The personal cloud market will have a compound annual growth rate of 33.1 per cent between now and 2020, by which time it will be worth $89.9 billion globally, according to a new study.
The report, World Personal Cloud Market- Opportunities and Forecasts, 2014-2020, says growing customer awareness of personal cloud services is driving the growth. Europe and the USA will be surpassed by the Asia-Pacific region as the most voracious users of personal cloud apps, with the latter accounting for two-fifths of total market share in 2020.
Advances in smartphones, tablets and mobile devices have boosted the growth of the personal cloud market as storage needs grow, it says. The change was catalysed by the virtualizing of the work environment as employers began using personal cloud storage as a solution to work problems, says the report.
Growth rate apart, the main finding of the study by Allied Market Research was that there has been a reversal of expectations, with individuals dictating the growth of corporate networks.
In addition, the study found that the personal cloud will become a conduit for lead generation and other indirect marketing methods. These could create new opportunities and provide the potential for revenue generated through advertising. Individuals will continue to lead the personal cloud as a result of the increasing influence of personal digital content, as devices with cameras proliferate and visuals become increasingly influential in the multimedia world, says the study.
The faster growth rate enjoyed by the Asia-Pacific region is anticipated as a result of different consumer behaviour in a different computing environment. Its population has significantly higher usage of multimedia devices coupled with faster broadband networks, according to the report.
Read More: http://www.businesscloudnews.com/2015/09/07/world-personal-cloud-worth-90-billion-by-2020-says-allied-market-research/
The report, World Personal Cloud Market- Opportunities and Forecasts, 2014-2020, says growing customer awareness of personal cloud services is driving the growth. Europe and the USA will be surpassed by the Asia-Pacific region as the most voracious users of personal cloud apps, with the latter accounting for two-fifths of total market share in 2020.Advances in smartphones, tablets and mobile devices have boosted the growth of the personal cloud market as storage needs grow, it says. The change was catalysed by the virtualizing of the work environment as employers began using personal cloud storage as a solution to work problems, says the report.
Growth rate apart, the main finding of the study by Allied Market Research was that there has been a reversal of expectations, with individuals dictating the growth of corporate networks.
In addition, the study found that the personal cloud will become a conduit for lead generation and other indirect marketing methods. These could create new opportunities and provide the potential for revenue generated through advertising. Individuals will continue to lead the personal cloud as a result of the increasing influence of personal digital content, as devices with cameras proliferate and visuals become increasingly influential in the multimedia world, says the study.
The faster growth rate enjoyed by the Asia-Pacific region is anticipated as a result of different consumer behaviour in a different computing environment. Its population has significantly higher usage of multimedia devices coupled with faster broadband networks, according to the report.
Read More: http://www.businesscloudnews.com/2015/09/07/world-personal-cloud-worth-90-billion-by-2020-says-allied-market-research/
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