Global Consumer Cloud Subscription Market to Grow at 6.39% During 2024-2032, Impelled by Increasing Adoption of Cloud Computing

June 05, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Consumer Cloud Subscription Market Report by Type (Direct, Indirect), Storage Subscription (50 GB-999 GB, 1 TB - 9.99 TB, More Than 10 TB), Platform (Android, IOS, OS X, Windows), Application (Personal Use, Enterprise Use), and Region 2024-2032,” the global consumer cloud subscription market is expected to grow at a CAGR of 6.39% during 2024-2032. Consumer cloud subscription is a service model where individuals or consumers pay a recurring fee to access and utilize cloud-based services and resources. It allows individuals to store, manage, and access their data, files, and applications remotely using cloud computing infrastructure. Consumer cloud subscriptions offer users convenience, scalability, and flexibility, allowing them to access their data and services from various devices and locations. It also eliminates the need for physical storage devices, such as external hard drives or USBs, which protect the data from loss or damage due to hardware failures or disasters. In addition to this, cloud subscription allows seamless collaboration and file sharing among individuals, facilitating efficient communication and teamwork. As a result, it is widely adopted across information technology (IT) and telecom, healthcare, manufacturing, banking, financial services and insurance (BFSI), retail, media, and entertainment industries.

Global Consumer Cloud Subscription Market Trends:

The widespread product adoption across numerous organizations due to their multiple benefits, such as the flexibility to pay-as-you-go, scalability based on business needs, and the ability for multiple users to access software, is primarily driving the market growth. Concurrent with this, the perceived cost savings associated with cloud services are further fueling product adoption and contributing to the market growth. Moreover, the emerging trends of remote and hybrid working models and bring-your-own-device (BYOD) have impelled the need for consumer cloud subscriptions to enable access to centralized data and analytics, facilitating seamless communication and workflow, regardless of physical location. In addition to this, the introduction of multi-cloud environments and specialized cloud services designed to scale client-facing systems, optimize cloud infrastructure based on specific requirements, and leverage the benefits of different cloud platforms is strengthening the market growth. Furthermore, the integration of advanced technologies, such as big data, machine learning (ML), and real-time analytics solutions, with consumer cloud subscriptions, allowing organizations to derive actionable insights from their data and make informed business decisions, is aiding in market expansion. Besides this, ongoing research and development (R&D) activities focused on improving IT infrastructure, easy access to high-speed internet, and the proliferation of portable smart devices like smartphones, tablets, and wearable devices are positively impacting the market growth.

Market Summary:

On the basis of the type, the market has been bifurcated into direct and indirect.
Based on the storage subscription, the market is divided into 50 GB-999 GB, 1 TB - 9.99 TB, and more than 10 TB.
On the basis of the platform, the market has been segregated into Android, IOS, OS X, and Windows.
Based on the application, the market is categorized into personal and enterprise use.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Currently, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Type, Storage Subscription, Platform, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Consumer Cloud Subscription Market to Grow at 6.39% During 2024-2032, Impelled by Increasing Adoption of Cloud Computing

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