Personal Cloud Market

Personal Cloud Market Outlook (2024 to 2034)

Valuation of the global personal cloud market size is estimated at US$ 43.63 billion in 2024 and is projected to increase at a CAGR of 20.6% to reach US$ 283.98 billion by the end of 2034.

Rising demand for high-frequency data access and data sharing, cost-effective, and efficient storage, and safety against data loss are boosting personal cloud storage systems demand. Growing number of tie-ups with top personal cloud service providers along with bridging the connectivity and accessibility gap will further contribute by generating immense opportunities that possibly lead to personal cloud market growth.

Services and products that allow people to remotely store, manage, and access their digital data and content using cloud computing technology are referred to as personal cloud solutions. Several services are offered in this industry such as file sharing, media streaming, data storage, and device synchronization. Many companies in the technology industry often provide personal cloud services to meet the needs of individual customers about data management, security, and accessibility.

Functionality and attractiveness of personal cloud solutions are improved by their integration with other digital services and apps such as productivity tools and smart home appliances. The market for personal cloud is growing at a noteworthy pace as users are finding it an ideal choice when compared to conventional physical storage devices due to their scalability and affordability.

Key Market Growth Drivers

• Key factors that are contributing to the expansion of the personal cloud market size are the increasing number of social media sites, adoption of personal cloud solutions, tech-savvy population, and use of personal cloud services for storing photos, videos, and contacts.
• Increasing number of internet users worldwide and the ubiquitous availability of high-speed internet are making it more practical and convenient to access and manage data through personal cloud services.
• Growing use of smartphones, tablets, and other connected devices is boosting demand for personal cloud services that offer seamless data synchronization.
• To meet consumer concerns regarding data privacy and protection against cyber threats, personal cloud services provide advanced security features such as encryption and multi-factor authentication.
• Increasing amount of data is being generated from various sources, such as social media, smartphones, and digital content creation is creating demand for personal cloud solutions to manage and store data efficiently.
• Users find great ease in being able to access files and media at any time and from any location, which encourages them to use personal cloud services.

Report Attribute	Detail
Personal Cloud Market Size (2024E)	US$ 43.63 Billion
Forecasted Market Value (2034F)	US$ 283.98 Billion
Global Market Growth Rate (2024 to 2034)	20.6% CAGR
North America Market Share (2024E)	33%
East Asia Market Value (2024E)	US$ 10.25 Billion
Consumer Segment Value (2034F)	US$ 178.91 Billion
User Hosting Segment Value (2034F)	US$ 127.79 Billion
Key Companies Profiled	Amazon Web Services Inc.; Apple Inc.; Box Inc.; Microsoft Corporation; Dropbox Inc.; Google; Mozy Inc.; SpiderOak; Seagate; Egnyte Inc.; Sugarsync; ElephantDrive; Western Digital; D-Link Corporation; Buffalo Technology; ASUS Cloud; Ubuntu One; Hivelocity; CME Group; Hewlett Packard Enterprise; Vultr; Wisekey International Holding SA.

What is Pushing Adoption of Personal Cloud Services across the Globe?

“Increasing Adoption of Bring Your Own Device Policy”

One of the key personal cloud market trends is the increasing adoption of the “bring your own device” (BYOD) policy. In the IT sector, BYOD is increasingly being adopted at the workplace to access secure data. Individuals use cloud services such as iCloud and Google Drive to control data risk. Many personal cloud services offer access to shared data with security features.

Rising use of smart devices such as tablets and smartphones is contributing to market growth. This is leading to the generation of large volumes of data such as videos, images, documents, application data, and many others. Personal cloud users can store their data safely and retrieve it from any location, thus providing seamless access to various devices.

What Issue Do Personal Cloud Service Providers Face?

“Heavy Dependency of Personal Cloud Services on Internet”

Main concern among key players is that personal cloud services depend heavily on reliable internet access, which creates difficulties in areas with spotty or unreliable internet service. Internet access is necessary for personal cloud services to upload, sync, and view remotely stored data.

Users sometimes encounter problems uploading or retrieving files in locations with inconsistent internet infrastructure or low speed, which affect the ease and usability of personal cloud solutions. This in turn hinders real-time collaboration and synchronization across various devices. This reliance on Internet connectivity sometimes hampers the seamless experience that these services seek to offer.

Country-wise Insights

The North American region is expected to lead with 33% of the global personal cloud market share in 2024. This is attributed to the growth of technology companies in the United States along with the rising adoption of cloud services from top personal online cloud storage providers in the country by various business verticals. Moreover, the development of new and advanced personal cloud infrastructure and personal cloud storage devices by businesses in the country further supports the United States in staying ahead of the curve in the global market.

Why is Utilization of Personal Cloud Solutions High in the United States?

“High Amount of Data Being Produced by IoT Devices”

Attribute	United States
Market Value (2024E)	US$ 6.41 Billion
Growth Rate (2024 to 2034)	20.3% CAGR
Projected Value (2034F)	US$ 40.79 Billion

In the North American region, the United States is poised to hold 44.5% revenue share in 2024 and is further projected to account for 45.6% by the end of 2034. Increasing implementation of the Internet of Things (IoT) devices such as wearable technology and smart home appliances in the United States is generating huge volumes of data, which is driving up demand for personal cloud solutions. IoT devices collect and send vast amounts of data about user behaviors, surroundings, and device interactions.

