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Global Personal Cloud Storage Market – Industry Trends and Forecast to 2030

ICT

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Global Personal Cloud Storage Market – Industry Trends and Forecast to 2030

  • ICT
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Personal Cloud Storage Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 22.87 Billion
Diagram Market Size (Forecast Year) USD 139.22 Billion
Diagram CAGR %

Major Markets Players

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Global Personal Cloud Storage Market, By Component (Solutions, Services), User Type (Consumer, Enterprise), Application (Primary Storage, Backup and Disaster Recovery, Archiving), Vertical (BFSI, IT, Telecommunications, Healthcare and Life Sciences, Media and Entertainment, Consumer Goods and Retail, Manufacturing, Government and Public Sector, Energy and Utilities, Others) – Industry Trends and Forecast to 2030.

Personal Cloud Storage Market

Personal Cloud Storage Market Analysis and Size

Constant growth and development in advanced management solutions by the major manufacturers operating in the personal cloud storage to increase storage of informationoperating in the personal cloud storage to increase information is anticipated to enhance the market growth. Moreover, growing personal data volumes in enterprises and the rising need to offer remote workers with ubiquitous access to files and data will expand market growth. For instance, as per the analysis of Seagate Technologies Holdings Plc, total enterprise data volume is anticipated to go from around 1 petabyte (PB) to 2.02 petabytes from 2020 to 2022. This is a 42.2 percent of average annual growth over two years.

Data Bridge Market Research analyses that the personal cloud storage market is expected to reach USD 139.22 billion by 2030, which is USD 22.87 billion in 2022., at a CAGR of 25.33% during the forecast period. 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 Storage Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Solutions, Services), User Type (Consumer, Enterprise), Application (Primary Storage, Backup and Disaster Recovery, Archiving), Vertical (BFSI, IT, Telecommunications, Healthcare and Life Sciences, Media and Entertainment, Consumer Goods and Retail, Manufacturing, Government and Public Sector, Energy and Utilities, Others)

Countries Covered

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, Israel, Egypt, South Africa, 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

Market Players Covered

Akamai Technologies (U.S.). Microsoft (U.S.), IBM (U.S.), Edgio (U.S.), Google (U.S.), AWS (U.S.), Amazon Web Services, Inc. (U.S.),  Hewlett Packard Enterprise Development LP (U.S.), Oracle (U.S.), RACKSPACE TECHNOLOGY (U.S.), Dell Inc (U.S.), Huawei Technologies Co., Ltd (China), Fujitsu (Japan), Hitachi Vantara LLC (U.S.), ASUS Open Cloud (Taiwan), Citrix Systems, Inc. (U.S.), Alibaba Cloud (China), VMware, Inc (U.S.), Buffalo (Japan), Seagate Technology LLC (U.S.), NetApp (U.S.), Tencent Cloud (China)

Market Opportunities

  • Technological advancements in personal cloud storage market
  • Surging focus towards IoT and cloud services solutions

Market Definition

Personal cloud storage is a type of cloud storage used to store an individual's information or data in the cloud. This personal cloud storage also offering access to the data from anywhere. This storage helps in sharing and syncing stored data across numerous devices such as mobile phones and tablet computers. These are also known as pocket cloud storage or cloud storage.

Global Personal Cloud Storage Market

Drivers

  • Growing data volumes

Personal cloud storage is a platform for the storage of personal data of individuals. The incorporation of machine learning (ML), internet-of-things (IoT), artificial intelligence (AI) and analytics in cloud storage facilities may allow manufacturers to attract more consumers. For instance, NextBillion AI, a California-based start-up, collaborated with Google Cloud in February 2021. This collaboration enhanced time-to-time market solutions by using SQL and storage. With this partnership, the company goals to provide NextBillion artificial intelligence with a 99% uptime AND offer excellent data protection. These factors are expected to drive the market growth globally.

  • Increasing data breaches in the banking sector

The growing data breaches in the banking sector are propelling the banks to adopt cloud storage which allows them to store personal data or information in a space managed and owned by third party or the bank. This is providing improved security to the end-user. This is anticipated to increase personal cloud storage adoption during the forecast period.

Opportunities

  • Growing investments among enterprises

Growing investments among enterprises to upgrading their infrastructure and meet the growing demand of consumers promotes market growth during the forecast period. For instance, Microsoft has announced plans to spend approximately US$ 1 billion in a digital transformation plan in May 2020 in Poland to accelerate and drive its digital transformation. This announcement will boost the competitiveness and support employment opportunities in the global market. This growing investment among enterprises will create immense market growth opportunities during the forecast period.

Restraints

  • Issues associated with personal cloud storage market

Network outage and latency issues related to personal cloud environments, lifetime storage and egress prices are some of the major factors expected to obstruct the market growth. Data security and privacy concerns are also some other factors which are projected to challenge the growth of the personal cloud storage market in the forecast period of 2022-2029.

This personal cloud storage 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 storage market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Personal Cloud Storage Market Scope

The personal cloud storage market is segmented on the basis of component, user type, application and vertical. The growth amongst these segments will help you analyze 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.

Component

  • Solutions
  • Services

User Type

  • Consumer
  • Enterprise

 Application

  • Primary Storage
  • Backup and Disaster Recovery
  • Archiving

Vertical

  • BFSI
  • IT
  • Telecommunications
  • Healthcare and Life Sciences
  • Media and Entertainment
  • Consumer Goods and Retail
  • Manufacturing, Government and Public Sector
  • Energy and Utilities
  • Others

Personal Cloud Storage Market Regional Analysis/Insights

The personal cloud storage market is analyzed and market size insights and trends are provided by country, component, user type, application and vertical as referenced above.

The countries covered in the personal cloud storage 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, Israel, Egypt, South Africa, 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 dominates the personal cloud storage market in terms of revenue and market share owing to the strong presence of well end-user industries and established suppliers. Furthermore, high adoption of cloud storage solutions will further boost market growth in this region. 

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 owing to the availability of numerous small as well as large cloud storage solution providers in this region.

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 Storage Market Share Analysis

The personal cloud storage 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 storage market.

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

  • Akamai Technologies (U.S.)
  • Microsoft (U.S.)
  • IBM (U.S.)
  • Edgio (U.S.)
  • Google (U.S.)
  • AWS (U.S.)
  • Amazon Web Services, Inc. (U.S.)
  • Hewlett Packard Enterprise Development LP (U.S.)
  • Oracle (U.S.)
  • RACKSPACE TECHNOLOGY (U.S.)
  • Dell Inc (U.S.)
  • Huawei Technologies Co., Ltd (China)
  • Fujitsu (Japan)
  • Hitachi Vantara LLC (U.S.)
  • ASUS Open Cloud (Taiwan)
  • Citrix Systems, Inc. (U.S.)
  • Alibaba Cloud (China)
  • VMware, Inc (U.S.)
  • Buffalo (Japan)
  • Seagate Technology LLC (U.S.)
  • NetApp (U.S.)
  • Tencent Cloud (China)

 


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The current market value is USD 22.87 billion in 2022.
The market is expected to grow at a rate of market is 25.33% during the forecast period of 2023 to 2030.
The segments covered in the Personal Cloud Storage Market report are component, user type, application, and vertical.
Due to the presence of multiple small and major cloud storage solution providers in this area, Asia-Pacific will continue to predict the fastest compound annual growth rate over the projection period of 2023-2030.
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