Sarasota, FL, July 25, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Personal Cloud Market by Deployment Type (Individuals, Small Businesses, Medium Businesses) by Hosting Type (Provider Hosting, User Hosting): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 - 2022” . According to the report, the global personal cloud market was valued around USD 20.79 billion in 2016 and is expected to reach USD 115.05 billion by 2022, at a CAGR of 33.02% for the forecast period from 2017 to 2022.
Personal cloud market offers better storage, accessibility, and sharing of user data along with enhanced security features. Personal cloud services provide faster and convenient access to data, leading to its widespread popularity among the population. The fast increasing tech-savvy population has considerably led to the growing demand for cloud computing services in the recent years. The increasing use of camera-equipped devices, such as smartphone and tablets, has created a huge demand for a secure platform to store digital content. Personal cloud services would facilitate file storage and share among the employees and enterprises who have adopted the BYOD trend.
Browse through 13 Market Tables and 19 Figures spread through 110 Pages and in-depth TOC on "Global Personal Cloud Market: By Type, Services, Size, Share, Growth and Forecast 2016 – 2022”.
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The market has 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. As the technology is getting advanced day by day personal cloud services have started offering interactivity, convenience and user privacy which was not possible before but the advancing technology has made it possible. Fast & real time access to data and growing awareness is a couple of drivers influencing the growth of the market. The personal cloud market has vast opportunities and challenges in the forecast period. Developing economies can one of the opportunities for the market.
North America is the leading market for personal cloud solutions owing to increased awareness and growing tech-savvy population. North America has the highest share of the global Cloud Professional services market. This is due to the early adoption of cloud based networks by the U.S. markets. The crunch in resources to create in-house facilities and increasing incidence of BYOD are helping the North American market generate the highest revenue. Although Initial adoption of cloud computing has been driven primarily by financial factors, such as lower capital expenditures. But nearly as important have been benefits such as improved agility and flexibility, as well as being able to deploy new applications more quickly.
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Europe includes tech savvy organizations that are fully reliable on personal cloud services. The business environment is fast changing towards ubiquitous data and its management. The European market for cloud computing is growing rapidly. Europe’s increasing IT-skills shortage creates interesting opportunities for outsourcing. The big and the small companies use cloud services to make their IT environment more flexible. Europe is the leading market for personal cloud market along with North America.
Asia-Pacific is also a growing market for personal cloud market. With the improvement in technology, private firms along with the government have adopted cloud services. The growing trend of multi-device ownerships would fuel the adoption of personal cloud solutions among the Asian population and enable the Asia Pacific region to emerge as the leading market, contributing nearly 40% of the market revenue by 2020. In the forecast period, The Asia-Pacific region would witness increased demand for personal cloud solutions as compared to North America and Europe, owing to a significantly higher usage of multimedia devices coupled with the faster broadband networks.
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The personal cloud market in Latin America will grow steadily during the next four years and post an impressive CAGR of about 29% by 2020. This market research analysis identifies the rising popularity of service-oriented architecture (SOA) as one of the primary factors that will have a positive impact on the growth of the personal cloud market.
The Middle East and Africa personal cloud services market are expected to grow from USD 0.41 billion in 2014 to USD 1.92 billion in 2019, at a CAGR of 36.18%, from 2014 to 2019. The market is primarily driven by the data security concerns and the need for service agility in the Middle East and Africa region. The countries such as Kuwait, Qatar, Dubai and Abu Dhabi in the Middle East have a large share of the crude oil reserves. Their economy is dependent on the export of hydrocarbons. However, they have now started to diversify the businesses in the region, so that oil shocks and other political hostilities do not affect their GDP’s. Enterprises are also expanding in African countries such as South Africa, Nigeria, Kenya, and Algeria are fast expanding their presence globally. This has led to serious concerns regarding security and protection of confidential data which are very sensitive for their businesses. Cloud infrastructure service providers are targeting companies in EMEA region, which are expanding as a result of globalization and facing such intricacies in their business processes. Adoption trend of cloud technology due to its benefits has further propelled the demand of cloud infrastructure services in this region.
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The major participants in the personal cloud market which includes Amazon, Apple, Google, Seagate, Box, Microsoft, Dropbox, Engyte, Buffalo Technology, and Sygarsync.
The report segment of personal cloud market is as follows:
Global Personal Cloud Market: Deployment Type Segment Analysis
- Individuals
- Small Businesses
- Medium Businesses
Global Personal Cloud Market: Hosting Type Segment Analysis
- User Hosting
- Provider Hosting
Global Location Based Services Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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