloud services dedicated to scale client-facing systems, is also propelling the market growth. Additionally, the rising integration of consumer cloud subscriptions with big data, machine learning, and real-time analytics solutions is further bolstering the global market. In the coming years, extensive R&D activities related to significant improvements in the information technology (IT) infrastructure are expected to drive the global consumer cloud subscription market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global consumer cloud subscription market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, storage subscription, platform and application.
Breakup by Type:
Breakup by Storage Subscription:
- 50 GB-999 GB
- 1 TB - 9.99 TB
- More than 10 TB
Breakup by Platform:
Breakup by Application:
- Personal Use
- Enterprise Use
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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 and Sync.com Inc.
|Base Year of the Analysis
||Type, Storage Subscription, Platform, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amazon.com Inc., Apple Inc., Box Inc., Carbonite Inc. (OpenText Corporation), Dropbox, Google LLC (Alphabet Inc.), Mediafire, Microsoft Corporation, Nextcloud, pCloud AG, SoundCloud and Sync.com Inc.
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