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Personal cloud is designed for synchronizing and sharing photos and helps to store, and share music, documents, videos, and photos along with other digital content via various screens and platforms. Personal cloud is meant for helping users get access to their digital content from any device and system in a seamless manner across same or multiple platforms and devices. The increasing penetration of the interne and high demand for a strong and reliable platform for storing data and information is a prime factor boosting the growth of the global personal cloud market during the forecast period, 2021 and 2031.
The rising demand for cloud-computing across all end user segments, coupled with cost-efficient computing solutions, faster access to data, and premium security is projected to aid in expansion of the global personal cloud market. Additionally, the rising use of smartphones and broadband connections will also add boost to the overall growth of this market in the forecast period. Moreover, the advent and rising popularity of bring-your-own-device or BYOD culture will further help this market gain significant revenues in the coming years.
The report on the global personal cloud market provides an elaborate overview of the market and its key growth trajectories such as factors boosting, repelling, challenging and creating new opportunities for this market. The report also highlights the impact of the novel COVID19 pandemic on this market and how can players attract notable revenues during this time period by adopting strategies such as product innovations, product quality improvement, and others. The list of players is provided in this report with their key contributions to the market. For more information on the report, log on to the company website.
The nature of the global personal cloud market is highly competitive on account of the presence of multiple players. Some of them are engaging in collaborative efforts, joint ventures, and merger acquisitions to gain notable revenues while others are investing on research and development activities to ensure their position amongst the top competitors of the market. The other players are also engaging in product development and innovation so as to attract significant revenues in the overall market competition.
Some of the key players of the global Personal Cloud market include:
The growing popularity of small and medium-sized enterprises or SME propelled the need for personal cloud for safety as well as logistic purposes, thereby aiding in expansion of the global personal cloud market. This is likely to continue in the forecast period as well on account of the rapid technological processes and innovations in personal cloud technology. The increasing awareness about SMEs and the benefits of adopting personal cloud for smooth operations for their businesses will further help this market generate significant revenues in the future.
Geographically, North America emerged dominant for the global personal cloud market on account of the growth of multi-cultural organizations needed to operate in similar platforms without compromising the quality of work in various regions. The United States held the highest shares of this region. Other factors such as the presence of key players and the increasing adoption of IoT, analytics, and SaaS will further help this region continue to dominate the market in the future. Europe ranks second in terms of region and Asia Pacific is projected to witness fast growth rate owing to the rapid adoption of IoT in commercial sector, coupled with the rising popularity of BYOD (bring your own device) culture into the corporate.
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Personal Cloud Market
