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Personal Cloud Market Global Size, Company Profiles, Segments, Landscape, Demand and Trends | Impact of COVID-19

02.25.2021 · Posted in Writing and Speaking

The personal cloud market has been constant revenue growth, mainly due to the proliferation of smart and connected devices and the rising demand for cloud-based services. Besides, the market growth attributes to the increased need for additional storage in consumer electronic devices for disaster recovery planning. The emergence of industry-leading cloud capabilities positively impacts the growth of the market. Moreover, the rising demand for increased user experiences escalates market growth.

According to a leading research firm – Market Research Future (MRFR), the global personal cloud market is estimated to create a valuation of approximately USD 125.92 BN by 2023, growing at a massive CAGR of 44.3% throughout the anticipated period (2017 – 2023). The demand to eliminate the need for additional hardware storage on the devices and improved customer experiences boosts the size of the market.

Furthermore, increased demand for pre-installed storage service to customers influences market growth. Additionally, the rising adoption of cloud-based technology and advances in personal devices boost the growth of the market. Simultaneously, the increasing availability of broadband connectivity drives the personal cloud market growth.

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Moreover, substantial R&D investments by the majority of cloud computing organizations foster the growth of the regional market. Technological advances, along with the proliferation of the internet, tablets, and other smart connected devices, boost the regional market growth. The North American personal cloud market is projected to retain its dominance over the global market.

Europe stands second in the global personal cloud market. The market growth is driven by the well-established cloud infrastructure and major telecom companies in the region. Additionally, the increasing adoption of on-demand cloud services in Germany, the UK, France, and Italy supports regional market growth. The European personal cloud market is expected to show immense growth over the forecast period.

The Asia Pacific personal cloud market is emerging as a promising market in terms of size. Factors such as the presence of the majority of key mobile phone manufacturers in China and the rising numbers of mobile phone users in the region influence the personal cloud market share. Furthermore, government policies and regulations impact the adoption of digital services and cloud-based services in the region.

APAC countries, such as China, Japan, and India, offer substantial growth opportunities for the market players, demanding high internet connectivity speed. Moreover, the rising disposable income of demographics propels the market growth in the region. Besides, the rapid industrialization and growing numbers of businesses provide impetus to market growth.

About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

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