The global personal cloud market is estimated to have revenues of $89.9 billion by 2020, according to new research.The report by Allied Market Research, titled World Personal Cloud Market - Opportunities and Forecasts, 2014-2020, said that the market would increase by 33.1 per cent between 2015 and 2020. It said that growing customer awareness is expected to boost the growth of the personal cloud services in future.
“Personal cloud for individuals, which is the foremost application of these solutions, would continue to lead the market in future,” the report said.
But growing demands from the Asia-Pacific region would lead to a major turnaround in the market and would constitute about two-fifths of total market share in 2020, surpassing North America and Europe.
“Technological advancements in the fields of cloud computing and electronic gadgets have led to the advent of the digital era,” said the analyst firm.
It cited increasing adoption of smartphones, tablets and other mobile devices as boosting the growth of personal cloud market owing to increasing storage requirements. Several organisations have focused on improving productivity by developing a virtualised workplace using personal cloud storage service, it said.
The internet and social media applications as well as the emergence of multi-featured, affordable smartphone devices have led to the trend of storing and accessing personal data using personal cloud platforms, the firm said.
“Improvised secure features and personalised data storage offer an exceptional user experience.,” said the analysts. “This has resulted in the increased demand of personal cloud solutions among individuals and has created growth opportunities for developing customised solutions. Additionally, the growing trend of adopting Bring-Your-Own-Device (BYOD) among organizations has helped in boosting the growth of the market.”
Fore More Details: http://www.cloudpro.co.uk/cloud-essentials/public-cloud/5332/personal-cloud-market-set-to-reach-90-bn-by-2020
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