Personal Cloud Market Forecast (2020 - 2025)

Overview

Personal Cloud Market size is forecast to surpass $177 billion by 2025, growing at CAGR 17.8% during 2020-2025 owing to the increasing number of smartphone users globally with growing penetration of 4G subscribers. Apart from this, the significant rise in enterprises opting for indirect personal cloud services due to its less go-to-market time, higher profit margins and so on. This is set to assist the market growth especially in the small and medium business end users during the forecast period 2020-2025.

Key Takeaways- Personal Cloud Industry Outlook

  • Small and medium business market vertical for personal cloud to witness prominent growth rate during 2020-2025, owing to the low cost, ease of scalability and elimination of the need for big IT team
  • Increase penetration of mobile workers in SME along with adoption of Bring-Your-Own-Device (BYOD) scheme to reduce the IT infrastructure cost also set to drive the personal cloud market
  • Explosive growth of smartphones and connected devices to create a significant surge for personal cloud services for OTG data storage featuring anytime and anywhere access to the data across multiple platforms.

User Type - Segment Analysis

The individual user segment is estimated to acquire the major market share in 2018 owing to the explosive growth in the number of smartphone users. The surge the demand for cloud storage of mobile data incorporating contacts, pictures, videos, messages and other files for access at any point of time and place; this is analyzed to be the major driver driving the individual personal cloud market. Small and medium business users for personal cloud segment, particularly for NAS Device cloud and service device cloud is set to witness significant growth of CAGR 19% during the forecast period 2020-2025 owing to shift to personal cloud for file storage due to its cost effectiveness as compared to onsite storage servers, thereby eliminating the need for IT staff. The

Geography - Segment Analysis

North America dominated the personal cloud market acquiring a share of around 35% in 2018 owing to the large base for customers with on-the-go storage needs coupled by the higher purchasing power towards new technology based products. Additionally, the penetration of connected technologies such as smart home, smart devices and so on is also significant driving the demand for personal cloud as a one stop solution for dumping the backup data generated from multiple connected devices for ease of access from any mobile devices. APAC personal cloud market is estimated to witness the highest growth rate during 2020-2025 owing to the growing tech savvy customer base in this region. Apart from this adoption of 5G in this region from 2020 is set to open up new opportunities for personal cloud market as high speed data transmission and on-the-go data access is set to lower the data loading time thereby attracting more customer attention.


Drivers – Personal Cloud Industry

·         Broad 4G customer base

As per GSMA, the global 4G connections surpassed 3.4 billion subscribers which stood as 43% penetration in the total subscribers by the end of 2018. This is set to reach 59% by 2025 with smartphone adoption surging to 79% by 2025 from 60% in 2018. The significant increase in number of smartphone users with 4G connections is set to propel the personal cloud market growth during 2020-2025. This combined with the advent of cloud computing will drive the personal cloud market.

·         Shifting focus to mobile workforce

The evolving small and medium enterprises are blooming at a rapid pace with shift in focus towards mobile workforce to extend its reach and support services. The adoption of mobile workforce creates the demand for personal cloud for setting up a centralized data storage architecture which can be access as per requirement and convenience. As per the U.S. Bureau of Labor Statistics estimates, the share of millennial in the mobile workforce is set to surge to 75% by 2030. And as per IndustryARC estimated the total number of mobile workers in the U.S. is set to surpass 100 million by 2020 which represent over 70% of the total U.S. workforce. The growing number of mobile workers is set to drive the personal cloud market during 2020-2025.

“We also publish more than 100 reports every month in "Information and Communication Technology", Go through the Domain if there are any other areas for which you would like to get a market research study”.

Location: United States

Comments

Post a Comment

Popular posts from this blog

Animal Nutrition Market - Forecast (2021 - 2026)

Animal Nutrition Market Overview: As per the Food and Agriculture Organization of the United Nations, the global population will reach the 9 billion mark by 2050, constructing food challenges. Owing to the depletion of arable land as a result of industrialization, food security is a major objective and livestock products are among the prime means to meet such objectives. Economic development has induced pressure on the livestock sector for more efficient production with limited resources; it also supports the income and food security of almost 1.3 billion people. Thus, animal farming sector is capitalizing upon food security concerns, accounting for nearly 40% of the global agricultural production value. Animal nutrition is a necessity with increasing uptake, for the mandatory affluence of global livestock sector and primarily for the rampant production of protein-enriched commodities such as meat, eggs, and milk to feed the majority of the non-vegetarian population globally. Apart...
Read more
Stevia Rebaudiana Market Overview: Stevia Rebaudiana are leaves containing sweetening compounds and are also called as sweet leaves and candy leaves. Stevia Rebaudiana is not chemically processed and also have various advantages. These does not contain any carbohydrates and calories, this being the important reason on the increased usage of stevia. The market for Stevia was valued at $476.46 million in 2017 and is estimated to reach by $781.61 million in 2023 with a projected CAGR of 8.6%. China has been the largest producer of stevia followed by the U.S. In terms of consumption, APAC is the largest consumer of stevia followed by the North American region. Stevia Rebaudiana Market Outlook: Stevia Rebaudiana has two sweetening agents namely stevioside and rebaudioside. Rebaudioside is the major ingredient that is responsible for the major sweetness. Rebaudiana is more expensive due to its further processing and filtration. Stevia leaves can be directly added to the beverages or could b...
Read more

Snack Pellets Market - Forecast (2021 - 2026)

Snack Pellets Market Overview: As per the statistics provided by “Trading Economics” the disposable personal income in the United States averaged $5,287.79 billion from 1959 until 2019 . The rise in disposable income is the main factor which is gravitating people towards preferring snack products over traditional meals. Hectic life, busy schedules, and extended professional timings are giving rise to undefined food habits and the traditional way of cooking and eating meals has been subsiding. In the busy professional and personal life, people have started opting for snack pellets, as it saves time and also relieves them from stress and boredom. Additionally, increasing food cravings among people, wide varieties of snacks in terms of shape, color, and flavor, and high availability of raw materials are fuelling the growth of snack pellets market. The global snack pellets market had a market size of $6.4 billion in 2018 and it is expected to grow at a CAGR of 5.80% during 2019-2025. ...
Read more