The personal cloud market size was valued at $26.80 billion in 2019, and is projected to reach $161.39 billion by 2027, growing at a CAGR of 24.6% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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Increase in demand for fast, and real time access to diversified data, surge in need for disaster recovery, and growing BYOD and mobile workforce trends drive the global personal cloud market. On the other hand, data security and privacy issues impede the growth to some extent. However, rise in initiatives to bridge the connectivity and accessibility gap in developing economies is expected to create multiple opportunities in the industry.
The key market players operating in the personal cloud market include Apple Inc., Google Inc., Microsoft Corporation, Amazon Web Services Inc., Dropbox Inc., Egnyte Inc., Copy (Barracuda Networks Inc.), SpiderOak, Box Inc., and Buffalo Inc.
The global personal cloud market is segmented across revenue type, hosting type, end-users, and region. Based on revenue type, the direct revenue segment accounted for more than three-fifths of the total market revenue in 2019 and is anticipated to rule the roost by 2027. The indirect revenue segment, on the other hand, would cite the fastest CAGR of 25.6% throughout the forecast period.
Based on type of hosting, the service provider segment contributed to more than four-fifths of the total market share in 2019 and is expected to lead the trail by 2027. Simultaneously, the consumer segment would manifest the fastest CAGR OF 26.7% till 2027.
Based on region, North America held the major share in 2019, garnering nearly two-fifths of the global market. At the same time, Asia-Pacific would portray the fastest CAGR of 27.0% from 2020 to 2027. The two other regions studied in the report include Europe and LAMEA.
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