Overview
The Global Personal Cloud Storage Market is
expected to register a CAGR of
35.6% during the review period, 2019–2025.
Personal
cloud storage (PCS) is local network-attached storage (NAS) device that lets
users store data, photos, music, videos, and other files; it is also optimized
for media streaming. The personal cloud storage devices are a way for home
users to experience the advantages of high-capacity, cloud-based storage
without losing control of their data. Users can access content on their PC
devices from multiple computers using a web browser, while mobile apps provide
access from iOS and Android mobile devices. Files can be shared without using a
public cloud service.
The
Global Personal Cloud Storage (PCS) Market is dominated by a few major players,
however, new players are expected to enter the market due to new revenue
opportunities in regions such as Asia-Pacific, the Middle East and Africa, and
South America. The entry of new players is expected to increase the competition
in the market.
The Personal Cloud Storage Market is
driven by the increase in demand for cost-efficient storage, data sharing, ease
in data access, use of portable devices, and safety against data loss. Cloud
market services provide improved accessibility, sharing users’ data, and
increased security features and storage facilities, leading to improved user
experience and ease of access. The market has also benefited from the upsurge
of broadband connections and smartphones. It is expected that these services
shall be in demand among business customers and individuals owing to the need
for data storage platforms, leading to the enhanced adoption of cloud solutions
and services. However, delivering safe data storage is one of the challenges
faced by cloud service providers whereas, lack of consumer awareness, security
concerns, and low funding are expected to hinder the growth over the upcoming years.
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Competitive Analysis
Some of the Key
Players in the market are Amazon, Apple, Google, Seagate, Box,
Microsoft, Dropbox, Engyte, Buffalo Technology, Sygarsync., Lima Technology,
Gemalto, MEGA Ltd., D-Link Corporation, ElephantDrive, Mozy Inc., POLKAST LLC,
and Dell among others.
Segmental Analysis
The
Global Personal Cloud Storage Market has been segmented based on revenue Type,
User Type, Hosting Type, and Region.
By
Revenue Type, the market has been segmented into direct revenue and indirect
revenue.
By
User Type, the market has been divided into individual, small business and
medium business. The individual user segment is expected to dominate the market
over the forecast period.
By hosting type, the market has been divided into providers
hosting and users hosting. The
demand for user-hosted cloud storage is expected to be high due to the easy
availability and cost-effectiveness of cloud solutions from service providers.
However, the provider-hosted segment is expected to dominate the industry over
the forecast period.
The regions included in the study are North America, Europe,
Asia-Pacific, the Middle East and Africa, and South America. North America dominates the personal cloud storage market owing
to the advent of new technologies and increased awareness among the consumers in
the region. Asia-Pacific is
estimated to grow rapidly with the highest CAGR and is expected to contribute
immensely to the market revenue.
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Personal Cloud Storage Market Research Report:
Information by Technology (Hall Effect, Magneto Resistive, Variable
Reluctance), By Application (Automotive, Industrial, Aerospace & Defense,
Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle
East & Africa, and South America)—Forecast till 2030
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