Personal Cloud Market Overview :
Personal Cloud Market is expected to garner $89.9 billion by 2020, registering a CAGR of 33.1% during the forecast period 2015-2020.
The Global Private/pesonal cloud market is a storage platform that enables the customers to access, synchronize and share stored data across various mobile devices such as smartphones and tablets. In this era of digitalization, there is an increasing need of storing and sharing personal data or professional data. The rapidly increasing tech-savvy population has considerably led to the growing demand of cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphones and tablets, has created a huge demand for a secure platform to store digital content. Personal cloud services would facilitate file storage and sharing among the employees and enterprises who have adopted the BYOD trend.
Personal cloud services offer better storage, accessibility and sharing of user data along with enhanced security features. They have set up new standards for individuals to utilize the cloud computing services by offering better user experience and ease of use. The increase in the number of social media sites and upsurge in smartphone and broadband connections have boosted the growth of personal cloud services. The use of these services for storing photos, videos, contacts and other important files among individuals is the most dominant application as compared to other applications. The usage of multiple devices would drive the rapid adoption of personal cloud solutions among individuals. In future, these services are expected to witness widespread demand among individual and business customers owing to the growing need for data storage platforms, leading to the increased adoption of personal cloud services.
Personal cloud service value chain mainly consists of three entities viz. Developers, Cloud Service Providers and end consumers. The value chain for personal cloud market starts with application developers, developing applications for using the personal cloud services on computers, smartphones, tablets and other mobile handheld devices. Cloud Service Providers provide cloud-hosting services through their data centers to the customers known as Provider Hosting.
Global personal cloud market is segmented based on type of deployment, revenue type and type of hosting. The deployment type is categorized into individual customers, small businesses and medium businesses. Type of hosting divides the market into user hosting and provider hosting. While revenue type segments the market into direct revenue and indirect revenue. Geographically, the market is segmented into North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa).
Rapidly increasing digital content, the burgeoning need for storing and accessing data from anywhere and anytime, and optimal control and security of the stored data; have been driving the adoption of personal cloud among the individual consumers as well as small and medium enterprises. For individuals, the personal cloud service need is expanding mainly due to increased usage of camera-equipped smartphones and tablet PCs while the growing application of personal devices at workplaces, more commonly known as Bring Your Own Device (BYOD) is driving the demand of personal cloud service among business users. Individuals was the highest revenue-generating deployment type across the globe in 2014. However, small businesses deployment type would constitute the fastest CAGR during the forecast period, 2015-2020.
Top factors impacting personal/private cloud market
Fast, real time access to stored data
Personal cloud services provide faster and convenient access to data, leading to its widespread popularity among the population. The growing concern of space limitation on gadgets to store digital content, photos, videos, images and documents among tech-savvy individuals had led to the increasing popularity of personal cloud services. Nevertheless, aggrandized generation of data is due to the increased use of smartphones, tablets and laptops. In addition, many businesses allow access and sharing of work-related data over their handheld devices to improve productivity. Thus, the need for faster and quick access to stored data would trigger the demand of personal cloud services.
Disaster recovery planning
Business organizations are concerned about the security of their highly confidential data. Personal cloud models offer security infrastructure for data storage. These help in protecting the data from unexpected events such as natural disasters, terrorist attacks and system downtime among others.
Growing BYOD and mobile workforce trends
Businesses across the world are facing concerns about their increasing IT expenditures. Bring-Your-Own-Device, a recent trend that is rapidly gaining acceptance in corporate sectors to minimize the expenditure incurred in setting up devices. In addition, personal cloud allowing companies to store the data at a centralized location and facilitates their employees to access it as per convenience. Several business organizations have adopted personal cloud services owing to the growing BYOD and mobile workforce trends.
Privacy and security issues
The uploading of business data from personal devices to personal cloud platforms poses a major concern owing to the risk of data leaks, creating hurdles for small business and medium business enterprises. However, cloud service providers are adding new security features and enhancing their firewall to minimize this risk.
- This study provides an in-depth analysis of the personal cloud market with current and future trends to elucidate the imminent investment pockets in the market
- The report provides information regarding key drivers, restraints and opportunities with impact analysis
- Porter’s five forces analysis of industry and SWOT analysis of the key market players have been provided to illustrate the business strategies adopted by them
- The value chain analysis of the industry highlights the key intermediaries involved and elaborates their roles and value additions at every stage in the value chain.
- The quantitative analysis of the market during the period of 2014‐2020 has been provided to elaborate the market potential
PERSONAL/PRIVATE CLOUD MARKET SEGMENTS
The market is segmented based on type of revenue, type of hosting, type of deployment and geography.
By Type Of Revenue
By Type Of Hosting
By Type Of Deployment
- Small businesses
- Medium businesses
- North America
Personal/Private Cloud Market