MarketsandMarkets Projects Personal Cloud Market Growth to Hit $57.7B by 2028

The personal cloud market is now projected by MarketsandMarkets to reach $57.7 billion (3028), reflecting a CAGR of 18.5 percent from 2023’s $24.7 billion. This growth, it was noted in a recent report, will likely be influenced by environmental considerations, fluctuating subscription cost and regulatory interference.

The market should also be defined by increasing reliance on edge computing, cybersecurity, IoT, AI integration and cross-platform compatibility.

Large enterprises, MarketsandMarkets noted, are expected to hold the biggest market share among Personal Cloud usage, driving subsequent demand for newer, advanced features, enterprise-level security and scalability to meet expansive organizational structures. This should occur primarily in North America. With the evolving digital ecosystem, the North American Personal Cloud market is expected to be driven by ongoing digital transformations, IoT device proliferation and data privacy awareness. The region’s tech-savvy population and the evolution of personal cloud advances are expected to sustain market growth, making it a “pivotal” component of the broader digital landscape in North America.

Likewise, key “players” in the Personal Cloud segment include major technology companies and dedicated service providers, both taking advantage of the demand for secure, accessible storage offerings.

Major Personal Cloud providers include: Google, Microsoft, Apple, Dropbox, AWS, Box, Seagate, Western Digital, Synchronoss, Egnyte, BUFFALO Technology, Funambol, SugarSync, ElephantDrive, Cloudike, SpiderOak, ASUS Cloud, IDrive, AT&T and OpenDrive.

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