Personal Cloud Market

Global Personal Cloud Market Size (2024 to 2029)

The size of the global personal cloud market is estimated to be worth USD 117.12 bn in 2024 and USD 1129.7 billion by 2029, growing at a CAGR of 57.35% from 2024 to 2029.

A personal cloud is a collation of digital services and data that may be accessed from any location if the users have permission to do so. Personal cloud allows users to save, update and synchronize content that allows users to efficiently share data across several platforms. Online clouds, server device clouds, NAS device clouds and homemade clouds are the four forms of personal clouds. Personal Clouds provide various advantages, including the ability to store more data, a low cost and access from several devices.

Global Personal Cloud Market Drivers:

Personal cloud storage systems are likely to see increased demand due to rising demand for high-frequency data access and sharing, cost-effective and efficient storage and data loss protection. The growing number of partnerships with leading personal cloud service providers, as well as overcoming the connectivity and accessibility gap, will contribute to the personal cloud market's growth by creating enormous prospects. A personal cloud is a cloud storage platform that allows clients to access, synchronize, and share data across several cloud and device platforms. Personal cloud services offer improved data storage, accessibility, and sharing, as well as improved security measures. By providing a better experience for users and ease of use, they have set new expectations for individuals using cloud computing services.

The growth of the personal cloud market is further likely to be driven by growing awareness about personal cloud and the requirement for disaster recovery and contingency planning. In addition, features like real-time data access, disaster recovery and the growing trend of bringing your device to adoption are expected to boost the global market growth during the forecast period. Moreover, the market is expected to be driven by the proliferation of digital content and an increase in internet usage throughout the forecast period. Also, the rise in the number of social media platforms, rapid adoption of personal cloud solutions, a fast-growing tech-savvy population, and increased use of personal cloud services for storing images, videos, and contacts are significant factors propelling the personal cloud market growth.

The personal cloud market is expected to benefit from the growing investments in technological advancements by the key market participants. Over the forecast period, the global market is expected to be favored by the rising demand for storing and sharing personal and professional data. There is a growing demand for storing and exchanging personal and professional data in this digital age. In recent years, the rapidly growing tech-savvy population has resulted in a significant increase in the demand for cloud computing services. The growing popularity of camera-equipped devices like smartphones and tablets has created a great demand for a safe platform to store digital information.

Global Personal Cloud Market Restraints:

The use of a personal cloud involves multiple third parties outsourcing their skills, which can raise concerns about security and confidentiality. Mobility, endpoints, networks, databases, cloud, web applications, and virtualization infrastructures are all included. Any personal cloud provider will be able to easily expose important company information because of this. Security and privacy issues remain the top barriers to the adoption of personal cloud for businesses, which are further hindering the global market growth. Personal cloud providers, on the other hand, assist enterprises in ensuring that the data they deploy via the cloud is secure and private. Customers have access to end-to-end network protection and encryption for added security. However, because of the increasing number of data breaches, businesses are hesitant to share critical corporate data with personal cloud providers.

REPORT COVERAGE:

This research report on the global cloud storage gateways market has been segmented and sub-segmented based on the type, user, revenue, and region.

Global Personal Cloud Market - By Type of User:

• Consumer
• Enterprise

Based on user type, the enterprise segment is projected to dominate the personal cloud market during the forecast period. The issues can be traced back to the widespread use of the personal cloud to boost overall productivity. Enterprises looking to extend their market with modern solutions are predicted to install the product, increasing demand over the next seven years.

Global Personal Cloud Market - By Type of Revenue:

• Direct Revenue
• Indirect Revenue

During the forecast period, the indirect revenue segment is expected to have the highest CAGR. Licensing, advertising, commercial partnerships with large technology providers or device manufacturers, and white-label cloud products are all examples of indirect revenue.

Global Personal Cloud Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America will lead the market in terms of personal cloud and service adoption and implementation. The U.S. market accounted for the greatest share of the North American personal cloud market, owing to the development of multi-cultural organizations that are required to work on similar platforms without sacrificing the quality of work across different geographical regions. The US market accounted for the greatest share of the North American personal cloud market, owing to the development of multi-cultural organizations that are required to work on similar platforms without sacrificing the quality of work across different geographical regions. The rapid usage of SaaS, IoT, and analytics is driving personal cloud adoption in North America.

The European region is predicted to hold the second-largest market share in the Personal Cloud Market during the forecasted period.

The personal cloud market in the Asia Pacific is expected to grow significantly. Personal cloud services in the Asia Pacific area, unlike other international players, allow users to exchange information, causing worries among regulators. To clean up the sector, national authorities in many countries have launched a campaign to remove unlawful content from the internet, which has resulted in the demise of six key services. Furthermore, the lack of a clear business strategy encourages firms to prosper, putting a barrier between them and profitability. India, Japan, China, and South Korea are some of the important countries that will fuel the Asia Pacific Personal Cloud market expansion.

KEY MARKET PLAYERS:

The global personal cloud market key players are BoxAWS, Dropbox, Apple, Microsoft, Egnyte, Synchronoss, Western Digital, Seagate. Apple Inc., Microsoft Corporation, Google Inc., Amazon Web Services Inc., Dropbox Inc., Egnyte Inc., Copy (Barracuda Networks Inc.), SpiderOak, Box Inc., and Buffalo Inc. are among the prominent participants in the personal cloud market. These market leaders have built themselves through time by investing continuously in product innovation, allowing them to increase quality, capability, and performance. Furthermore, as an opportunistic factor in the personal cloud market forecast, these companies have expanded their market presence through strategic alliances and are constantly working toward launching upgraded products in the market to gain maximum market share as well as deliver better benefits to stakeholders.

RECENT DEVELOPMENTS IN THE MARKET:

• Synchronoss Personal Cloud Makes It Possible PicStorage by Kitamura is a service that allows you to store your photos online.
• Kitamura, Japan's leading multimedia retailer, has launched a white-label version of the Synchronoss Personal Cloud under the name PicStorage. Synchronoss Technologies, Inc. ("Synchronoss" or the "Company") (Nasdaq: SNCR), a global leader and innovator in cloud, messaging, and digital products and platforms, announced today that it had launched a white-label version of the Synchronoss Personal Cloud under the name Pic.