Personal Cloud Market Size to Reach USD 161.93 Billion by 2027 | CAGR of 24.6% - Valuates Reports
BANGALORE, India, Nov. 5, 2020 /PRNewswire/ -- A new Personal Cloud Market Research Report published on Valuates Reports in Web Services Category. The report contains segmentation by Revenue Type ( Direct and Indirect), Hosting Type (Service Providers and Consumers), and End users (Individuals and Enterprises). It also covers Global Opportunity Analysis and Industry Forecast to 2027.
The personal cloud market size was valued at USD 26.80 Billion in 2019 and is projected to reach USD 161.39 Billion by 2027, growing at a CAGR of 24.6% from 2020 to 2027 during the forecast period.
A personal cloud is a cloud storage network that allows cloud and system users to view, synchronize, and share stored data. Personal cloud services, along with improved security features, provide better consumer data storage, usability and sharing.
North America is expected to hold the largest personal cloud market share during the forecast period. In the US and Canada, there is a high emphasis on research and development ( R&D). Also, major private cloud providers in the area are expected to increase the growth of the personal cloud market size.
Major factors driving the growth of personal cloud market size are, increase in the number of social media sites, an upsurge in broadband connections, rapidly increasing tech-savvy population, and increasing use of camera-equipped devices, such as smartphones and tablets.
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TRENDS INFLUENCING THE PERSONAL CLOUD MARKET SIZE
The increasing trend of bringing your own device is expected to fuel the personal cloud market size growth. Due to the benefits of increased efficiency, work flexibility and reduced infrastructure costs, Bring-Your-Own-Device (BYOD) are gaining increasing adoption, especially among small and medium enterprises. It is anticipated that personal cloud services will promote file storage and sharing among employees and businesses that have embraced the BYOD trend.
It is expected that, due to the increase in the usage of hybrid cloud in large organizations, the adoption of personal cloud services would experience positive growth.
The cost-effectiveness and easy usability of cloud solutions from service providers are driving the growth of the personal cloud market size. In different bundles with competitive price caps, numerous players offer personal cloud solutions. The leading mode of revenue collection is expected to be direct revenue collected through monthly and annual charges, which is why the market is expected to expand at a significant pace.
Due to the COVID-19 outbreaks, the organization is drastically changing its working structure to ensure employees' safety and convenience. The convergence of cloud with mobile devices has altered the working atmosphere and has allowed companies to use the private cloud extensively to improve their overall efficiency. The authorization to use one's own mobile device to access work content from anywhere and at any time has further driven the growth of the personal cloud market size.
Other key factors that propel the growth of personal cloud market size are, increasing awareness about personal clouds, fast and real-time access to data, and disaster recovery features.
PERSONAL CLOUD MARKET SHARE ANALYSIS
Due to the increasing need for advanced intelligent solutions and the availability of fast broadband networks with enhanced multimedia devices, the APAC region is expected to be the fastest-growing region in the personal cloud market.
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KEY BENEFITS FOR STAKEHOLDERS:
PERSONAL CLOUD MARKET SEGMENTS
By Revenue Type
By Hosting Type
By End user
Key Market Players
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SIMILAR REPORTS :
The cloud storage market size was valued at USD 46.12 Billion in 2019 and is projected to reach USD 222.25 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
Major factors driving the growth of cloud storage market size are the significant change to hybrid cloud as the primary deployment model, increased demand for low-cost data storage, faster accessibility of data, increased cloud adoption across several industry verticals, security concerns over cloud storage, and increasing adoption among small and medium enterprises.
Top companies in the cloud storage market include Amazon Web Services, Inc., Dell Technologies Inc., Google, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Alibaba Cloud, and VMware, Inc.
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The mobile cloud market size was valued at USD 12.07 Billion in 2016 and is expected to reach USD 74.25 Billion by 2023, at a CAGR of 30.1% from 2017 to 2023.
During the forecast era, the Asia-Pacific mobile cloud market is poised to expand at a significant pace. The global market was dominated by the private mobile cloud segment in 2016 and is expected to retain its dominance in the near future.
In addition, the global mobile cloud market has been dominated by other vertical industries such as entertainment, utilities, education, healthcare, government, automotive, and business, as these are the key mobile cloud end users.
The report focuses on the mobile cloud market growth prospects and restraints based on an analysis of the regional trends. The study provides Porter's five forces analysis of the industry to understand the impact of various factors such as the bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, the threat of substitutes, and the bargaining power of buyers on the growth of the market.
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The Global Cloud Billing Market is expected to grow from USD 6,659.46 Million in 2019 to USD 12,865.08 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 11.59%.
Major factors driving the growth of cloud billing market size are the growing demand for billing operations, centralized and convergent billing solutions and the increasing need to lower capital and operating expenditure.
The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership.
The key regions covered in the report are North America, Europe, China, the Rest of Asia Pacific, Central & South America, Middle East & Africa, etc. It includes revenue analysis of each region for the year 2015 to 2026.
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The Global Content Delivery Network Market Size is expected to grow from USD 12,130.98 Million in 2019 to USD 26,742.06 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 14.08% during the forecast period.
Major factors driving the growth of CDN market size are growing demand for enhanced Quality of Experience (QoE) and Quality of Service ( QoS), the proliferation of video and rich media over websites, and increasing demand for enhanced video content and latency-free online gaming experience.
Furthermore, the significant investments in network technology growth and the sharp decline in data prices also support the growth of CDN market size. Adoption rates have also been improved by the emerging e-commerce market and the associated CDN requirements.
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The growing digitization has led to an increase in cloud-based deployment in the healthcare sector. Furthermore, the BFSI and telecom sectors are investing in cloud based solutions owing to its security and cost-efficiency. This increasing adoption by various industries is, in turn, fuelling the growth of the virtual private cloud market size.
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