The Personal Cloud Market size is projected to grow from USD 59.62 Billion in 2024 to USD 377.17 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.93% during the forecast period (2024 - 2032). Additionally, the market size for Personal Cloud was valued at USD 45.81 Billion in 2023.
The growing demand for expanded storage capacity in consumer electronic devices and the increased focus on robust disaster recovery planning are significant market drivers driving the market's growth.
Figure1: Personal Cloud Market, 2018 - 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
More and more people are seeking storage solutions for their photos, documents, folders, and files, leading to a rise in the need for data storage. Cloud technology has revolutionized the availability of flexible and cost-effective storage options for businesses of all sizes. The personal cloud has also emerged as a way for organizations to reduce costs, gain flexibility, and enhance their IT capabilities. Data is now utilized for personal and professional purposes, highlighting the importance of securing data.
There is a huge demand for cloud storage, with many providers offering unlimited storage options. The need for real-time data access, data sharing, cost-effective storage solutions, data backup, and protection against data loss has further fueled the demand for personal cloud services. Additionally, increasing data generation, digital contingency planning, and implementing disaster recovery strategies are the primary drivers of market CAGR.
Additionally, according to statistics on smartphone usage, approximately 3.2 billion individuals use smartphones worldwide, with over 5 billion owning mobile devices. Even children are getting access to mobile devices at a young age, and mobile app downloads have reached a staggering 194 billion. With around two-thirds of the world's population now connected via smartphones, internet users have significantly increased. This has created a high demand for smart device users and cloud-based services. Cloud-based services have brought numerous benefits, including reduced implementation time, quicker time to value, and the ability to rapidly scale, lowering infrastructure, energy, and facility costs. These factors have created favorable opportunities for the personal cloud market.
Additionally, the rise of digital content, the widespread internet usage, and the need for disaster recovery plans have opened up further opportunities for the personal cloud market. North America, in particular, has seen a high demand for electronic devices, contributing to the potential for business expansion and indirect revenue generation. Integrating the cloud with mobile applications has revolutionized mobile network applications and boosted business productivity. Emphasizing innovation in specific systems has also driven market growth. The increasing adoption of technology and a tech-savvy culture have improved the utilization of computing services across the entire market.Thus, these factors drive the Personal Cloud market revenue.
Based on type, the Personal Cloud market segmentation includes online cloud, server device cloud, network- attached storage cloud. The online cloud segment dominated the market; online cloud services have emerged as the preferred choice for storing and accessing personal data due to their convenience and accessibility. Users can conveniently access their data from any internet-connected device by securely storing files on remote servers. This flexibility has made online cloud services highly popular among individuals and businesses, contributing to their dominance in the personal cloud market.
Figure2: Personal Cloud Market, byType, 2022 & 2032(USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American personal cloud market area will dominate this market; owing to the growth developing factor in the North American Region, high demand for on-the-go storage rises will boost the market growth in this Region.
Further, the major countries studied in the market reportare The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure3: PERSONAL CLOUD MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Personal Cloud market accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. Further, the key players in the GermanPersonal Cloud marketoffer free personal cloud space. Region is the leading manufacturer of cloud storage devices, holding the largest market share, and the UK Personal Cloud market was the fastest growing market in the European Region.
The Asia-Pacific Personal Cloud Market is expected to grow fastest from 2023 to 2032. The widespread availability of data centers and cloud storage servers has significantly enabled end-users to access and utilize personal cloud services. The high penetration of these infrastructure resources has allowed individuals to leverage personal cloud solutions for their data storage and management needs. Moreover, China’s Personal Cloud market held the largest market share, and the Indian Personal Cloud market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Personal Cloud market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Personal Cloud products industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Personal Cloud industry to benefit clients and increase the market sector. The Personal Cloud industry has offered some of the most significant advantages recently. Major players in the Personal Cloud market, including JAPAN, Box Inc. of the United States, Amazon Web Services Inc. of the United States, Egypt of the United States, Seagate Technology PLC and Dropbox Inc of the United States., and others, are attempting to increase market demand by investing in research and development operations.
