Market Analysis
Market Research Future (MRFR) projects the global personal cloud storage market to register a CAGR of 35.6% from 2020–2027 (review period).
Multiple Factors to Augment Market Growth
Personal cloud storage is a type of cloud storage that allows home users to store and protect their personal data. Although personal cloud storage is primarily intended for the sharing of images, videos, and documents, the personal cloud frequently includes streaming possibilities for various multimedia files. The global personal cloud storage industry is expected to rise gradually as a result of the introduction of new technologies and advances in the IT sector. The cloud concept centers around offering cloud storage for residential users to keep data, as cloud storage is designed for storing and sharing data such as images, documents, and videos.
Over the next few years, the market will be driven by the need for efficient storage, increased frequency of data access, data sharing, use of portable devices such as tablets and multimedia phones, cost-effective storage, and data loss protection.
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Market Segmentation
The worldwide Personal Cloud Storage Market Growth has been segmented based on revenue type, user type, and hosting type.
By revenue type, the global personal cloud storage market has been segmented into direct revenue and indirect revenue.
By user type, the global personal cloud storage market has been divided into individual, small business, and medium business.
By hosting type, the global personal cloud storage market has been divided into providers hosting and user hosting.
Regional Analysis
North America to Dominate the Global Market
North America dominates the worldwide personal cloud storage market as a result of the introduction of new technologies and greater public awareness in the region. Europe, like North America, is likely to have strong growth potential during the forecast period.
Asia Pacific is set to develop at the fastest rate, with the greatest CAGR, and to contribute significantly to market revenue. The industry in the Middle East and Africa is also likely to expand, with growth being primarily influenced by the demand for service agility and data security concerns. Similarly, the South American market is predicted to expand steadily over the projection period.
Key Players
Amazon, Apple, Sygarsync., Google, Seagate, Box, Microsoft, Dropbox, Engyte, ElephantDrive, Buffalo Technology, Lima Technology, Gemalto, MEGA Ltd., D-Link Corporation, Mozy Inc., POLKAST LLC, and Dell.
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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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