Global Personal Cloud Market Hits USD 23.4 Billion in 2023, Expects 19.5% CAGR Growth by 2030

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The Global Personal Cloud Market size was valued at USD 23.4 billion in 2023 and is estimated to grow at a CAGR of around 19.5% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The market delivers effective personal cloud solutions via both direct channels & partner networks under technical expertise. Hence, these leverage cutting-edge technologies, such as AI, ML, analytics, and the Cloud, for designing advanced software that offers improved efficiency. The Personal Cloud Industry commonly utilizes subscription-based methods of business. These models involve users paying a recurring fee for access to an extensive range of features, larger storage capacity, and potentially heightened security options.

Moreover, one prominent instance is Microsoft's OneDrive, which implements this approach seamlessly alongside its broader Microsoft 365 suite to offer unified functionality, catering specifically to both individual and corporate use cases. This technique generates enduring revenue opportunities while fulfilling subscriber needs by supplying them with valuable characteristics through their plan choice.

All these developments bring momentum growth towards this industry while simultaneously encouraging creative innovations across various aspects like robustness level upgrades and customization offerings tailored as per customer needs, thus meeting expanding digital connection expectations satisfactorily, further states the research report, “Global Personal Cloud Market Analysis, 2024.”

Global Personal Cloud Market Segmentation Analysis

Indirect Revenue Segment to Seize Significant Market Share

Based on the revenue type, the market is further bifurcated into Direct Revenue and Indirect Revenue. Personal cloud providers benefit from the multifarious role of Indirect Revenue, which aids in financial stability and strategic market positioning. By establishing partnerships and integrations with other entities, these providers broaden their reach while simultaneously heightening the appeal of their services to potential users. As a result, personal cloud providers can indirectly stimulate growth by exploring innovative collaborations that would meet emerging user requirements whilst supporting essential offerings within this sector's ecosystem.

North America to Outperform Other Regions

North America is foreseen to overpower other regions in the Global Personal Cloud Market during 2024-30. With the rise of smartphones and other mobile devices, handling substantial amounts of data has become a struggle for local storage management. In this regard, bespoke cloud solutions offer an easy way to securely archive and access pertinent information as required, making them crucial in modern operations. This is compounded by remote work setups that require Bring Your Own Device (BYOD) implementation effectively contributing significantly towards such developments.

Global Personal Cloud Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Google, Microsoft, Apple, Dropbox, AWS, Box, Seagate Technology, Western Digital, Synchronoss, Egnyte, Buffalo Technology, SugarSync, AT&T, Asus Cloud, Open Drive, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Personal Cloud Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?