Microsoft Corporation is a well-known technology company based in Redmond, Washington. It is recognized for its popular software offerings such as the Windows operating system, the Microsoft Office suite, and web browsers like Internet Explorer and Edge. In a recent partnership, Microsoft joined forces with BIAL (Bangalore International Airport Limited) to introduce the BIAL Genie Hackathon. The collaborative initiative aims to foster the development of an MS Azure application specifically designed for the airport.
Google LLC is a prominent technology company based in the United States, specializing in various fields such as artificial intelligence, online advertising, search engine technology, cloud computing, software development, quantum computing, e-commerce, and consumer electronics.In a collaborative effort, Google Workspace and Adobe have joined forces to enhance user experience. The partnership aims to facilitate the search for creative cloud assets and enable users to easily attach public links to synchronized files, libraries, and mobile device creations directly within the Gmail platform, eliminating the need to switch between applications.
JAPAN, Box Inc. of the United States
Amazon Web Services Inc. of the United States
Egypt of the United States
Dropbox Inc of the United States
Others
Recently, in July 2023 Microsoft announced that it had unveiled Dynamics 365 Copilot, its first ever Al copilot that is integrated into cloud based CRM and ERP applications.It is aimed at enhancing processes, offering insights, providing action recommendations, reducing time spent on administrative tasks.
In October 2022, Seagate Technology developed a new data transfer feature called Cloud Import, which allows customers to quickly move large amounts of data from the edge or core to their desired endpoint in Amazon S3, Google Cloud Platform, Microsoft Azure and Lyve Mobile, among others; this process is secure for users and happens so fast. This method of data ingest is safe as well as expeditious.
This December 2022 Apple introduced three state-of-the-art security features aimed at stopping attacks against user information stored in the cloud as part of its ongoing efforts to provide even stronger options for customers’ data protection. To communicate solely with people they want to talk to, iMessage Contact Key Verification enables users to confirm this fact. Security Keys for Apple ID would be needed in order for individuals to authenticate themselves physically before gaining access to their accounts on Apple ID if it’s chosen by them. Critical iCloud information such as iCloud Backup Photos Notes, etc, have been secured further with Advanced Data Protection for iCloud that delivers maximum-in-class cloud protection through end-to-end encryption by means of which Apple maintains the highest standards possible.
In May 2023, AWS planned to invest $13 billion (Rs 1.06 trillion) over this decade in India, marking a strategic move that underlines the company's resolve to consolidate its earlier successes while opening up new opportunities in one of Asia's fastest-growing economies.
In November 2021, Microsoft and BIAL (Bangalore International Airport Limited) joined hands to launch the BIAL Genie Hackathon for creating an app using MS Azure.
In June 2021, Google Workspace and Adobe came together to enable users to search creative cloud resources and add public links to libraries, synced files, and mobile device creations without leaving Gmail.
Online cloud
Server device cloud
Network-attached storage cloud
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USDÂ 45.8128 billion |
| Market Size 2024 | USDÂ 59.6253592 billion |
| Market Size 2032 | USDÂ 377.1726694 billion |
| Compound Annual Growth Rate (CAGR) | 25.93%(2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | JAPAN, Box Inc. of the United States, Amazon Web Services Inc. of the United States, Egypt of the United States, Seagate Technology PLC and Dropbox Inc of the United States., and others |
| Key Market Opportunities | The growth of digital content, increased internet usage, and the importance of disaster recovery plans present opportunities to expand the personal cloud market. |
| Key Market Dynamics | Increasing additional storing of consumer electronic devices and enhanced improvement for disaster recovery planning. |
Personal Cloud Market Highlights:
Frequently Asked Questions (FAQ) :
The Personal Cloud market size was valued at USD 45.8128 Billion in 2023.
The market is Estimated to grow at a CAGR of 25.93% during the forecast period, 2024-2032.
North America witnessed the largest share of the market
The key players in the market are JAPAN, Box Inc. of the United States, Amazon Web Services Inc. of the United States, Egypt of the United States, Seagate Technology PLC and Dropbox Inc of the United States., and others.
The Online cloud Personal Cloud category dominated the market in 2022.
The Asia Pacific had the fastest-growing CAGR in the market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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