The global personal cloud market size reached US$ 28.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 119.7 Billion by 2032, exhibiting a growth rate (CAGR) of 16.7% during 2024-2032.
Market Size in 2023
US$ 28.6 Billion
Market Forecast in 2032
US$ 119.7 Billion
Market Growth Rate 2024-2032
Personal cloud, or mobile cloud, refers to a local network-attached storage (NAS) cloud facility used for storing and sharing personal or professional data, such as videos, photos and documents. It is an assembly of digitally stored services and information that can be accessed remotely and is commonly used by individuals, small businesses and organizations. It is used to synchronize or share sensitive data with various devices, such as tablets, personal computers and smartphones. It involves online and server device cloud storage facilities. They eliminate the need to store information on a hardware device and offer enhanced storage space, cost-effectiveness and accessibility to the consumer.
Personal Cloud Market Trends:
Significant growth in the information technology (IT) industry across the globe, along with rapid digitization, is among the key factors driving the market growth. Moreover, the increasing adoption of cloud-based data recovery systems is providing a thrust to the market growth. With the proliferating social media platforms, there is a growing requirement for personal storage systems for storing data that can be accessed through multiple devices. In line with this, the emergence of bring-your-own-devices (BYOD) and work from home (WFH) trends are also contributing to the growth of the market. Organizations use personal cloud storage systems to promote file storage and sharing among employees and businesses. Additionally, various technological advancements and the widespread adoption of Cloud as a Service (CaaS) business models are acting as other growth-inducing factors. These innovations offer individuals and organizations with enhanced flexibility, productivity and reduced infrastructural costs. Other factors, including extensive research and development (R&D) activities, along with increasing internet penetration, especially in the developing economies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global personal cloud market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on revenue type, hosting type and end user.
Breakup by Revenue Type:
Breakup by Hosting Type:
Breakup by End User:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc), Apple Inc., Barracuda Networks Inc, Box Inc., Buffalo Americas Inc, Dropbox Inc., Egnyte Inc., Google LLC (Alphabet Inc), Microsoft Corporation and SpiderOak Inc.
Base Year of the Analysis
Revenue Type, Hosting Type, End User, 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 Web Services Inc. (Amazon.com Inc), Apple Inc., Barracuda Networks Inc, Box Inc., Buffalo Americas Inc, Dropbox Inc., Egnyte Inc., Google LLC (Alphabet Inc), Microsoft Corporation and SpiderOak Inc.
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Key Questions Answered in This Report
The global personal cloud market was valued at US$ 28.6 Billion in 2023.
We expect the global personal cloud market to exhibit a CAGR of 16.7% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic has led to the escalating deployment for personal cloud technologies to store and share professional data among employees and businesses, during the Bring-Your-Own-Devices (BYOD) and remote working models.
The rising adoption of personal cloud technologies to eliminate the need to store information on hardware devices, coupled with their numerous benefits, such as enhanced storage space, cost-effectiveness, and accessibility to the consumer, is primarily driving the global personal cloud market.
Based on the revenue type, the global personal cloud market can be categorized into direct and indirect. Currently, direct accounts for the majority of the total market share.
Based on the hosting type, the global personal cloud market has been segregated into service providers and consumers, where consumers currently hold the largest market share.
Based on the end user, the global personal cloud market can be bifurcated into individuals and enterprises. Currently, enterprises exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global personal cloud market include Amazon Web Services Inc. (Amazon.com Inc), Apple Inc., Barracuda Networks Inc, Box Inc., Buffalo Americas Inc, Dropbox Inc., Egnyte Inc., Google LLC (Alphabet Inc), Microsoft Corporation, and SpiderOak Inc.
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