Demand for efficient storage, increased frequency of data access, data sharing, usage of portable devices such as tablets and multimedia phones, cost-effective storage, and safety against data loss are expected to drive the market over the next few years. A low degree of awareness, credible security concerns, and a lack of funds are expected to restrain market growth. Delivering affordable and safe data storage is a challenge for cloud service providers.
The global personal cloud storage market has been segmented based on revenue type, user type, hosting type, and regions. The provider hosting type is expected to grow significantly and dominate the hosting type segment with a larger share than users hosting. Also, the individual user segment is attributed to have the highest revenue segment. However, small business deployment types would constitute the fastest CAGR during the forecast period.
The Global Personal Cloud Storage Market is characterized by the presence of several regional and local providers. Some of the Key Players in the market are:
November 2022: Dell Technologies Inc. reported that Dell PowerFlex is now available in the AWS Marketplace as part of its ongoing development of the Dell APEX business. By using the current cloud credits, customers can get mission-critical performance, resilience, scale and management of PowerFlex. This broadens its AWS data protection portfolio whereby Dell’s leading storage software offerings will be made available on public clouds via Project Alpine.
As an example, at RSA 2022 in June 2022, Cisco System introduced Everything-as-a-Service Cisco Plus for Unified Secure Access Service Edge.
“Cloud replication,” launched by Backblaze in June 2022, facilitates data storage across multiple sites. Many businesses are using B2, which is not just a simple backup solution but a framework to develop applications and services on top of it. On the other hand, this new service by Backblaze called cloud replication is meant to auto-save all customer’s data currently saved on B2.
In May 2022, Red Hat And Accenture expanded their near-12-year strategic alliance to drive enterprise-wide open hybrid-cloud innovation. The organizations have also agreed to invest in co-development of solutions required to manage smoothly through a multi-cloud/multi-hybrid world, articulate their objectives and increase their innovation intensity with a view to achieving faster value realization.
For instance, in September 2021, Microsoft and global travel technology company OYO announced a multi-year strategic alliance to co-develop next-generation travel and hospitality products and technologies. OYO will use Microsoft Azure as one of the key enablers driving cloud-based innovations aimed at reimagining hospitality and travel tech industries.
June 2021 Wisekey International Holding SA is going to launch WISeID Cloud Storage as an additional feature to the WISeID platform for digital identity & cybersecurity services. As such, users are able to store their secured files in the cloud on servers safeguarded by Swiss technologies used by WiseKey.
Similarly, in February 2021, Google Cloud and Nasuni Corporation, one of the file cloud data storage companies, partnered. The major factor that affected it was a growing demand for enterprise information storage. Using these models enables organizations to satisfy basic needs, including data security, availability and durability. This is expected to encourage businesses to adopt cloud-based data storage via their features.
Personal Cloud Storage Market Regional Analysis:
Geographically, the Global Personal Cloud Storage Market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America dominates the personal cloud storage market owing to the advent of new technologies and increased awareness among the masses in the region. Along with North America, Europe is expected to show significant growth opportunities during the forecast period.
Asia-Pacific is estimated to grow rapidly with the highest CAGR and is expected to contribute immensely to the market revenue. The market in the Middle East and Africa is also expected to grow and its progress will rely heavily on the need for service agility and data security concerns. Similarly, the market in South America is expected to grow steadily over the forecast period.
Key Questions Addressed by the report
| Report Attribute/Metric | Details |
| Market Size | USD 59.8 Billion |
| CAGR | 19.30% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Revenue Type, User Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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 |
| Key Market Opportunities | North America dominates the personal cloud storage market owing to the advent of new technologies and increased awareness among the masses in the region. Along with North America, Europe is expected to show significant growth opportunities during the forecast period. |
| Key Market Drivers | The rise in data accessing frequency can bolster the expansion of the global mar |
Personal Cloud Storage Market Highlights:
Frequently Asked Questions (FAQ) :
The personal cloud storage market can thrive at 19.30% CAGR by 2030.
The personal cloud storage market can achieve a lucrative valuation by 2030.
POLKAST LLC, D-Link Corporation, MEGA Ltd., Mozy Inc., ElephantDrive, and Dell are some reputed organizations in the personal cloud storage market.
The rise in data accessing frequency can bolster the expansion of the global market of personal cloud storage.
Corporates in APAC are actively deploying cost-effective personal cloud storage solutions, which can prompt the regional personal cloud storage market growth.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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