The market is segmented on the basis of six regions into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is expected to have the largest market share in the personal cloud solutions and services due to increasing demand of BYOD and early adoption of cloud-based networks. Asia Pacific is the fastest-growing region in the personal cloud market, owing to the growing adoption of cloud service in various organizations and the increasing demand for file storage and sharing on a server. According to the Select USA, in 2015, the U.S import around US$34 billion worth of cloud computing services.
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Personal cloud is utilized for storing personal information and data such as photographs, videos, and important files among others, which requiring security. Personal cloud is used synchronize or share professional data with various devices such as tablets and smartphones. Personal cloud offers high capacity of cloud-based storage, without losing control of information. This in turn helps boost market growth. Cloud storage does not require storing information onto a hardware, as it can be managed by the cloud service provider, making it a convenient option for storing and sharing data. Personal clouds make it possible to access folders on a device through user-friendly API.
Personal Cloud Market Growth Factor
Growing digitalization is increasing the demand for sharing and accessing personal data, in turn, increasing the demand for cloud computing services. Personal cloud services offer facilities that help in sharing and accessing file storage within organizations adopting bring your own devices trend. Increasing use of smartphone and social media sites is boosting the demand for data storage platforms. Increasing adoption of multiple devices is driving the adoption of personal cloud solutions such as lacie cloudbox, synology diskstation, and WD my cloud mirror. High prices associated personal cloud offered by cloud service providers pose as a major restraint for growth of the personal cloud market.
Rising adoption of bring your own devices trend is expected to boost growth of the personal cloud market
Adoption of bring your own device is the expected to boost demand for personal cloud. In the IT sector, BYOD is increasingly being adopted at the workplace to access secure data. Individuals use cloud service such as iCloud and Google Drive, are widely used for controlling data risk. Several personal cloud services are increasingly offering accessibility, enhanced storage, and access to share data with security features. According to Insight Enterprises, in 2017, 59% organizations allow their employees to use their own devices at the workplace. Some organization offering their personal cloud solutions to several organizations in various industry sector. For instance, the Amazon Web Services provide cloud services to IT sectors
Personal Cloud Market Competitive Market:
Key players operating in the personal cloud market include Apple, Amazon, Seagate, Microsoft, Box, Dropbox, Google, Engyte, Buffalo Technology, Tonido, Western Digital, and Sugarsync.
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