Businessinsider: Personal Cloud Storage Market Growth

Showing posts with label Personal Cloud Storage Market Growth. Show all posts

Friday, May 13, 2022

Personal Cloud Storage Market Growth Prospects, Solutions, Developments Status and Business Opportunities

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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Wednesday, February 23, 2022

Personal Cloud Storage Market Strategic Assessment, Research, Size, Share and Global Expansion by 2027 | COVID-19 Effects

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.