Global Personal Cloud Market – Industry Trends and Forecast to 2029

Personal Cloud Market Analysis and Size

The personal cloud market is a subset of the private cloud-based infrastructure as a service market (IaaS). Large organizations typically use it with a high volume of incoming data regularly, as well as those with a critical need for data security. Banks, IT and telecom companies, and healthcare organizations are among the primary users of private cloud storage. With the increasing global adoption of cloud services, user organizations will require extensive maintenance and upgrading services in the coming years, driving the segment's growth.

Data Bridge Market Research analyses that the personal cloud market was valued at USD 37.36 billion in 2021 and is expected to reach the value of USD 235.84 billion by 2029, at a CAGR of 25.90% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Personal Cloud Market Scope and Segmentation

Market Definition

A personal cloud, also known as a mobile cloud, is a local network-attached storage (NAS) cloud facility that is used to store and share personal or professional data such as videos, photos, and documents. Individuals, small businesses, and organizations commonly use it to collect digitally stored services and information that can be accessed remotely. It synchronizes or shares sensitive data between devices such as tablets, PCs, and smartphones. It includes cloud storage facilities for online and server devices. They eliminate the need to store information on a hardware device and provide increased storage space, cost-effectiveness, and consumer accessibility.

Global Personal Cloud Market Dynamics

Drivers

• Rapid digitization and growth in global IT industry

Significant growth in the global information technology (IT) industry and rapid digitization are among the key factors driving market growth. Furthermore, the growing adoption of cloud-based data recovery systems is propelling market growth. With the proliferation of social media platforms, there is an increasing demand for personal storage systems that can store data that can be accessed from multiple devices. In line with this, the rise of bring-your-own-device (BYOD) and work-from-home (WFH) trends is also fuelling market growth. Organizations use personal cloud storage systems to promote file storage and sharing among employees and businesses.

• Wide adoption of cloud based services

Other growth-inducing factors include technological advancements and the widespread adoption of Cloud as a Service (CaaS) business models. These advancements provide individuals and organisations with increased flexibility, productivity, and lower infrastructure costs. Other factors, such as extensive research and development (R&D) activities and rising internet penetration, particularly in developing economies, are expected to propel the market forward.

Opportunity

• Growing partnerships within market players

The growing awareness of SMEs and the benefits of adopting personal cloud for smooth business operations will help this market generate significant revenues in the future. On the other hand, the increasing number of partnerships with device manufacturers, as well as bridging the connectivity and accessibility gap, will further contribute by generating immense opportunities that will lead to the growth of the personal cloud market during the forecast period.

Restraints

• Security concerns

Lack of high-level security and security concerns about these software solutions, as well as high initial costs and a lack of technology awareness in developing economies, are acting as market restraints for the personal cloud market during the forecasted period. Lack of interoperability will be the most significant challenge to market growth.

This personal cloud market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the personal cloud market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In June 2021 Wisekey International Holding SA, a leading cybersecurity and IoT company, will launch WISeID Cloud Storage as a new addition to the WISeID platform for digital identity and cybersecurity services. WISeID Cloud Storage allow users to keep their protected file stored in the cloud, on servers secured by Swiss technologies from WISeKey.
• In September 2021 Microsoft and global travel technology company OYO announced a multi-year strategic alliance to co-develop next-generation travel and hospitality products and technologies. OYO will use Microsoft Azure as a key enabler in order to drive cloud-based innovations and reimagine the hospitality and travel tech industries.

Global Personal Cloud Market Scope

The personal cloud market is segmented on the basis of cloud type, user type, revenue type, and hosting type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Cloud Type  

• Online Cloud
• NAS Cloud
• Server Cloud
• Home-Made Cloud

Revenue Type

• Direct revenue
• Indirect revenue

User type

• Individual
• Small Business
• Medium Business

Hosting type

• Providers’ Hosting
• Users’ Hosting

Personal Cloud Market Regional Analysis/Insights

The personal cloud market is analysed and market size insights and trends are provided by country, cloud type, user type, revenue type, and hosting type as referenced above.

The countries covered in the personal cloud market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America emerged as the dominant global personal cloud market because of the growth of multi-cultural organizations that needed to operate in similar platforms without compromising the quality of work in various regions. This region was dominated by the United States. Other factors, such as the presence of key players and the growing adoption of IoT, analytics, and SaaS, will help this region maintain its market dominance in the future.

Asia-Pacific will continue to experience significant gains and will have the highest CAGR. This is due to the large presence of key personal cloud suppliers and the high adoption of personal cloud services in this region. Furthermore, the increasing implementation of cloud services across multiple verticals, as well as technological advancements in the personal cloud, are driving growth in this region's market.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Personal Cloud Market Share Analysis

The personal cloud market competitive landscape provides details by competitor. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to personal cloud market.

Some of the major players operating in the personal cloud market are:

• Amazon Web Services, Inc. (U.S.)
• Microsoft (U.S.)
• Oracle (U.S.)
• Google L.L.C. (U.S.)
• Palo Alto Networks. (U.S.)
• SAP SE (Germany)
• IBM Corporation (U.S.)
• Zscaler, Inc. (U.S.)
• Cisco Systems, Inc. (U.S.)
• Cloud flare Inc., (U.S.)
• Workday, Inc. (U.S.)
• PTC (U.S.)
• Fujitsu (Japan)
• Microsoft (U.S.)
• Siemens (Germany)
• AWS (U.S.)
• Check Point Software Technologies Ltd. (U.S.)
• Sophos Ltd. (U.K.)
• Foreseeti (Sweden)
• Broadcom. (U.S.)
• Trend Micro Incorporated. (Japan)
• Cloudflare,Inc (U.S.)
• Qualys,Inc. (U.S.)

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