Personal cloud services are becoming essential in the United States for effectively handling this data flow as they offer scalable storage options that are suitable for the growing data requirements of IoT applications.

Why is Need for Dependable Storage Solutions Growing in Japan?

“Increase in Digital Content Generation and Focus on Safety and Convenience”

Attribute	Japan
Market Value (2024E)	US$ 2.96 Billion
Growth Rate (2024 to 2034)	22% CAGR
Projected Value (2034F)	US$ 21.71 Billion

Demand for personal cloud increasing at a high pace in Japan. The need for dependable storage solutions is growing in Japan which is being driven mostly by the increase in the generation of digital content. Digital content creates a need for data storage need for documents, films, images, and many more. There is an increasing requirement for safe and convenient ways in Japan to store a vast amount of digital content that professionals or individuals produce.

As personal cloud services provide scalable and practical solutions that let customer safely store, view, and share their content from any device, the adoption of personal cloud solutions continuously rising in Japan at a high pace.

Category-wise Insights

Based on revenue, the market is segmented into direct revenue source and indirect revenue source. Indirect revenue refers to revenue generated from sources such as licensing, advertising, business tie-ups with major technology providers or device manufacturers, and white-label cloud offerings. The increase in electronic advertising across the globe is one of the key factors driving demand for advanced personal cloud storage solutions.

Why Do Enterprises Need Advanced Personal Cloud Solutions?

“Requirement of Personal Cloud Solutions to Handle Bulk and Sensitive Data”

Attribute	Enterprises
Segment Value (2024E)	US$ 13.96 Billion
Growth Rate (2024 to 2034)	22.4% CAGR
Projected Value (2034F)	US$ 105.07 Billion

Requirement of personal cloud services in enterprises growing at a high pace in comparison with consumers. Enterprises handle lots of sensitive data, intricate processes, and teamwork-based initiatives that need scalable, safe storage and sharing solutions. In corporate environments, the personal cloud helps to protect data privacy, guarantee legal compliance, and especially offer easy communication facilities between staff members who work in different places.

Enterprises generally require the integration of personal cloud services with existing IT infrastructure and security regulations, necessitating the usage of more advanced solutions than those commonly used by consumers. Also, increasing investments among enterprises to upgrade their infrastructure and meet the rising demand of consumers fosters segment growth.

Which Hosting Type Accounts for a Significant Market Share?

“Service Provider Hosting Preferred for Affordability and Scalability”

Attribute	Service Provider Hosting
Segment Value (2024E)	US$ 25.31 Billion
Growth Rate (2024 to 2034)	20% CAGR
Projected Value (2034F)	US$ 156.19 Billion

Due to affordability, scalability, and convenience for individuals and enterprises, service provider hosting accounts for more revenue share than user hosting throughout the projection period. This eliminates the need for consumers to purchase and maintain their gear and software by providing reliable infrastructure, technical know-how, and managed services.

Customers can make use of professional-grade hosting solutions while concentrating on their core business. Upgradation of security protocols and round-the-clock assistance are essential for maintaining online presence.

Competitive Landscape

Product innovation and strategic mergers & acquisitions characterize the market. Key players in the personal cloud market are focusing on enhancing their capacity and expanding their geographical footprint to leverage lucrative prospects in several countries.

• In June 2024, CME Group and Google Cloud announced plans to build a new private Google Cloud region and co-location facility in Aurora, Illinois, marking a critical milestone in the businesses' transformative cooperation.
• In June 2024, Hivelocity, a pioneer in colocation, private cloud, and bare metal hosting solutions, which Colohouse recently bought, announced the release of its new VMware-powered private cloud product. Utilizing the most recent iterations of the VMware Cloud Foundation (VCF), Cloud Director, and NSX architectures, this new service will offer completely integrated services and capabilities for backup, restore, and disaster recovery (DR).
• In April 2024, Vultr, the largest privately held cloud computing platform in the world, announced the launch of Vultr Sovereign Cloud and Private Cloud.
• In January 2024, with the expansion of their collaboration, Microsoft and the London Internet Exchange (LINX) started providing the Microsoft Azure Peering Service (MAPS) in Northern Virginia (NoVA). By doing this, Microsoft's cloud services will now be privately accessible to enterprise clients.
• In June 2021, Wisekey International Holding SA, a leading cybersecurity and IoT company launched its WISeID Cloud Storage service as a new addition to the WISeID platform for digital identity and cybersecurity services. WISeID Cloud Storage service enables users to keep protected file storage in the cloud, in servers secured by WISeKey’s Swiss technologies.
• In September 2021, Microsoft and global travel technology company OYO announced a multi-year strategic alliance to co-develop next-gen travel and hospitality products and technologies. OYO will adopt Microsoft Azure as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry.

Fact.MR provides detailed information about the price points of key providers of personal cloud solutions positioned across the world, sales growth, production capacity, and speculative technological expansion, in this updated market report.

Segmentation of Personal Cloud Market Research

• By Cloud Type :

  • Online Cloud
  • NAS Cloud
  • Server Cloud
  • Home-Made Cloud
  • On-Premise Cloud

• By Revenue :

  • Direct Revenue Source
  • Indirect Revenue Source

• By Hosting Type :

  • Service Provider Hosting
  • User Hosting

• By User :

  • Consumers
  • Enterprises

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa