According to the report, the global Personal Cloud Market was valued around USD 20.79 billion in 2016 and is expected to reach USD 115.05 billion by 2022, at a CAGR of 33.02% for the forecast period from 2017 to 2022.
The global personal cloud market is a storage platform that enables the customers to access, synchronize and share stored data across various mobile devices such as smartphone and tablets. In this period of digitalization, there is a rising need for storing and sharing personal data or professional data. The rapidly increasing tech-savvy population has considerably led to the growing demand for cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphones and tablets, has created a huge demand for a secure platform to store digital content. Personal cloud market would facilitate file storage and share among the employees and enterprises who have adopted the BYOD trend.
Personal cloud services offer better storage, ease of access and sharing of user data along with superior security features. They have set up new standards for individuals to utilize the cloud computing services by offering better user experience and ease of use. Growing BYOD and mobile workforce trends are one of the major drivers which is driving the growth of the personal cloud market.
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The usage of multiple devices would drive the rapid adoption of personal cloud solutions among individuals. In future, these services are expected to witness widespread demand among individual and business customers owing to the growing need for data storage platforms, leading to the increased adoption of personal cloud services.
The global personal cloud market is segmented into deployment type, hosting type and regions. The deployment of personal cloud market is segmented into individuals, small businesses and medium businesses. The hosting type is segmented into user hosting and provider hosting. Last but not the least; the market is analyzed based on five regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
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The major participants in the personal cloud market which includes Amazon, Apple, Google, Seagate, Box, Microsoft, Dropbox, Engyte, Buffalo Technology, and Sygarsync.
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